Tags: fairly chaotic situations, Hurricane Sandy, John Seo, NBDs, the zen of cat bonds
Fermat Capital Management’s John Seo lives in Westport, Conn., and so the faux-pas narrowly averted by New York’s next mayor and not-New-York’s-next-mayor does not concern him. Nor, it must be said, did the thing whose anniversary will send Messrs. de Blasio and Lhota into sack-cloth and ashes, not only because it only meant nothing more than a few days working at home in his underwear, but because anything that does not require him to activate the emergency escape submarine he keeps in the fourth bay of his six-car garage is, by definition, a mere inconvenience.
For a couple of days last fall, after Superstorm Sandy had flooded much of the Connecticut coast, flattened dozens of homes and left several trees blocking the roads near John Seo’s home in Westport, the hedge fund manager was unable to go to work.
That in itself wasn’t a problem. His office for Fermat Capital Management — located just off the Saugatuck River, which had flooded badly — had actually fared the storm quite well. Plus, he and his staff could work remotely from their respective homes….
Seo spends his days considering the sort of storm that will one day bring five times as big a punch to greater New York.
“Sandy was still a fairly chaotic situation,” he says. “But it’s not the so-called `Big One.’ “
For Westport hedge fund, Sandy wasn’t the “Big One” [Connecticut Post]