Bad news: We lost a little money. Good news: founder Richard Perry's wife makes those sexy white leather man-purses he wears, so even if we were to go under-- which we won't-- the murses are safe. September Performance -7.70% QTD...

"[Richard Cayne] Perry represents a new breed of hedge fund manager...He has completed four triathlons, yet when he's away from the office he carries a white patent-leather murse (that's a man-purse) designed by his wife." Looking For Trouble [Fortune]...