Greek Tragedy: Hedge Fund Style

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The New York Post has a story today on the daughter-marrying hedge-fund manager Bruce McMahan. There’s not a lot new in the story but it serves as a useful confirmation that this really happened .
It’s a bit easier of a read that the original New Times story too, so if you missed yesterday’s item you might as well start with this one.
One of our favorite parts of this story is that running a multi-billion dollar hedge fund is apparently a step-down on the ambition ladder for McMahan. He started out trying to found his own country. A country made of trash.

After graduating from the University of Southern California in 1960, he planned to sink a mothballed World War II ship off the California coast.
Then he'd pile on concrete, clay, landfill and garbage - to create an island outside American territory.
There, he and his partners were going to corner the world market on abalone fishing - and not have to pay a penny in taxes.
The plan never got off the ground - and it's not mentioned in his official biographies.
After bumming around Europe for six years, he washed up on Wall Street, at PaineWebber. He later moved to Bear Stearns where he became a partner.
He branched out on his own in 1980, when he started his own trading firm and fund.

A Father Who 'Married' His Daughter [New York Post]

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