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Hedge Fund Manager Puts Goats To Work

Mark Spitznagel, the founder of the $6 billion hedge fund Universa Investments, on Thursday brought 20 billy goats to graze among abandoned homes and general detritus in Brightmoor, one of Detroit’s most blighted neighborhoods. Not to be outdone by JPMorgan Chase, the country’s biggest bank, which recently pledged to invest $100 million to help Detroit over the next five years, Mr. Spitznagel says he is contributing directly to the community. “It’s an urban farming experiment,” he said of his plan to leave his goats to roam and munch on overgrown grass. “Goats are an effective way to do landscaping,” he added…Mr. Spitznagel will enlist the help of the community — paying previously unemployed adults and enlisting the help of local youths to herd the baby goats — and he plans to build portable housing for the goats in addition to pens and electric fencing. At the end of the summer, Mr. Spitznagel said, he will sell the goats to Detroit butchers and give the proceeds back to the community. [Dealbook]

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17 Responses to “Hedge Fund Manager Puts Goats To Work”

  1. Single in Fidi says:

    Long goats, short grass

  2. Guest says:

    Locals herding in an Escalade with 30" rims and a Glock pistol?

  3. Danker_Banker says:

    Sounds like a ba-a-a-a-a-a-a-d investment

  4. Guest says:

    "paying previously unemployed adults and enlisting the help of local youths to herd the baby goats"

    smart money would pay the previously unemployed adults to mow the lawn and not get goat shit everywhere.

  5. Guest says:

    20 goats? Roadtrip!

    – J. Gundlach

  6. Detroit says:

    who eats mutton? stump up and give us the wagyu cattle, hedgeboy!

  7. Bubbles says:

    Never rub another man's rhubarb.

  8. Guest says:

    try to get his one past the USDA.

  9. Danker_Banker says:

    We welcome this type of community investment. Please send sabayah and bizbaz sauce.

    –the Detroit Somali community

  10. Gueston says:

    Goats are so 2000 and late.

    -L Zacharelli

  11. Nassim T. says:

    "Spitznagel's first attempt used Black Swans, but no one could predict where they would end up"

  12. Guest says:

    You've got to be KIDding me.

  13. guest says:

    Dumb, sheltered rich folks "helping out" the po' folks never gets old.

  14. Guest says:

    you telling me a craker is pimping these goats?

  15. Dr. Sattler says:

    Detroit doesn't want to be fed, it wants to hunt!