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My interview with Paul Sonkin of Hummingbird Value Funds


ExpectedValue
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Hi Guys, I thought you might be interested in my interview with Paul Sonkin of Hummingbird Value Funds. Sonkin takes a really interesting approach, he invests mainly in micro/nano-cap companies and participates in a lot of arbitrage situations. I think that he has some insights that could be really helpful for small fund managers and investors.

 

Here's a link to the interview: http://streetcapitalist.com/2009/08/10/my-interview-with-paul-sonkin/

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Good interview, thanks for doing it. I would have liked to know how he goes about purchasing such small companies. In the past, I've had trouble making purchases of less than $10,000 for a company trading at more than $3M. How does a fund like Sonkin's establish a position without getting eaten up by traders?

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Guest kawikaho

Yeah, that's the trouble with these small companies.  I normally don't buy into companies that have very low average volumes, since it's hard to unload any shares without affecting the price. 

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I don't know how he does it by I have set limit orders and waited for buying and selling.  Sometimes it takes a few days to buy and sell the positions but I am only buying really undervalued firms (100% upside+) with money I do not need for a long time.

 

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