Wednesday, May 11, 2016

Chelsea Clitnon's Husband Loses 90% of Money in a Greek Hedge Fund



Murray Sabrin emails:

Hillary's son-in-law goes belly up. Let's see if this makes the nightly news.

Via The Weekly Standard:
Chelsea's Husband to Close Greek Hedge Fund After Losing 90% of Value

Chelsea Clinton's husband is reportedly closing his Greek hedge fund. The news from Marc Mezvinsky comes after the fund is said to have lost 90 percent of its value.

"It was a hedge fund portfolio pitched by Hillary Clinton's son-in-law, Marc Mezvinsky, as an opportunity to bet on a Greek economic revival," the New York Times reports.

"Now, two years later, the Greece-focused fund is shutting down, after losing nearly 90 percent of its value, according to two investors with direct knowledge of the matter who spoke on the condition of anonymity.

"Investors were told last month that the fund would close. The fund, Eaglevale Hellenic Opportunity, had raised $25 million from investors to buy Greek bank stocks and government debt.

"Eaglevale Partners, a Manhattan hedge fund firm founded by Mr. Mezvinsky and two former Goldman Sachs colleagues, raised money for the Hellenic fund at a time when some on Wall Street had hopes for a revival in the Greek economy. For a time, Mr. Mezvinsky appeared at hedge fund conferences promoting the Greece investment thesis."
  -RW

9 comments:

  1. Many successful investors lost everything before they found success. His next move could be telling.

    ReplyDelete
  2. I love to see the list of his fund's investors. They all deserved to lose more than 90%.

    ReplyDelete
  3. Robert, if he was reading your columns, he could have made a better choice.

    ReplyDelete
  4. Karma is a bitch ain't it.

    ReplyDelete
  5. I'm a lousy investor but it would seem to me that betting on the Greek aboveground economy would be a sucker's bet; there being so many potential strikes against it. Mainly that profits would have to be offshored or risk being consumed by the Machine. But, if his mother in law becomes President, I am sure any future funds of his will be very well subscribed

    ReplyDelete
  6. WTF? He sure is a dumb bell to lose money. But only a fugly girl like hillbilly's kid would chose someone as dumb as she looks.....

    ReplyDelete
  7. So now you can buy his fund's Greek debt for one tenth of what he paid for it?

    ReplyDelete
  8. I believe that he is the son of a criminal. What did investors expect?
    Did he get to keep his fees?

    ReplyDelete