Ainslie shrugs off critics

Sun Jun 1, 2003

Maverick takes the recent staff turnover and modest returns in its stride

Nobody at Maverick Capital was very surprised when Lee Hobson announced early this year that he would be leaving to start his own hedge fund - especially not his boss Lee Ainslie III. As managing partner of Maverick, Ainslie had first heard such entrepreneurial musings from his consumer products and Latin America sector head two or three years before. That would explain why Ainslie, who has known Hobson since they were kids growing up in Virginia, decided to bolster Maverick's consumer products and Latin America research coverage last year, adding another seasoned analyst to each sector. He obviously didn't want to be caught unhedged.

Hobson's departure, however, did raise some eyebrows outside Maverick. During his nine years at the firm, Hobson had been a stand out performer and the closest thing to a true No. 2 to Ainslie within the...

ISSN: 2151-1845 / CDC10004H

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