Eric Hovde: Wisconsin’s Mitt Romney?

When Tammy Baldwin criss-crosses the state of Wisconsin for campaign stops, she travels by, you know, car. Here’s how Eric Hovde (R) gets around:

Oh, the flossy flossy! (Picture- DPW)

I’m not so sure that a multimillionaire hedge fund manager who travels via private jet  could truly understand the needs of an average Wisconsin citizen like myself…and I don’t want to find out.


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14 thoughts on “Eric Hovde: Wisconsin’s Mitt Romney?

  1. Can’t wait for him to comment on the trees in Wisconsin being the right height.

    Seriously, this is not a good year for millionaires to run, especially millionaires that run hedge funds.

  2. Rich the pilot here. You’re setting yourself up if you think Tammy Baldwin will travel only by car around the state. Time spent driving is time you’re not campaigning, especially on those swings around the northern part of the state. If I were advising a candidate, I’d have a Beech King Air, or at least a Beech Baron or Cessna 410 twin at our disposal.

    We can poke fun at rich guys and their corporate jets, and sure they often get carried away with them, but to the savvy businessman, a plane is a business tool. And believe me, if they’re not seeing a return on the cost, they ain’t using the plane. Remember also, that behind those “corporate jets” are tens of thousands of well paying jobs in one of the only industries in which this country enjoys a trade surplus. After all, the guy with the neatest corporate jet of them all is none other than our President.

  3. I never knew Washington D.C. was a hotspot for Hedge Funds. It would be a nice location if a key to one’s investment strategy was mining contacts on Capitol Hill for information that would provide an investment edge.

    I believe there was also a recent mini-scandal involving insider trading by Congress Critters on legislation they were drafting. Amazingly enough they were generating investment returns 12% better than the market in general. Food for thought there.

    It would be interesting if a journalist or blogger with financial market knowledge did a little due diligence on how Mr. Hovde made his money, besides the skimming of fees off the top that is a routine entitlement for Hedgies.

    1. DC isn’t a hotspot for hedge funds. DC chased most of them out with their policies.

      A journalist could do all the digging that he wanted on Eric Hovde, and they would find that he ran some of the most ethical hedge funds out there. He was the first to undergo trial auditing by the SEC, and passed with flying colors. He ran a company with a strong compliance culture. Go ahead, investigate him. You will be surprised that there are some investment shops that insist on high standards and fair dealing. He didn’t cut corners.

      And, he has a heart for the poor of the world, and encouraged his staff to go with him in his charitable ventures. Go ahead, dig into Eric Hovde. The more you dig, the better you will like him.

      And how do I know? I worked for him for 4 1/2 years. He was very good to me and the rest of his staff. I wish all my bosses had been like him in my life.


      David J. Merkel, Cheesehead abroad, CFA

  4. “And believe me, if they’re not seeing a return on the cost, they ain’t using the plane.”

    And if they ain’t flying through tax loopholes like accelerated depreciation on their toys, they ain’t seeing a return.

    1. You had it right until you said “toys”. Your definition will differ from others. Very subjective. But you close those loopholes, and thousands will join the breadlines. Just sayin’.

        1. Except the aviation industry is much more than a parable. And with a major aviation manufacturer that is struggling in his state, Senator Franken knows full well he needs to try to keep it afloat. And if you don’t want the industry to be outsourced like so many others we’ve seen go offshore, you would be inclined to agree. Just don’t come back to me 15 years from now complaining that the pilot of your United Airlines flight can’t speak English. And I’ll leave it there.

  5. Didn’t he just announce his campaign? It is very typical to do an announcement tour via private plane.

  6. The point is, Hovde is a multimillionaire hedge fund manager who just moved back to Wisconsin from D.C. Do we want a one percenter from out of state representing us? I don’t.

  7. You act like out sourcing to other Countries is the inevitability of appropriate taxation. They are issues that have to be dealt with together. To protect the American way of life that we have had for the last 60 years or so. That means a strong middle class not 1 percenters.

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