Good looks aren’t everything, but it might help you attract more assets
In today's Breakfast with Benjmain, looks might help money managers land more assets, but they also tend to underperform. Plus: Darryl Strawberry's contract balance goes to the highest bidder, Florida investment manager charged with bilking $17M from clients, and a hedge fund manager uses proper etiquette after losing his clients' money.
- Better-looking money managers attract more clients, but they also tend to underperform. So, there’s that. Looks aren’t everything
- The winning bidder in an IRS auction for $2 million worth of annuity payments from a 1985 contract between the NY Mets and Darryl Strawberry is paying $1.3 million for more than 18 years of monthly payments of $8,891.82 each. Bidding at Tuesday’s IRS auction started at more than $900,000
- The SEC has charged a Florida-based investment manager with treating $17M worth of client assets ‘as his personal piggy bank.’ You’re not supposed to do that. Making Ponzi-like payments to investors
- Hedge fund manager sends letter of apology for losing all but $200,000 of the firm’s money. Hey, at least he apologized. My bad
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