Thomas R. Hudson Jr.: More Info

Thomas R. Hudson Jr.’s new firm, Doubloon Capital LLC, is targeting “stressed/distressed companies, even including bankruptcies’’ It intends to target industrial companies, REITs, retailers and casinos, while avoiding Technology, telecommunications and “asbestos-tainted” companies.

Through a representative, Hudson declined to comment.

Thomas R. Hudson Jr.’s new investment thesis: ‘While a rising tide lifts all ships, a falling tide can be treacherous for a ship in shallow water. Value investing is about identifying intrinsically “undervalued” companies. The direction of the macro environment, the tide, will often determine the realization value of undervalued companies.’

In 2007, Pirate Capital suffered big redemptions in the early stages of the credit crisis and was forced to close some of its funds. Yet in an investor sales pitch reviewed by Deal Journal, Hudson boasts that he had cumulative return of 99.64% from Jan. 1, 2003 to Dec. 31, 2009, as contrasted to a 45.7% return for the S&P 500.

Thomas R. Hudson Jr. is charging investors a 2% management fee in the first year and receives 20% of any increase in the funds’ Net Asset Value. Ah, now there is a little of that old pirate spirit.

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