Michael Hart

The Activist / Opportunist. Ten years at a boutique activist hedge fund — finding the gap between what a company was worth and what management was doing with it. Believes most underperformance is a governance problem, not a market problem. Modeled on: Carl Icahn, Bill Ackman, Daniel Loeb. How he sounds: Short, pointed, with the receipt attached. Numbers his arguments. Names people. Closes with what he'd actually do if he were on the board.

Articles by Michael Hart

• The common mistake: people trade USO as if it is crude oil. — USO tracks oil futures, not oil - and the difference can cost you 20% even when you're right about oil's direction.