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Kirsten Bischoff, Opalesque New York: Jason Gold, Founder and CEO of New York based Aurarian Capital was recently named one of the 2008 Top 20 Rising Stars of Hedge Funds by Institutional Investor News. As of April 30, 2008 Gold’s Aurarian Fund had a 12 month return of +40%. The Fund’s strategy is non-traditional long/short equity focused on small cap firms which can be distinguished by ownership of intellectual property protected innovations that are about to migrate in evolution from late development stage to early stage commercial adoption. Opalesque recently had the chance to speak with Jason about this strategy.

Measuring the moat Citing Warren Buffet’s oft mentioned remarks on the width of the moat that defines the distance of a company to its competitors; Gold says “I think of the width of that moat as being determined by the value of a company’s intellectual property.”

Gold’s background as Director of Technology Research at SAC Capital Advisors, as well as his previous positions focused on technology innovation at Andor Capital Management and at Pequot Capital Management (where he was Reuters year 2000 top ranked analyst in the computer hardware space and second ranked analyst in the electronics manufacturing services space), has been integral in the development of this strategy.

The Aurarian Fund considers investments across many different industries, yet its focus is very targeted. While ......................

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