Posted on 02/03/2015 5:59:55 PM PST by dynachrome
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."
(Excerpt) Read more at zerohedge.com ...
WSJ link. need account to read:
My heart bleeds......
48% loss? More like only 52% for access rot Bill Clinton.
Anyone who would invest a dime in Greece today needs their head examined.
Usually can pull it up thru a Google link
Type in first sentence and search
That is so sad——the poor kids.!!!!!!!!!!!!!!!!!
:-)
.
He should stick with snowboarding.
In fact, I think that’s what his plan 4 years ago was, until the whole family intervened.
I think they’re sorry, now.
It couldn’t have happened to a nicer schlockmeister!
My first thought, too.
Only an “intellectual leftist” would invest in anything Greek.
I asked my 88 year old Aunt if knowing the news of Greece the last few years would she invest there. She said not only No, but Hell No.
So how is these people on Wall Street see gold when it’s dirty iron?
No one in their right mind studying Greece and ECU would have bet the farm on a turn around there.
So I guess that Bill will have to get his wealthy friends to bail the son in law out.
Can you “short” an entire country?
One would think that a Democrat who is into demanding more and more for the masses would have expected the Greeks to elect the fools who intend to give them what they want and that such a person would understand the negative economic implications of that election. But then he is a Democrat so he probably does not understand much (if anything) about economics. But in true Democrat form, he lost OTHER PEOPLE’S money.
Good hope it’s devastating.
Well, maybe if he loses enough money, and finds out what it is like to have to make ends meet, budget, and so forth, Chelsea will finally learn what it is to be concerned about money the way ordinary people are.
I have nothing against rich people. But when they fail to teach their kids how they got rich, and raise their kids to believe that they’re just rich because they won some cosmic lottery—the way Chelsea was apparently raised—they deserve every criticism.
Greedy Hedge funds! Just want the Greeks to suffer. err /s
That is what King Amabo said about those asset backed bond my retirement account took a hit on to pay off the UAW.
Not exactly but you get the point.
Currency speculation. Soros did it quite successfully.
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