Lee Munder transformed himself -- literally -- before the crowd at the final session of the AIMR conference in Chicago earlier this month.
Mr. Munder took members of the Association for Investment Management and Research to task for being hypocritical by buying shares of JDS Uniphase Corp. and other high-tech stocks but not having high-technology delivery systems themselves. He told them to "talk the talk . . . walk the walk" and then showed them how.
Acknowledging the irony of "a suit" talking about the "new economy," Mr. Munder proceeded to shed his suitcoat, tie and shirt, and donned a pair of sleek sunglasses, telling the audience to "embrace the new economy."
Not going too far, Mr. Munder was wearing a white T-shirt with "Tiger Woods" printed in huge capital letters on it, saying the young golfer is representative of the new economy.
The reverse of the T-shirt held two words that are a warning, he said, for all who don't follow his advice -- "Tiger Management."
Mr. Munder, founding chairman of Munder Capital Management, is putting his money where his mouth is. He left Munder Capital earlier this year and is setting up a new firm, Lee Munder Investments Ltd. in Palm Beach, Fla. The new firm will offer a venture fund, long-short hedge fund, traditional money management and mutual funds to institutional investors and "substantial individuals."