Edward Filippi, previously with Lehman Brothers Holdings Inc., raised $35 million for a hedge fund investing in energy, metals and agricultural derivatives.
The Ground Zero Strategic Commodities Fund may begin trading in the first quarter of next year, according to Filippi, who spent a year selling commodity investment products for Lehman.
Ex-Lehman Banker Filippi Raises $35 Million for Commodity Fund [Bloomberg]
what an idiot.
I never would’ve come up with something so stupid.
-Dick F
Great tag!
oh, you bitch.
-lloyd
excellent tags, particularly gs
The Final Solution Strategic Growth Fund
ha ha. He’s 33.
$35mio cap raise is not real money.
what’s the big deal?
-AH
@8 I knew some douche would say that.
awesome tags
Tags = funny, like a big floppy cowboy hat, it’s funny.
-@10
Douche or not, its true. by the time you are done keeping aside margins etc, you are p!ssing around with $10mio trades. Why bother?
Gaschamber Global Strategies
I make that much in a 6 months.
New Canaan Killing It
Agree with @8, might as well open up a lemonade stand and call it a day.
@6
Do you offer a levered product?
35M is not bad for a bonus
@17 – Yes, several.
Wow, I guess “Butcher The Infidels Ltd.” must have been taken.
Which one of these is not like the others?
Trick CFA LII question.
Pogrom Diversified Strategies (Gdansk) Ltd.
Famine Arbitrage Fund (Dublin) Llc.
Yada yada yada
@13, if it’s an unlevered fund, he can take care of margining with a pretty cheap L/C.
When I was an analyst pup, some colleagues and I started a $35K “hedge fund” doing the same thing as this guy–mostly buying OTM oil puts, strike prices in the neighborhood $30/Bbl.
Our returns were something like -99%, but the overhead was nothing!
Point is, it’s possible to have a commodity fund at $35 MM.
so, new guy 33yrs old gets at most 1.5% and 15 for his POS fund.
on 35MM that’s 525K per year for expenses – bet he’s livin large in mama’s basement on that. if he actually makes 10% returns (I might bet his whole fee against it), his carry is another $525K.
He’s a playah…
@24 – Maybe he would just rather work on his own that to hang out with arrogant, pretend MOTU pricks like you all day. Ever think of that ?
@24 got it right – this is a non-story. Of course he can’t attract “talent” – he can guarantee cold weather and frigid Swiss bitches and that’s about it. Bloomberg is bottom feeding. I like the side mention of “one year selling commodities products”. I’d take Eddie Murphy from Trading Places in a heartbeat.
@26 (24?) – The “story” is the guy’s poor choice of Fund name, but thanks for playing toolbag.