Second Curve Capital Buys More CompuCredit (CCRT) ~ market folly

Friday, September 10, 2010

Second Curve Capital Buys More CompuCredit (CCRT)

Thomas Brown's hedge fund Second Curve Capital recently filed an amended 13G with the SEC regarding their position in CompuCredit (CCRT). In it, we see that Second Curve has disclosed a 11.4% stake in the company with 4,093,630 shares. This marks an increase of 10.3% in their position size because back on June 30th they owned 3,710,543 shares.

We also covered some other recent portfolio activity out of Tom Brown's firm when we saw that Second Curve started a position in Tennessee Commerce Bancorp (TNCC). Brown's focus is primarily on financial stocks and he was painfully early on his bullish call on the financials during the recent crisis and it cost him dearly at the time. Before he founded Second Curve he was in charge of the financial services group at Julian Robertson's Tiger Management.

Taken from Google Finance, CompuCredit is "a provider of various credit and related financial services and products to or associated with the financially underserved consumer credit market."

To view the latest buys and sells from top managers, head to our coverage of hedge fund portfolios.

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