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Chelsea Clinton's Husband Suffers Massive Hedge Fund Loss On Greek Investment
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."
In 2013, Institutional Investor proclaimed Mezvinsky "a hedge fund rising star"...
In late 2011, Marc Mezvinsky co-founded New York-based, macro-focused hedge fund firm Eaglevale Partners with Bennett Grau and Mark Mallon, two Goldman Sachs Group proprietary traders whom he'd gotten to know when they all worked at the bank. Best known as the husband of Chelsea Clinton, Mezvinsky, 35, who has a BA in religious studies and philosophy from Stanford University and an MA in politics, philosophy and economics from the University of Oxford, has been quietly building his finance career. Before launching his own firm, the longtime Clinton family friend was a partner and global macro portfolio manager at New York- and Rio de Janeiro-based investment house 3G Capital. Eaglevale manages more than $400 million.
But, as The Wall Street Journal reports, things are not working out so well...
The hedge fund co-founded by Bill and Hillary Clinton ’s son-in-law suffered losses tied to an ill-timed bet on Greece’s economic recovery, according to documents reviewed by The Wall Street Journal.
Eaglevale Partners LP, founded by Marc Mezvinsky and two former colleagues from Goldman Sachs Group Inc., 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, according to the letter.
The main fund dropped 3.6% last year, far trailing the 5.7% rise for similar hedge funds tracked by HFR Inc. That followed an Eaglevale gain of 2.06% in 2013 and a loss of 1.96% in 2012, the documents show.
...
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.
“Our recent predictions regarding Greek politics have proved incorrect,” Mr. Mezvinsky and the other Eaglevale founders wrote to investors last week, after a radical leftist party won national elections in an upset of Europe’s political order.
...
Eaglevale is a relatively small player in the hedge-fund world... But its moves have been closely followed, investors said, partly because of Mr. Mezvinsky’s family connection. Ahead of the firm’s launch, Goldman Sachs hosted group sessions for prospective investors that drew standing-room-only crowds. The investment bank is one of the firm’s prime brokers, which help hedge funds execute trades and introduce them to potential backers.
Goldman Chief Executive Lloyd Blankfein is an investor in Eaglevale’s main fund, people familiar with the matter said.
Since its founding, Eaglevale has spent 27 of its 34 months in operation below its “high-water mark,” a term that describes whether a Day One investor is in the black.
* * *
And in conclusion, why the fund will likely see massive redemptions now... the ten words no one wants to hear from their hedge fund manager - no matter who his in-laws are:
“We are reticent to render decisive predictions at this time.”
* * *
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Looks like she will get her chance to care about money now.
No way that could have happened. He's one of the "best and brightest". His education credentials say: "Hey look at me... I never even took a math course!"
Cattle futures, duh.
What does Chelsea's father Web Hubbel think of this?
Mezvinsky's father had an equally keen ability to make funds disappear.
Well Wel Well , I guess the gods of Greece are well alive after all
long live the Justice of Zeus
That is one terrifying photograph.
Can you imagine what the kid will look like? ;-)
Hedge fund losses on Greece are what the "solution" to this parasitic draw on citizens and economy will be made of (partly, anyway).
Knowing the Clinton's, they'll sell the baby trying to make up for the losses.
She looks like she's trying really hard not to cry. You know, childbirth causes regression when all the suppresed emotions that got stirred up when she discovered her father is a total perv and her mother is a lesbian wannabe resurface and get expressed. That of course assumes she has some semblance of a soul left after being raised by those two power-mad lying piece of shit assholes.
The sweet American family from hell.
Is the kid's name "Damien" by chance?
Ad "sweet American family".
This group photo is an impressive document of what America stands - ever stood - for: Honest people enjoying the fruits of their hard work. And thinking that that witch-faced scarecrow in the second row was deadbroke not a so long time ago.
P.S. How many liters of botox had to be injected into to faces of B&H for this shot? Or just photoshop?
They have done a rather nice job of hiding it's tail in the swaddling blanket.
Where did they misplace the chromasone?
Oh, wait a minute.. I think see algore's chakra on the left in that family photo.
Losing OPM is really not too painful. I suspect he'll still take his generous fees and commissions and simply tell his poorer investors, "Sorry, it was a bad judgement call. Lets move on and look forward now."
power mad carpet bagging sons of bitches.
OMG..
The Peter Principle Poster Family.
... >>> @JSBach: "The sweet American family from hell." ... this must be the definitive link ... >>> http://1984arkansasmotheroftheyear.blogspot.ca/2012/02/chelsea-clinton-is-biological-daughter.html ...
The only reason Hillary didn't abort Chelsea like her prior pregnancies was that Bill thought he needed a traditional family photo op for an Arkansas gubenatorial run... The whole family is like a cross between the Kardashians and "Absolutely Fabulous" ,,, Hillary and Webster ,, Vince dead in the park , cattle futures (!) , crooked land deals...
Meh, at least "Absolutely Fabulous!" was hilarious! :>D
The kid made money losing other people's money and says "sorry".
He'll fit right in with the Clinton Clan and "Uncle Jon" Corzine.
I'm sure he was mortified ... Greek debt! ... whocouldaknowed?
fucking disgusting "family".
neidermeyer
Damn you. You forgot Bengazi !!!!!
So, Chelsea married a moron. Shouldn't be such a surprise in her family... Besides, what sort of name is Chelsea anyway ? I know of no other woman bearing such a name; however, there is a city in England (and its corresponding soccer team in the Premiere League) going by the same appellative...
Chelsea Handler, who by her own admission likes porking.
Chelsea Peretti.
Mmm, Chelsea Handler!
High maintenance feminist slut. Uses men. Interesting for about 5 minutes until you realize it's deranged.
She looks like Mr. Ed in that photo!
Hurt by the belief Greece's economy will see a quick rebound?
Indeed the most effective strategy how to lose everything. Chelsea's husband fetched up at the end of the greater fool line becoming the greatest fool on the block.
He should rather have started with a demo version.
They must have taken his last shirt, and he had to rush to buy a new sweater for the photo-op. Clearly they hadn't the time to remove the price tag from the right arm.
What a bunch of exceptionalists!
here you go teamdepends
https://i.4cdn.org/b/1423020040435.png
wish i could post direct....
god of Greece?
Well...I'll bet Marc and his goon partners will still take home tens of millions this year. The "and it's gone" script only applies to investors.
Actually this looks more like the work of Nemesis, a goddess who doesn't get enough play in our society (but soon shall)
Oy Vey!!
According to Wiki: Beginning in the early 1990s Mezvinsky fell prey to a wide variety of 419 scams. According to a federal prosecutor, Mezvinsky was conned by "just about every different kind of African-based scam we’ve ever seen."
That's like Bush being amazed by a common Bar-code scanner at a grocery store - Mez thought that because HE was close to wealth and power, the 19 yr old Nigerians - I mean the deposed Nigerian Royalty - thought they might trust him with their millions.
Having not a pot to piss in at that time - was the only reason I didn't fall prey to their wiley ways........
I love/hate that South Park episode, intensely. It somehow tells an important part of story while obfuscating it at the same time
"A really smart decision, young man! We can put that check in a money market mutual fund and then reinvest the earnings in a foreign currency account compounding interest and… it’s gone "
when the FED went down with rates, the ECB lagged in it's response. The difference was small, but enough for gargantuan streams of US savings to be repackaged into certificates of deposits (CDs) which then fed money market accounts and went into all kind of insane, overleveraged exposures to foreign currency (FX) schemes involving all kinds of hare-brained ideas about european sovereigns
"Hot Money", speculation squared, bets on bets on bets. Even now, lots of people are still nursing some pet hates in the FX arena because they still have some pet bets going on
casino financialism in it's purest form
Let there now be no doubt as to whose interests a president Hillary will abide. Wall Street now owns the entire family, though the lying rhetoric says otherwise.
Looks like someone at Eaglevale should be reading Zerohedge! :>D
Why? Bill will just make a few phone calls and everything will be hunky-dory again.
Can't wait for Chelsea to run for Congress or the Senate. And she will win--cause it's NEW YORK.
is he nail gun exempt?
yes cuz he is part of the lucky sperm club
Nothing lucky about what that sperm had to swim through
Dead men tell no tales.
It's no problem. Now he can go from raping his hedge fund clients and whip out his religion degree and start raping little boys in a new Church gig instead. Maybe skim off the collection plate in the process.
After a few years when people get smart to his shenanigans he can just go back into the financial sector..
Church?
Didn't know the Clintons had interracial relations?
Clinton is supposed to be the first black president so...
Eisenhower's mother was black and his father was jewish. A typical mixed mongrel...
The current one is Irish.
Hiccup!
Que?
Who would bet on anything in Greece getting better?
I think you mean "fixed," not better.
Someone thought Greece had dun been told, but go figger. Then along comes reality (or not?) and fucks it all up (same as with Corzine).
It really goes to show you how TPTB think they have everything under control, untill they don't! They were banking on a certain outcome and the party was spoiled. Not exactly what they expected. Think Ukraine next.
Must have used the same insider pipeline that Biden's son used to burn investors. Pipeline to that Obama administration White House costs a lot of people a lot of money.
"Mezvinsky, 35, who has a BA in religious studies and philosophy from Stanford University and an MA in politics, philosophy and economics from the University of Oxford, has been quietly building his finance career."
Sounds like the perfect credentials for someone who spent his privileged life becoming massively enriched by being bailed out by the Federal Reserve.
Looks like baby Clinton might need to take advantage of Obama's plan to give everyone a free two-year college education. Makes for better educated order fillers, waiters and burger flippers.
let the schadenfreude begin. I'll start.
boo-hoo.
This is the first time that I've seen Billybob next to Hillary(!) in years. How'd they get him away from the nurses for that photo?
That baby has earned hiim some new Tribe credentials.
He done leveled up, yet again.
So let me get this straight. The Clinton chick who didn't care about money is married to a guy who just lost a big steaming pile of it. And Chelesea is now going to call up her Mom for help. The woman who came out of the white house "broke".
I can just imagine that conversation.
Broke yet with a chauffer to drive her...hmmmm...
That asshole makes money (at least this year) no matter what his fund does
Misogynist! Razzzist!
Big fat poopoo-head!!! ;-)
This means moar $275,000 speeches for Hillary.
There's an endless supply of people who wish to bask in her beauty, whilst gleaning wisdom that is simply earth-shatteringly brilliant and unavailable elsewhere!
The only thing broke about Hillary are her ideas.
Karma is a...
Hillary?
I guess those investments don't pan out so well without insider trading info.
Clearly an irreconcilable breakdown in communication.
now she'll find out what her poor sweet mom went through when she left the white house "dead broke", which is of course to say, still plenty loaded.
All the furniture and "momentos" they stole from the White House must have been worth something.
hillary's really got some beaver teeth going on in that picture.
Okay you snob you, was that a lesbian crack?
If only she would hold her breath until her face turns blue, Hillary would be a spitting image of Barney the Dinosaur!!
OMG..the baby!!! the fucking baby!!!
Genius
That girl is very ugly in that pic. Think she can get her NBC job at $600,000 a year back? They will need it!
That bitch could walk into a haunted house and come out with a paycheck!
Haha! They'd have to lock the exit doors to keep the ghosts, goblins and ghouls inside.
Epstein wouldnt let her "on" the Island!
Honey, I need you to suck off this rich old jew guy.
Like I do you, dad?
Exactly.
The whole bunch are butt ugly
Don't know.
Is there a market for used shiksas?
"Monkey face", just like the Olsen twins, but worse.
At least the Olsen twins are not psychopaths......
Damn, Chelsea, your cunt is like a tunnel.
Well, mom was here first. There are some keys in there somewhere!
She was conceived by unexceptional contraception.
In all fairness, it looks like it was taken shortly after delivery of her baby.
Pregnancy begets serious weight gain in most women and labor plus neonatal care can sure as hell pump up those bags under the eyes.
Still got mine 20 years later! And I only observed the labor.
But, no, she sure as fuck didn't earn that sinecure with NBC.
All's fair in oligarch war, baby! The child is innocent, but no one else in the photo is.
Seen better looking heads coming
out of zippers. Chelsea can go back to
her old job interviewing the Geico Gecko
for $125,000/hour.
She's not the least bit ugly. She's sleep-deprived. Look at the lines under her eyes. She has a baby waking her up all night because it's hungry or needs to be burped or needs its diapers changed.
came out of hibernation on this site greatrecov to agree with you. let's see a pic of almost all the talking heads here if they had given birth the night before, cared for a newborn all night and faced cameras the morning after. Funny. ZH: ever more mindless. Miles from where it was 2 years past. whatever.
(^: Thank you, SH. Let him who has changed diapers at 3AM - every night this week - throw the first stone. :0)
Rapid hormone shift can lead to tears, rivers of tears during first few hours, I recall a friend having done this, and her eyes were swollen due to this possibly as well.
https://www.youtube.com/watch?v=_BPhYEFGaGM
Larry McDonald on NWO
https://www.youtube.com/watch?v=8fQ6cEZXgjI
Dr Meno with video stating H Clinton and Caroline Kennedy sent to Japan kamikazi style assasinations (interesting obervations)
Thinking the same thing MsC, I was imagining waking up with that laying on my arm. Not good.
Lucky she does not care about money.....
I'll bet Chelsea just got interested in MONEY!
Even Lenny Dykstra did better than that.
(For the young'uns Lenny was a good pro baseball player, but none to sharp (think: bag of hammers). He went into the investment business after baseball and lost a ton of his clients money. That was shortly after Jim Cramer pronounced him "smart" and "innovative" with "a lot of good investing ideas". And no, I didn't make any of that up.)
I filed the original complaint to the SEC about Lenny's fraud when he was still with TheStreet.com. I bet you know what thorough and harsh penalties resulted from that. LOL.
Now he understands the meaning of "I feel your pain". Little bitch.
lol!
couldn't happen to a nicer group of people
Madoffed, bitches.
"Mezvinskied"
Synonym for "Corzined."
A true Greek Tragedy.
He Corzined his company. Bailouts or lawsuits to follow.
48% x $400 million = nothing that can't be stolen again from taxpayers.
Thing is, when these types of people start losing money... well, things tend to get ugly quickly.
Full-retard in Ukraine in 3... 2... 1...
Well, call me judgmental, but it looks to me like ugly has already happened.
Bon mot, Sir. Bon mot.
Chelsea still does not have to worry about money. She is a single child after all and the crooked Clintons will take care of her. Hell Hillary made a million in a week here in Arkansas with illegal insider trading!
RE
“Our recent predictions regarding Greek politics have proved incorrect,”
The fact that A) only these assholes can legally bet on such a thing and B) the fact they didn't see this coming and bet it anyways (when I could of told them that this would of happened 4 fucking years ago after skimming posts on Greece here on ZH) goes to show just how dangerous they are
I am pondering this too. Dangerous? Because they are stupid? It looks that way but I don't buy it.
If not stupid, then what?
~~~~~~~Conspiracy mind, Conspiracy mind~~~~~~~
What if he leads other sheep to slaughter, looks like a famous slaughtered muppet himself (poor Ponzi dumbass victim) and gets paid on the side for his pied piper routine.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Or....?
It's a CIA front funding dirty work?
Maybe Hillary can help out she knows something about cattle futures.
yes Chelsea should have asked for a pic retake.
Will they make a Marc Mezvinsky muppet puppet that we can bend over the sofa and fist?
I can't stop laughing
Holy shit....google "Harry Potter fisting"
https://www.google.com/search?q=harry+potter&source=lnms&tbm=isch&sa=X&e...
No, on second thought, don't do it.
Why would you think Greece is going to improve without write downs and defaults? I don't get it?
Mscreant - My thoughts exactly. Plus 25% unemployment. Even if all the political stars lined up that is going to take a solid decade to clean up.
ditto here too.... once y'all stop chortling over the ugly mugs in the picture (gotta admit, she does look sorta like a blocked punt...), this is the serious question. i can't imagine anybody betting half the house on a greek recovery. either this is money laundering (with a sacrificial son-in-law-career) or somebody acted on some bogus inside information.....or somebody is REALLY stupid. can anybody make a serious case for why anybody would bet on such long odds?
If this is the next FIRST FAMILY then I guess I will move to Russia
Mr Soros! Mom says you need half an hour for that viagra.
Ok, bitch.
That basically confirms that today's ruling Elites are nothing but a group of financial plantation slave-owners. NWO is nothing but the enslavement of the world's working people. There's nothing new under the sun and it's the same man exploiting man. Progress!
"Bill, we demand your daughter be one of our Sluts. Her husband can do what ever he wants."
"Sure. OK!"
that has got to be one fugly baby
After they cut off the horns and tail and seperated the cloven hooves into fingers and toes, it looks almost human.
He might want to avoid nail-guns, highrises, and driving.
He should also definitely avoid piloting a small plane as well. Even if only over to Martha's Vineyard.
The banksters need to repay us.
Webb Hubbell's daughter done him proud, reproducing with a face like that is no small feat.
Are you calling her a "fuck face," sir? Or are you implying she delivered the baby from her mouth instead of...
(Okay, that was mean to do to a girl who has just found out she is going to need to ask mommy and daddy for money because she married a fuck up and she sure does not know how to earn on her own).
"Mezvinsky, 35, who has a BA in religious studies and philosophy from Stanford University and an MA in politics, philosophy and economics from the University of Oxford"
[Michael Palin voice]: Say no more.
Chelsea could go for 20$ a pop.
Get busy, dude.
I'd give her 5$ for a handjob.
Are you saying you would pay $20 to do her? Are you sure? There are other things you could do with $20 that make more sense.
I would pay her 5$ for a HJ.
If she licked it and swallowed.
You know the Clintons stole the china from the White House, right?
Why do you think she wouldn't steal your...
It's lean and mean, nothing to remove.
Doing anything with that would require some very thick beer goggles.
He managed, and his investors lost.
Big difference
No worries! Bailouts for everyone! And, if all else fails, Hillary will get him some new funds from Janet. Maybe "Hill" will get him appointed Atty Gen to replace the new Ms. Holder. He can be the bag man for "Hill" Just like his daddy. He is a shoe-in for the job. His old man can get a consulting job showing him how its done.
FoL - Friends of Lloyd --- were fucked in the drive thru - "standing room only" really?-
why do so many things every day sound like movie scripts anymore?
its a great time for reality based entertainment!
BWOOOOOPPPP!!!!! BWOOOOOPPPP!!!!! BWOOOOOPPPP!!!!! BWOOOOOPPPP!!!!! BWOOOOOPPPP!!!!! BWOOOOOPPPP!!!!! BWOOOOOPPPP!!!!!
Illegal article...
Only allowed, and encouraged, to write about the children of conservatives if it will put them in a not-so-great light. Holder to prosecute. IRS audits being generated now. Sharpton load'n a bus full o protestors to head somewhere, they don't know where, now.
"Our debt, your problem.
Don't forget to vote!"
Tribesman lost money? Well, color me purple.
Tribesman lost money? Well, color me purple.
Tribesman lost OTHER PEOPLE'S Money! It's always someone else's money, land, etc. The legalized term in the west is 'Central Banking'
She could make up some of his loss with BJs and HJs...
You could do that in the dark and not have to look at how ugly she is.
Hitlery: "You have been with a man!"
Chelsea: "Yes, mom."
Chelsea: "No mom, I was with my husband".