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Would You Buy A Fund of Funds From This Man?

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It’s one of the perennial temptations for a financial journalists—to drop the journalist bit and go directly after the financial bit. There’s always some part of a financial journalists mind that asks, “If you’re so smart, why aren’t you rich?”
And now it seems CNBC’s Ron Insana has given into the temptation. He left the network in March, reportedly to start a private investment letter. But it you are going that far, why not go all the way and start your own fund? So Insana’s starting his own fund of funds.
After more than a dozen years with CNBC, Insana’s probably well-connected enough to raise the initial capital to get started and knows the players well-enough to get in the front door of some prominent hedge funds. But is Insana going to actively manage the fund or is he a figurehead? There’s nothing in the reports on the actual investment strategy of Insana Capital Partners beyond the idea that he will use his relationships to make investments.
Insana Going Into Fund Biz [New York Post]