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Hedge honcho: Activists killing 'golden goose'

Jeffrey Ubben, ValueAct Capital
Source: CNBC

Jeffrey Ubben, founder of $14 billion activist hedge fund firm ValueAct Capital, believes that some of his fellow corporate agitators are doing undue harm to companies.

"We better be careful we don't kill the golden goose. I think the media has to call out some of this stuff and not just celebrate the quote unquote victories of activist investors," Ubben said Tuesday on an activist investment panel at the Milken Institute Global Conference in Los Angeles. "Companies might want to push back more because there is some bad behavior going on."

Ubben cited Keith Meister's recent investment via Corvex in security company ADT as an example of destructive activism.