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...