General Investing >> Money Manager Interviews >> May 5, 2014

A Long/Short Strategy Focused on Small-Cap Consumer Growth

Wachs, Lori
Lori Wachs is the Co-Founder and Investment Manager of Cross Ledge Investments. Ms. Wachs is a Magna Cum Laude graduate and a Benjamin Franklin Scholar from the Wharton School of the University of Pennsylvania, where she majored in finance and minored in East Asian studies. She graduated with honors and was elected to Phi Beta Kappa. Immediately after graduating, Ms. Wachs worked as an Analyst in the Equity Risk Arbitrage department of Goldman Sachs from 1990-1992. Having moved back to Pennsylvania in 1992, she joined Philadelphia-based Delaware Investments as an Analyst in the company's small/midcap growth equity group, focusing on the consumer sector. In 1997, Ms. Wachs was promoted to Vice President and Portfolio Manager, where she helped oversee the investment of $4 billion in various institutional and mutual fund products. Active in marketing the investment products she manages, she has been featured regularly on ABC Good Morning America, ABC World News Tonight, CNBC, Bloomberg News and Fox News Channel as an expert on retail and consumer investments, fashion trends, buying behavior and retailing best practices. In August of 2010, Ms. Wachs and two former longtime colleagues from Delaware Investments launched a hedge fund, Cross Ledge Investments. The fund ranked in the top 15% of the HFR All Funds universe when it reached its three-year performance record in August of 2013.  Profile
TWST: Hedge funds have been described by some as mutual funds on steroids. What's your definition of a hedge fund?

Ms. Wachs: Well, there are many different kinds of hedge funds. The