Opinion
Caledonia’s $9b bet on Zillow hits an activist short seller wall
The hedge fund backed by some of Sydney’s wealthiest families says the real estate portal’s share price could triple by next year. Others think it will halve.
Jemima WhyteSenior reporterCaledonia Investments has never shied away from thinking big when it comes to its long-term and large holding in Zillow, the Seattle-headquartered online real estate platform.
And its latest note to investors doesn’t disappoint. The hedge fund backed by some of the wealthiest families in Sydney is Zillow’s largest shareholder. It thinks Zillow’s market capitalisation, already $US10.8 billion ($16.6 billion), could triple by next year.
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