Cavalry is no Bowman mark II

Sat May 1, 2004

It is no surprise that many investors may be thinking of John Hurley's relatively new shop Cavalry Asset Management as a kind of Bowman Capital Management mark II. After all, when building his new tech-focused hedge fund shop, former Bowman managing director Hurley grabbed as much of the old portfolio team from Bowman Capital as he could, minus Larry, of course.

However, a look at Securities and Exchange Commission filings reveals an investment focus at Cavalry that is less exposed to the speculative dot-com and consumer side than Bowman was when it held 256 positions during the halcyon days immediately before the tech wreck. Sure, one-in-four of Cavalry's 84 positions at the start of 2004 overlapped with holdings that Bowman held at the start of 2000. But that's where the comparison may start to run thin.

Calvary launched in early 2003 and runs roughly $1 billion in Calvary Technology...

ISSN: 2151-1845 / CDC10004H

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