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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.
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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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Chelsea- "Don't worry mom, his dick is really tiny"
Mom, it's like a big Clit. I have not abandoned the Sisterhood.
Or maybe, "no mom, I was with your husband"
WHen gs was a partnership and gambled with partner money, they hired the best and brightest. The smart, poor kid from Atlanta got the job. Now? The best connected daddy's boys get the post. AFter all, gs never loses. If it does it simply calls "overs" and new money appears like magic. Do you think this little jerk off will ever go a day without a meal? DOnt count on it. Blankfein "is an investor." He thinks he's buying an insurance policy.
jan 2017 Pres Clinton sworn in, Feb 2017 Greece invaded.
These Republicans deserve it! Oh wait... they are Clintons. Ah well how sad this is then.
Mezvinsky doesn't have a thing to worry about. He's married to royalty, and the financial world will always have a sweet job on offer for him.
Thank God for dipshits like this so that I can continue to make money trading. Maybe, like his ditzzy wife, he "really tried" to like money but in the end just couldn't.
www.traderzoo.mobi
Lookit them reptilian smiles...fuggen freaky...
Last time I saw a mouth like that, it had a hook in it!
Caddy Shack - Rodney Dangerfield
Now he has TWO good reasons to reach for the nearest nailgun.
I count three
I count four.
And then there is the actual failure as a Fund manager, so five.
Remarkably, Chelsea is even less attractive than her mother and I would not have thought that possible.
Chelsea's husband looks like a short bus rider
"By 'incorrect' Chelsea Clinton's husband means the Eaglevale fund focused on Greece lost a stunning 48% last year"
He got "Corzined"!!!!
Here's the thing though....
Slick Willy knows his way around women, just how in the hell did he end up with Hilary?
This has always confused me.
Squid
And pantsuits.
partnership of political convenience
Dude - Webb Hubbell was not a movie star, and he intially entered Hildebeast from the rear. Then came the animal sounds ... you know what I mean...
Too much information!
It's only other people's money so what difference does it make?
That smirky grin on his face says that he pocketed millions in fees despite the losses.
He was incorrect in his choice of spouse.
Note to self: Send Sympathy Card.
well i guess being wrong all the time is contagious by marriage
With any luck we will see him catch a case of nail gun poisoning like the other fraudsters in the banking world.
One could only hope before they produce more disugstingly fugly offspring.
Consider the losses he experienced in marrying one of the more frightening faces in today's America.
he must be the only HF who has lost on Greece.
How can you lose when the Troika guarantees you a steady stream on each carry trade?
He must have bet that Greece's gas find would appreciate and the price went down. Or maybe that Olive oil would be the most contango commodity since they took bitcoins off the silk road.
Chelsea don't care about money so it's OK her husband's a failure and a loser.
Irrelevant. He gets paid. Anyone who criticizes should avoid travel in light aircraft
What fucking universe was that star rising in? For the love of god, how do these losers every manage money like this.
Well if they read zerohedge they'd know not to touch Greece with Bill's dick wouldn't they?
She's no Bush twin.
The little cunt's inheritance will probably in the vicinity of 2 Billion Dollars. I'd bag her.
Then you would reap what you sowed, like Clinton's breeder is reaping (the proper term is "stud" but you know why, in his case, I did not use it).
I'd double bag her.
Isn't a hedge fund really a Ponzi scheme???
So Clinton's son in law bet on Golden Dawn and austerity winning while bombing the shit out of Syria and Ukraine and Africa creating the mother of all budget busting Greek refugee crisis?
And Russia, they didn't know sanctions were coming?
I'm guessing all these losing bets had winning counterparties with Hillary's name on the trades.
You are probably Right, I am sure he did not lose any of his own money.
It's always OPM
Bingo. Rinse, repeat...
I'd like to see the other side of that trade, coming to a theatre near you on or before next October.
Chelsea's husband really isn't that bad looking. He must have married her for her.... personality.
And I thought you were going to say Secret Service detail.
"Looks good to me!
Here, Marc: Here's 400 million dollars. Go out and invest in something and make me some money."
Why are you looking at me that way?
Look at him. He's just a kid. And he looks like he never did a day's worth of ditch digging in his life. So how can he possibly "value" any actual enterprise? Just another spoiled well-born kid riding the gravy train, losing other people's money. In England, he would be Lord Toobigforbritches or the Earl of Marryright.
How are deals of Biden's son working out in Ukraine?
We know how this is going to end.
I say put the kid in jail right now.
"And just like that, he's gone."
(The money, that is).
poor girls needs to get some sleep........or something
Bill: "There wasn't any Clinton Foundation money in your hedge fund, was there Marc?"
Bill: "Marc?"
Bill: "Speak to me, Marc."
I'd wager a goodly amount was washed with the rest, yep.
It doesn't matter, when a Clinton investos, they never lose: https://en.wikipedia.org/wiki/Hillary_Rodham_cattle_futures_controversy
All that photo needs is to add Hitlery's aid, Hummer and her Weiner.
That would crack every LCD screen in the known universe.
And we sit here and watch the precious being held down at dang near our breakeven point with mixed emotions.
Sometimes, we are angry because we watch it being relentlessly smashed into the dirt for no apparent reason. The futility of it, for lack of a better description is humbling at best.
And then we are giddily overwhelmed at the hint of a rally (no matter how small ... any rally is celebrated here ) and then see that rally squashed for no ascertainable reason whatsoever.
We're feeling a lot like a trapped and wounded animal.
The 'powers that be' should be reminiscent of the danger in dealing with trapped and wounded animals.
No worries. When you marry the boss's daughter you can never fuck up.
Have you met General Petraeus? Lordy, Lordy! Plays a hell of a game of golf though...
I tried to care about money but I couldn't. That is why I married YOu YOU USELESS PIECE OF SHIT!!
Sorry you posted late. This is THE comment for the thread. Nice.
And in other news, Marc Mezvinsky just found out wife Chelsea pawned his dick.
You don't expect her to pawn her own penis do you? She's a Clinton...she'll need her dick to f*@% some folks later.
Nobody wants to hear about your crying game; just watch how much you drink and wear a condom next time.
Id'nt he, Marc Mezvinsky, look like he has a vibrating egg in his arse??
- Queer kind of chap
- perhaps he has access to the royal coke
- Likely he puts feces on his upper lip to get through the pomp
Sounds like he got some insider advice about Greece that didn't pan out.
I still say Putin has his fingers busy in Greece and Turkey as a plan B just in case plan A in Syria falls through. If he can't stop the natgas pipeline in Syria a conflict between Greece and Turkey would be a messy but effective alternative.
Say what you will, that guy washes like a pro.
Orgasmic schadenfreude.
He didn't go to Harvard/Yale/Princeton? No wonder...
The Clintons are filthy with sex and money.
The impeached, disbarred, serial rapist's daughter? huh.
Meet future Treasury Secretary Mezvinsky, but you can also call him Mr. Clinton. He doesn't know what he's doing, but he's doing all the right things to reach the top.
I am so sorry! That cant will only be a multi-millionaire now, not a multi-billionaire...at least now. Give it time. Tragedies like this make me really feel for what our future
Pres-O-Dents will have to go through.
We should start a fund or something.
Lets call it the "global fund for humanities in respect for all elite humanity in need of arrays of Guillotines" Fund.
That comes to GFHRAEHNAGF.
Rolls off the tongue.
Forget the money---Lord knows the Clintons have plenty of that. Nobody who matters has any more money in Greek investments than they can afford to lose. They sold it all to the troika.
Mezvinsky's real wealth is in an asset money can't buy. If by some miracle the banksters are overthrown in the US in the near future, a Jewish husband will make retiring to Tel Aviv a lot easier for mother and child---and for grandma and grandpa too.
Marc Mezvinsky, meet the Fockers!!
It's another two-bit psy-op. Look at that toady. A useful idiot if I ever saw one. Now Shill -in-law Bill can say, "Shucks, ya never know what's happenin' over there in that kooky Middle East."
My gut tells me they did well. They seem to cash in the chips of the people closest to them with impugnity.
Fuck me - she looks AWFUL. How does he get it up for that?
As the old saying goes: "Beauty is but a lightswitch away".
That said, Chelsea is Fugly.
It's either doggy style, with the lights off, unbelievably shit faced or he was paid.
Aren't all of them whores anyways?
Can you imagine the stench.
Oh God, just fucking shoot me, please!
Your typical functional Americkan family..A bull-dyke,a kyke,a sociopath,and a psychotic..The baby should be just fine..as long as it get's to play with Bill's mahjong balls once a week..
He was probably away from his desk when the memo was passed around....
http://www.realjewnews.com/?p=482
Got no money to buy his son the GI Joe with the Kung Foo grip.
https://www.youtube.com/watch?v=uI4fVgVVpiw
Time to call up the Fed and Obama and arrange a bail-out.
I suffer from an acute case of schadenfreude and this news gives me tremedous pleasure . It's fantastic to know that the enemies of mankind suffer bad luck !
I suffer from the chronic form of schadenfreude.
It's not really "suffer"...more like enjoyment.
What a bunch of evil freaks.
Baby diagnosed with Bernie Madoff Syndrome
"The sins of the father are visited on the son"
and looking at the baby ........ you can imagine what karma is gonna do to this bunch of dingbats spawn now that Billybob's pedophile case is gaining traction before Hillbillie Klingon's shot at O Bomber's janitorial "white" house gig.
Subject: Birds of a feather
FATHER OF THE GROOM
It figures ... We tend to marry into families who share like values!
By: John Popovich
"Before I came to Cincinnati, I was a news reporter at WOC in Davenport Iowa. I covered a lot of city council and a lot of political stuff. One of the guys I covered was Ed Mezvinsky, who was the Congressman from Iowa's first district.
Seemed like a pretty nice guy, but when he ditched his wife for a New York reporter, the Iowa voters ditched him.
My most vivid memory is that he sat on the House Judiciary Committee that was deciding the fate of President Nixon.
Anyway, years later, "Fast Eddie" got caught with his hand in the till. He cheated investors out of more than $10 million dollars. He went to prison for several years."
Atleast Hillary will be well-informed about the direction to take our economy when she becomes president.
Run Muppets Run!!!!!!!!!
Maybe Hillary could get John Corzine as her chief of staff?
We always thought politicians and bankers were in bed together.
They are, literally.
Even worse they are breeding - psychopath banker/politician hybrid alert.
Move over alien - the psychopath banker/politician hybrid will be the ultimate predator.
Not to worry...
Hillary can always go back to Cattle Futures "Trading" to keep the family finances afloat.
I'm sure that Merzinski (Irish?) "Investor" Lloyd Blankfein (NOT Irish) would only be too happy to expedite the "paperwork" .
(WTF is with Chelsea's mug? )
Like father like son.
This guy's dad was a total crook and actually went to jail (back in the days when looting was prosecuted).
https://en.wikipedia.org/wiki/Edward_Mezvinsky
Jeez, they are all crooks.
Just got my copy of "All the President's Bankers" with 20 free sick bags.
I don't think it's going to be enough.
The looks on their faces is really creepy is it not? Bill looks like he's looking at some hottie with a huge rack, the son-in-law is looking at bills reaction to what he just saw, Hillary looks happy that bill will be gone with that girl he's starring at so she can be with humma and Chelsea looks like she knows how this story is going to end.
corzine bet big on greek bonds and well there you go. (on inside info it was safe)..seems a sucker keeps lining up to bet on EU bailouts ..was JP morgan on the other side as in the corzine gambit?
No worry Ukraine hegemony and Saudis will fix the problem... MOAR WAR schadenfreude? NFW https://www.youtube.com/watch?v=RM0uvgHKZe8
THEY LUV US 4 OUR FREEDOM..... These CFR creeps profiting off murder and austerity will rot in hell not soon enough..
No worries Hunter and http://0.tqn.com/d/politicalhumor/1/S/D/7/kerry_bunnysuit.jpg the other assclowns are on the job.... Baa Baa the sheeple respond.
USSA USSA USSA "Sweet Caroline"
hurt by the belief Greece’s economy will see a quick rebound.
This is called "believing your own bullshit".
I guess they'll be dead broke again
https://www.youtube.com/watch?v=hKbFPdhDUEI
Damn, she's still butt-ugly. Butt-ugly people should not wear moo moo's. That's for mom and daughter.
what might have happened was ...... it was bill and hillarys money ..they slid it to the kid.. for one reason or another . . . Jim Willie is saying the Clintons hide thier money in banks in Panama . . most of it from Drug Deals , and bribes from big oil , big corps. thank you NAFTA . . .
Fucking moron.
oops
Some folks tooks some risks and lost some money.
The kid misunderstood Bill when he said something about the Greek's not going down - understandable.
Why is Chelsea Clinton so ugly?
Because her father was Janet Reno...
(Old joke heard back during papa Bill's day in the orifice office. As I recall it was a Clinton staff member that came up with that. Can't remember who).
How does this twatbag who "has a BA in religious studies and philosophy from Stanford University" even get a job running fucking money..? Wall Street is such a sick, nepotistic (is that a word?) cesspool of worthless scumscucking fuckbags....
Is he a religious nutter? Maybe he needs to step up his prayer regiment...
This is a trivial & irrelevant loss compared to marrying into the clinton scum AND breeding with them - UGGGGHHHH - the thought makes me want to PUKE !!!!!!!!!!
"That's an ugly baby, ma'am."
(I always wanted to say that.)
I just threw up in my mouth when I saw that photo
"ill timed bet" Fred Flintstone puts it elloquently.
https://www.youtube.com/watch?v=N57SxyxUhTQ
OY Vey ! Poor Chelsea will become a bag lady, if no one will help !
How about setting a fund for Chelsea to prevent her becoming homeless & a bag lady ??
Come on people. Be generous !