Sure, Sciens Capital has supposedly taken over to make people feel less squeamish but according to an investor it's business as usual (ixnay onay adoffmay).
FGG has transferred management of their funds to Sciens who they seem to be representing as a separate party.However, Sciens seems to be basically a bunch of FGG guys.
They're trying to get away from the scandal and the shame associated with FGG by representing to turn over the management of funds to a 3rd party, except the 3rd party essentially seems to be themselves / their ex employees. Smoke and mirrors show for the investors...nothing has changed.
Sciens Global Strategic Presentation [PDF]
Posted by guest , Jun 24, 2009 4:05PM
Why are these spawn of a dumb satan not in prison?
Posted by guest , Jun 24, 2009 4:24PM
I have a strict policy of not investing with companies whose names make me think of a vascular structure at the tip of the penis.
Posted by guest , Jun 24, 2009 4:34PM
Guest@#1,#2...
Sciens Capital Management
Phone: 212-471-6100.
Call that number and express your displeasure.
The Guy from Delaware
Posted by guest , Jun 24, 2009 5:22PM
Would anyone be dumb enough to give them money?
Posted by guest , Jun 24, 2009 5:32PM
@4, don't know, but there seems to be a prevailing attitude in the world of hedge funds that all sins will be forgiven and that it will be back to Business As Usual in short order. The thought that any investor could do something so bold as check the background and track record of a fund manager has not yet crossed many minds.