• 06 Jun 2014 at 11:51 AM

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]

17 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (17)

  1. Posted by Single in Fidi | June 6, 2014 at 11:53 AM

    Long goats, short grass

  2. Posted by Guest | June 6, 2014 at 12:07 PM

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

  3. Posted by Danker_Banker | June 6, 2014 at 12:10 PM

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

  4. Posted by Guest | June 6, 2014 at 12:10 PM

    "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. Posted by Guest | June 6, 2014 at 12:11 PM

    20 goats? Roadtrip!

    – J. Gundlach

  6. Posted by Detroit | June 6, 2014 at 12:15 PM

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

  7. Posted by Bubbles | June 6, 2014 at 12:20 PM

    Never rub another man's rhubarb.

  8. Posted by Guest | June 6, 2014 at 12:21 PM

    try to get his one past the USDA.

  9. Posted by Gruff | June 6, 2014 at 12:31 PM

    "cabrito".

    Fixed it for you.

  10. Posted by Danker_Banker | June 6, 2014 at 12:36 PM

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

    –the Detroit Somali community

  11. Posted by Gueston | June 6, 2014 at 12:37 PM

    Goats are so 2000 and late.

    -L Zacharelli

  12. Posted by Nassim T. | June 6, 2014 at 1:55 PM

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

  13. Posted by Guest | June 6, 2014 at 1:57 PM

    You've got to be KIDding me.

  14. Posted by guest | June 6, 2014 at 3:25 PM

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

  15. Posted by Guest | June 6, 2014 at 5:07 PM

    you telling me a craker is pimping these goats?

  16. Posted by Haich Jay | June 9, 2014 at 1:48 PM

    I don't think they've even grazed the surface on this.

  17. Posted by Dr. Sattler | June 9, 2014 at 2:02 PM

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