Hedge Funds

JPMorgan analyst starts fund

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Jack Ripsteen, a former senior research analyst at JPMorgan, has splashed into the hedge fund pool. Ripsteen started Potrero Capital and launched a long/short equity hedge fund this summer. The San Francisco-based shop is looking to raise $10 million, before the end of the year, for its fund which is focused primarily on small-cap stocks.

The fund concentrates on companies below a $1 billion market capitalization. The positions are based on fundamental research, which rely heavily on cash flow analysis - basically companies that are trading at a discount to future cash flow. The fund can hold anywhere