The Business Insight of Buddy Fletcher

Buddy Fletcher

Buddy Fletcher was born on December 19, 1965. He once worked as a hedge fund manager. One of his major achievements is the establishment of the Fletcher Foundation. At the onset of his career, he was working at Bear Stearns as an equity trader. Later on, he began working at Kidder, Peabody & Co. As an African American, he has ever undergone racial discrimination, and he once sued Kidder, Peabody & Co. His claims about racial discrimination were dismissed. Thereafter, he won an arbitration award that was worth $1.26 million.

In 1991, Buddy Fletcher founded Fletcher Asset Management. On the other hand, Fletcher International became insolvent in 2008. The company was then declared as bankrupt as from 2012.

Buddy Fletcher grew up in Waterford, Connecticut. His father went by the name Alphonse, Sr., and he used to work as a technician at a company that dealt with the manufacture of submarines. Fletcher’s mother was known as Bettye. She was a social worker and a teacher. After studying at the Teachers College at the Columbia University, she finally got her Ph. D. in Education. She has also worked as a dean and a school principal. Buddy Fletcher also has two younger siblings namely Geoffrey who is a film director, and Todd who works as a screenwriter.

His success as a hedge fund manager may be attributed to the fact that he studied at Harvard College. He majored in applied mathematics. Buddy Fletcher also had the honor of serving as a Marshall. Later on, he enrolled at the Yale School and studied Forestry as well as Environmental Studies. Fletcher then graduated with a master’s degree in environmental management in 2004.

While at Bear Stearns, Buddy Fletcher focused on dividend-related arbitrage. Kidder Peabody then recruited him since he was a professional when it came to equity trading. After founding Fletcher Asset Management, the company focused on small-capitalization public companies. At first, Fletcher Asset Management traded with heavy leverage. Buddy Fletcher mainly traded in public instruments. He also took part in some equity investments that were on a long-term basis. In both investments, he used hedges. Fletcher also took part in PIPE deals. His company grew extensively. Therefore, could trade their stocks at the NYSE publicly. Fletcher had a broker-dealer registration which he surrendered in 1994. He later began working as a registered investment adviser.

Through the Fletcher Foundation, Buddy Fletcher has been able to offer better the society. For instance, he donated $1 million after the death of Reginald Lewis who was a close friend. In a bid to provide financial support to the professors, Buddy Fletcher came up with the Alphonse Fletcher University Professor Fellowship program. He was able to improve race relations.

Ellen Pao is the wife to Buddy Fletcher, and their marriage took place in 2007. Pao has served at the Kleiner Perkins Caufield& Byers. However, Fletcher met Ellen Pao while at the Aspen Institute fellows. Before marrying Pao, Buddy Fletcher had been in a ten-year relationship with Hobart V. “Bo” Fowlkes Jr. Currently, Buddy Fletcher resides in San Francisco. He also owns property in New York City.

 

Leave a Reply

Your email address will not be published. Required fields are marked *