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(Bloomberg) --

Short-seller Ben Axler’s Spruce Point Capital Management is thriving in the age of computerized investing by going where the machines don’t. He digs deep into proxy statements and other obscure documents to sniff out the incentive targets that influence management, and then reverse engineers the ways they’re accomplishing them. He joined the latest episode of the “What Goes Up” podcast to discuss his approach. A sample:“Computers are smart for many things,” he says. “They can trade a stock infinitely faster than I can with my key strokes. They can look at numbers, crunch numbers, but what I think is lost is the art of judgment and looking at a holistic picture of a company.’’Also joining co-hosts Sarah Ponczek and Mike Regan is Sebastian Boyd, a Santiago, Chile-based writer for the Bloomberg Markets Live blog, who discusses the state of credit markets and what to expect from the upcoming Federal Reserve meeting. Mentioned in this podcast:

  • The Tiny Activist Fund That Reaped 24% Return by Unearthing ‘Cockroaches’
  • Shor t Squeeze Fuels Junk-Bond ETF Jump After Record Bearish Bets
  • Fed Seen on Track for 2019 Rate Cut Though Call Is Close


To contact the authors of this story: Sarah Ponczek in New York at sponczek2@bloomberg.netMichael P. Regan in New York at mregan12@bloomberg.net

To contact the editor responsible for this story: Topher Forhecz at tforhecz@bloomberg.net

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