I might start a hedge fund one day. So maybe I shouldn’t spend my time tearing into funds-of-funds.
But I got a problem. I get a kick out of pulling wings off butterflies.
One of my earliest posts (and still in the top five accessed on this site) was a post about New World Capital Management – a fraudulent hedge fund in
My first email from
But obviously not everyone did. Here is a fund-of-funds suing New World Capital Management and Greg Duran. This fund was still promoting
This fills me with amazement. There is only one real reason for investing in a fund of hedge funds – and that is that the fund-of-funds do the due diligence for you. If a fund-of-funds got suckered by something as simple as New World Capital Management then they got no right to be in the business. And their clients should all pull their money now. Go on. Do it now. You should.
So with wonder and amazement I link you (again) to a small court case. It’s the fund of funds (not the management company) suing. It’s only for 750 thousand dollars but you would think the management company would wear it.
Let us review what these people are saying:
- We are a fund of hedge funds.
- We invest your money with frauds.
- We can’t do our job.
- Invest with us.
PS. Now if any funds of hedge fund want more simple due diligence – I have an email. Just contact.