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David A. Rocker (born 1943)[1] [2] is the founder of the hedge fund Rocker Partners, LP (now known as Copper River Management, LLC), and former columnist for TheStreet.com. A hedge fund is a private Investment fund open to a limited range of investors which is permitted by regulators to undertake a wider range of activities than other investment TheStreetcom is a financial company and Website started in 1996 by Jim Cramer and registered on the NASDAQ Stock Market After founding Rocker Partners in 1985, Rocker built the firm into one of the largest hedge funds specializing in short selling. In Finance, short selling or "shorting" is the practice of selling a Financial instrument that the seller borrows first (does not own and then [3]

Rocker holds a magna cum laude bachelor's from Harvard College and a master's of business administration from Harvard Business School. Latin honors are Latin phrases used to indicate the level of academic distinction with which an Academic degree was earned Harvard College is the undergraduate section and oldest school of Harvard University, a Private university in the United States founded in 1636 by the Massachusetts Harvard Business School ( HBS) is a renowned Business school in the United States [4] Rocker and his wife, Marian, reside in Short Hills, NJ, and Key Biscayne, FL. Short Hills is an unincorporated area located within the township of Millburn, in Essex County, New Jersey, United States. Key Biscayne is an island located in Miami-Dade County, Florida, United States, between the Atlantic Ocean and Biscayne Bay [5] He has two sons: Daniel is a trader at hedge fund Zimmer Lucas Partners, Joshua is an emergency room pediatrician. [6]


Contents

Early life and career

Rocker's grandparents were Austrian and Russian immigrants. His father was an accountant in West Orange, NJ, where Rocker was raised and married his high school sweetheart, Marian. After graduating from Harvard College and before getting his MBA from Harvard Business School, Rocker served for two years as as an officer in the US Navy. [7]

In 1969, Rocker joined Mitchell Hutchins, Inc. , where he was a research analyst and investment banker. In 1972 when he hired on at Steinhardt, Fine, Berkowitz & Co., a pioneering hedge fund, and was a general partner there from 1973 to 1981. Michael H Steinhardt (born in Brooklyn New York) is an American businessman and philanthropist active in Jewish causes A hedge fund is a private Investment fund open to a limited range of investors which is permitted by regulators to undertake a wider range of activities than other investment

Rocker joined Century Capital Associates, an investment adviser firm, in 1981. At Century, he was an analyst and portfolio manager for institutional clients. Rocker managed over $600 million in assets while at Century. [8]

Rocker Partners LP

Rocker left Century Capital Associates after it was acquired and formed Rocker Partners in 1985, based in Millburn, NJ. Millburn is a township in Essex County, New Jersey, United States. During his time at Rocker Partners, he was an online contributor on RealMoneyPro. com [9] and quoted in Business Week for his opinions on stocks. BusinessWeek is a business Magazine published by McGraw-Hill. [10] In 2002, he appeared with Jim Cramer on CNBC's Kudlow and Cramer. James J "Jim" Cramer (born February 10, 1955) and an occasional contributor to Time magazine CNBC (an abbreviation for the " C onsumer N ews and B usiness C hannel" its official name until 1991 is a cable and [11]

As part of Rocker Partners, Rocker opened a British Virgin Islands fund, Compass Holdings Ltd, as well as Helmsman Holdings, which was later folded into Compass. He also founded Contra Strategic Short Fund LP, based in the United States. [12]

In 2003, Rocker testified on the industry before the House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. [13] During 2005-2006, Rocker was named as a defendant in a lawsuit from Overstock.com which is in the early stages of litigation. Overstockcom ( is an Online Retailer headquartered in Cottonwood Heights, Utah, near Salt Lake City. [14]

In 2004, Rocker funds were down to less than $400 million in assets, down by half of its previous high figure. However, in 2005, Rocker Partners netted 46%, and total assets rose to $1. 3 billion. Annualized returns since inception was about 11% at the end of 2005, when it had 12 employees. [15]

Rocker Partners is now incorporated as Copper River Management, LLC. Rocker's former co-manager at the firm, Marc Cohodes, fully assumed managerial duties after Rocker's retirement in early 2007. [16]

Philanthropy and Patronage

Rocker was a sponsor of the 2007 New Jersey Jewish Film Festival[17], and is also a patron of artists such as Ina Golub. [1]

References

  1. ^ "Profile os a Short Seller", The New York Times, April 2006
  2. ^ Overstock.com May Seek $1 Billion From Rocker Partners - May 12, 2006 - The New York Sun
  3. ^ "Short-seller David Rocker to Retire", Alistair Barr, Marketwatch, April 4, 2006
  4. ^ Rocker's The Street.com Biography
  5. ^ Seven-figure donation fuels emergency campaign
  6. ^ "Profile of a Short Seller", The New York Times, April 2006
  7. ^ Weekend Reading: Profile of a Short Seller - Mergers, Acquisitions, Venture Capital, Hedge Funds - DealBook - New York Times
  8. ^ Rocker's The Street.com Biography
  9. ^ Rocker calls PrePaid Legal a pyramid scheme
  10. ^ Business Week quote
  11. ^ New York Magazine, James Cramer, June 2002
  12. ^ "Rocker: As Easy-Money Days End, Shorts Find Opportunities", Christopher Faille, Lipper Hedge World, August 2004
  13. ^ "Short-seller David Rocker to Retire", Alistair Barr, Marketwatch, April 4, 2006
  14. ^ "2 Firms Claim Conspiracy", The Washington Post, April 2006
  15. ^ "Profile of a Short Seller", Michelle Celarier, The New York Times, April 14, 2006
  16. ^ Pensions & Investments newsletter
  17. ^ New Jersey Film Festival

External links

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