Ralph Cioffi: Just When He Was Out, They Drag Him Back In

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Ralph Cioffi, the portfolio manager of the two Bear Stearns Asset Management hedge funds that collapsed in June, has been quietly attempting to put together another fixed-income hedge fund, Roddy Boyd of The New York Post reported this morning.
His biggest obstacle?
If you said, "Investors pissed off that he lost all their money" you clearly haven't been paying attention. These days hedge fund failure might not quite mean never having to say you are sorry but it certainly doesn't mean you'll never eat lunch at San Pietro again.
Apparently Cioffi's biggest problem is that has been working as a consultant at Bear Stearns and they don't want to let him go. According to Boyd, they are using his millions of restricted stock to try to persuade him to stay on.
Welcome to Wall Street, 2007. You can take losses any time you like, but you can never leave.

Crushing Bear Hug For Hedge Fund Honcho
[New York Post]

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