...and they like HATS, too!
Posted on 05/11/2016 8:58:47 AM PDT by simpson96
Hillary Clinton’s son-in-law, the mediocre money manager Marc Mezvinsky, is shutting down a special Greece-focused investment fund that had lost nearly 90 percent of its value over the past two years.
The Eaglevale Hellenic Opportunity fund, which had raised $25 million from investors, was pitched as a bet on economic recovery in Greece—that hasn’t panned out, exactly. The fund reported a 48% decline in 2015, when Mezvinsky told investors that his firm’s predictions about the Greek economy had “proved incorrect,” and hasn’t recovered.
Mezvinsky, who married Chelsea Clinton in 2010, founded the investment firm Eaglevale Partners two years later with the help of Goldman Sachs CEO Lloyd Blankfein, a prominent Hillary Clinton supporter. Billionaire investor and Democratic megadonor Marc Lasry was also an early investor in Eaglevale.
The firm, which manages about $330 million in total, is down 1 percent on the year, which is slightly worse than average for hedge funds. Since its inception, Eaglevale has posted what the New York Times described as “uneven performance.”
Mezvinsky’s financial trouble is unlikely to concern wife Chelsea, who has said she could never bring herself to care about money. That didn’t stop her from turning down a $600,000 annual salary at NBC News to do basically nothing except interview the Geico gecko from time to time. The couple lives in $10 million luxury condo in Manhattan’s trendy Flatiron District.
Mezvinsky’s father, former congressman Edward Mezvinsky, served five years in prison for stealing money from his friends, family and associates through a series of crude scams.
(Excerpt) Read more at heatst.com ...
And crooks for parents, it seems!
So I guess Mezvinsky never told investors about a possible Grexit?
But let's not be totally negative...I see the elitist, progressive-left clique really do believe in:
<><> the magic powers of massive debt,
<><> ECB negative interest rates,
<><> EU statism, and,
<><> proto-fascism.
At least they are putting their money (or others money) where their stupid ideas are.
He married in to the right family,. He is immune from prosecution for anything he does. Must be nice to have unlimited “Get Out of Jail Free” cards.
Hmmmmmm.....wonder where the cunning Lloyd Blankfein stashed the G/S loss on their ledger sheet.......from this latest Mezvinsky debacle.
ping
“The Nigerian man came out with a chemical, threw it on the money, and it all turned to $100 bills. He gave me 10 to have them tested back home. And they were real,” Mezvinsky told a reporter.
Is this for real?
If it were true, why would you need investors?
Isn’t it worth stealing the last 10% ?
related thread:
http://www.freerepublic.com/focus/f-chat/3429502/posts
excerpt from Zero Hedge article:
“But on a less sarcastic note, we agree with the NYT that it is not at all clear why Eaglevale waited until this year to close the Hellenic fund, which already had lost about 40% of its value by early last year.”
~~~~~~~~~~~~
Some interesting info (dot connecting?) for you here:
Clinton Son-in-Law’s Firm Is Said to Close Greece Hedge Fund
MAY 10, 2016
http://www.nytimes.com/2016/05/11/business/dealbook/clinton-son-in-laws-firm-is-said-to-close-greece-hedge-fund.html?smid=tw-nytimesbusiness&smtyp=cur&_r=1
and here:
For Clintons, a Hedge Fund in the Family
MARCH 22, 2015
http://www.nytimes.com/2015/03/23/business/dealbook/for-clintons-a-hedge-fund-in-the-family.html
What could possibly go wrong or be amiss?
Caveat emptor.
Or, more precisely, let the buyer be "stupidus".
Maybe he could invest in Zimbabwe’s currency.
That Chelsea, she sure is the jokester.
Follow the money........................
I never believed Grexit was a possibility - and i still don't. Greece elected a near communist on the pledge he would leave the Euro - and it still hasn't happened. it won't either, as long as the present EU and NATO structures remain in present form.
Greece is a conquered colony, pure and simple. the EU/Brussels bureaucracy, French and German bankers, and Angela Merkel OWN Greece and its institutions. The USA seeks to maintain this situation also. Its also a better way to occupy a country than the 3rd Reich, because now there are no foreign troops on the streets - although there are now hundreds of thousands of foreign muslims on the streets as evidence of Greece's completely occupied status.
...and they like HATS, too!
My SIL is an Eagles fan but loves Trump.
I’ll have to torture him with this pic.
He and his Wife, the Daughter of lifetime Government Employees live in a $10,000,000 Manhattan Condo.
The Adult Children of Billionaire Donald Trump live in $2,000,000 Manhattan Condos that they bought from their Father.
Just sayin’...
Wonder if anyone thought to look in his wife’s family slush fund for the “lost” money?
Hey! What a great idea! I hear that you can invest $10.00 in Zimbabwe and have a guaranteed $100,000 in less than a year! Now THAT’S investing!
Thank you for posting this.
Wow, looks like Joe Walsh lost some weight. Why isn’t he on Stage playing with the rest if the Band?
Oh, wrong Eagles, sorry.
Who is the Chipmunk in the Black Hat?
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