Hedge fund manager shuts firm to explore run for Connecticut governorNEW YORK (Reuters) - David Stemerman is winding down his hedge fund firm to explore a run for governor of Connecticut, according to a letter sent to clients of Conatus Capital Management LP on Tuesday. “Connecticut – home to my family and business – is in crisis,” Stemerman wrote in the note, which was viewed by Reuters. “I am deeply concerned that a small number of people in our state are thriving while many are struggling to make ends meet,” the Greenwich-based Republican added. “I do not claim to have all of the answers, but as an outsider with a fresh perspective, I believe that I can bring a different approach.”  The next election for governor in Connecticut is in November 2018. The news was previously reported by Bloomberg News. Conatus started in 2008 with about $2.3 billion in assets under management and followed a classic fundamental stock selection strategy. The firm grew to manage about $3 billion by the start of 2014 but assets dropped to about $1.6 billion today, according to a person familiar with the situation.  Conatus’ main hedge fund gained more than 18 percent this year through August, the person said. Its average annual gain since inception was about 5.4 percent, according to Bloomberg. Stemerman also said in the letter that he planned to give startup money to a new fund planned by Conatus consumer industry head Amir Mokari. politicsNews
hedge fund manager shuts firm explore run connecticut governornew york reuters david stemerman winding hedge fund firm explore run governor connecticut according letter sent clients coats capital management lp tuesday connecticut home family business crisis stemerman wrote note viewed reuters i deeply concerned small number people state thriving many struggling make ends meet republican added i claim answers outsider fresh perspective i believe i bring different the next election governor connecticut november the news previously reported bloomberg news coats started billion assets management followed classic fundamental stock selection strategy the firm grew manage billion start assets dropped billion today according person familiar situation coats main hedge fund gained percent year august person said its average annual gain since inception percent according bloomberg stemerman also said letter planned give startup money new fund planned coats consumer industry head amir molar politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Hedge fund manager shuts firm to explore run for Connecticut governorNEW YORK (Reuters) - David Stemerman is winding down his hedge fund firm to explore a run for governor of Connecticut, according to a letter sent to clients of Conatus Capital Management LP on Tuesday. “Connecticut – home to my family and business – is in crisis,” Stemerman wrote in the note, which was viewed by Reuters. “I am deeply concerned that a small number of people in our state are thriving while many are struggling to make ends meet,” the Greenwich-based Republican added. “I do not claim to have all of the answers, but as an outsider with a fresh perspective, I believe that I can bring a different approach.”  The next election for governor in Connecticut is in November 2018. The news was previously reported by Bloomberg News. Conatus started in 2008 with about $2.3 billion in assets under management and followed a classic fundamental stock selection strategy. The firm grew to manage about $3 billion by the start of 2014 but assets dropped to about $1.6 billion today, according to a person familiar with the situation.  Conatus’ main hedge fund gained more than 18 percent this year through August, the person said. Its average annual gain since inception was about 5.4 percent, according to Bloomberg. Stemerman also said in the letter that he planned to give startup money to a new fund planned by Conatus consumer industry head Amir Mokari. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: hedge fund manager shuts firm explore run connecticut governornew york reuters david stemerman winding hedge fund firm explore run governor connecticut according letter sent clients coats capital management lp tuesday connecticut home family business crisis stemerman wrote note viewed reuters i deeply concerned small number people state thriving many struggling make ends meet republican added i claim answers outsider fresh perspective i believe i bring different the next election governor connecticut november the news previously reported bloomberg news coats started billion assets management followed classic fundamental stock selection strategy the firm grew manage billion start assets dropped billion today according person familiar situation coats main hedge fund gained percent year august person said its average annual gain since inception percent according bloomberg stemerman also said letter planned give startup money new fund planned coats consumer industry head amir molar politicsnews