. They generate a lot of cash, but there's no asset protection if the business deteriorates. : You mentioned short selling is not a big part of Bandera's strategy. but it seems like the short of Famous Dave's worked really well. Could you talk more about that? JG: We will short opportunisticall

York Mercantile Exchange and New York Commodity Exchange. Mr. Effron received a BS in Economics from the (Continued on page 5) Jeff Gramm '03 of Bandera Partners Jeff Gramm manages Bandera Partners, a value hedge fund based in New York City. He teaches Applied Value Investing at Columbia Busine

ought the Soviets and at times cooperated with the Nazis in a doomed campaign for an independent Ukraine during World War II. Russian media presented Bandera and his followers as unambiguous allies of the Nazis, and highlighted their wartime atrocities. Russian media also featured a number of documenta- ri

ht the Soviets and at times cooperated with the Nazis in a doomed campaign for an independent Ukraine during World War II. Russian media presented Bandera and his followers as unambiguous allies of the Nazis, and highlighted their wartime atrocities. Russian media also featured a number of documenta-