Hedge funds have been the vehicle of choice for the connected to get rich(er) for quite a while now. But losing 90% of one’s customer’s money is generally frowned upon. Even if one is attached to the Clintons.
How will the young family get by? What will they do? Where will they go? How will they survive? Are they going to be “dead broke” like their parents were? Is there no end to the struggle?
(From The Daily Caller)
Chelsea Clinton’s husband is shutting down a hedge fund he founded after losing 90 percent of investors’ money.
Marc Mezvinsky promoted Eaglevale Hellenic Opportunity as a means to bet on, and profit from, a Greek economic recovery. The fund was a spinoff of Eaglevale Partners, a larger hedge fund founded by Mezvinsky and two colleagues from his days working at Goldman Sachs.
Sometimes Mr. Market is just awesome.