One Giant Leap

I don’t know where we were when this groundbreaking news hit the wire but on a conference call yesterday afternoon, the London based hedge fund called Peloton Partners apologized to investors for losing billions of dollars. Apparently this is a big fucking deal in hedge fund land, where being a rich prick means never having to say you’re sorry. Of course, founder Ron Beller didn’t actually use the ‘S’ word, though he did say he and his co-captains, Geoff Grant and some other guy, couldn’t “come up with the words to express our regret adequately,” or the actions either, which would probably be along the lines of magically producing the money they let go astray.

Peloton Sorry For Fiasco [FT]