Posted on 02/06/2009 1:33:59 PM PST by pissant
Tom Tancredo is reeling in the debris of America's exploding hedge funds.
"It all went south," the former candidate for U.S. president told me Monday. "It was a pretty devastating thing."
The conservative Republican was heavily invested in something called the Agile Safety Fund, which turned out to be neither.
It was run by a Boulder, firm called Agile Group that no longer answers its phone and has taken down its Web site.
Agile's founder and majority owner, Neal Greenberg, declined to speak with me when I reached him at his Boulder home on Monday morning. His firm reportedly managed more than $1 billion in mutual funds, hedge funds and individual accounts.
It also paid popular morning talk-show host Mike Rosen of powerhouse station 850 AM KOA,
(snip)
Tancredo said. "Once it started, it was just like a house of cards."
Now, whatever funds Agile has left are frozen and may take years to thaw.
Tancredo was a five-term Republican congressman from Colorado, renowned for his zero-tolerance stance on illegal immigration and a suggestion he once made that we bomb Mecca if Islamic fundamentalists ever try to nuke us.
He wouldn't specify his losses, and he's hoping that when the smoke clears from Agile's bomb blast, that there is something left of his savings.
A disclosure form he filed in 2007 for his long-shot presidential bid listed him as having $530,000 to $1.1 million invested in the fund. He also reported that it provided him with $15,000 to $50,000 a year in income.
"I have no idea where it is, or what we will be able to recover," he said, "but it's pretty serious."
What are you going to do? I asked him.
"Wait and pray."
Other investors are turning to lawyers instead of the Lord.
(Excerpt) Read more at denverpost.com ...
If you have limited funds, there’s nothing like a portfolio of half blue chips and half CDs.
Hedge funds are for the extra million if you have 10 million safely invested.
This also may explain his vote IN FAVOR of the Bush/Pelosi/Reid/McCain/Paulson/Barneyfag bailout last september.
I guess ‘we’ know ‘why’ Tanc voted for the Bailout now.
Maybe Mr Greenburg is still in Gaza fighting w/ the IDF. I’m sure he’ll be back next week after visiting Bernie on Park Ave.
wonder if this Greenburg is related to Hank Greenburg of AIG fame?
When all is said and done, Duncan Hunter, Sr. will be the last one standing.
If more republicans listened to Hunter instead of the GOP “leadership”, the first trillion dollar boondoggle bailout would have been shitcanned and taxcuts made instead.
Maybe his benefactor Slick Willard will bail his butt out.
It’s funny how, with all the news about Wall Street, the financial sector and hedge funds we never hear about the famous hedge fund manager Chelsea Clinton. I wonder how her fund is doing?
If you were counting on the markets for your retirement Tanc, you shouldn’t have quit your day job.
He should have invested in gold and silver like Ron Paul did.
Shows who was the smarter candidate doesn’t it?
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