Wednesday, February 4, 2015

Hillary Clinton's Son-in-Law Bet Big — and Lost — on Greece

Chelsea Clinton, Bill Clinton, and Marc Mezvinsky, .

Tyler Durden informs:
Despite having Goldman Sachs CEO Lloyd Blankfein as an investor and being Bill and Hillary Clinton's son-in-law, Marc Mezvinsky (and two former colleagues from Goldman Sachs who manage Eaglevale Partners hedge fund) told investors in a letter sent last week they had been "incorrect" on Greece, helping produce losses for the firm’s main fund during two of the past three years. 
By 'incorrect' Chelsea Clinton's husband means the Eaglevale fund focused on Greece lost a stunning 48% last year and, as The Wall Street Journal reports, is impacting the overall returns of the roughly $400 million fund which has spent 27 of its 34 months in operation below its "high-water mark."
The main fund dropped 3.6% last year, far trailing the 5.7% rise for similar hedge funds tracked by HFR Inc., reports WSJ.

A smaller Eaglevale fund focused only on Greece plunged 48% last year, said the person familiar with the situation, hurt by the belief Greece’s economy will see a quick rebound, writes WSJ.

“Our recent predictions regarding Greek politics have proved incorrect,” Mezvinsky and the other Eaglevale founders wrote to investors last week,

Chelseea Clinton, 34, and Mezvinsky, 36, have been married since 2010. The marriage was an interfaith ceremony. Mezvinsky is Jewish and Clinton is Methodist. The wedding was at the former estate of John Jacob Astor IV.

1 comment:

  1. Sounds like he was getting some more bad foreign policy advice from his in-laws. Blankfein is one of the principle investors. Hillary is running for president.Sounds like a cozy relationship. This loss helps her when she will be later grilled on her relationship with Wall Street.