Last week we discussed the terrible news visited on former hedge fund manager Paul Greenwood's house: that he was being forced to sell his beloved teddy bear collection. To recap, Greenwood owned 1,348 bears, one of which was valued at $80,000, with the total lot being worth an estimated $3 million. And unlike some alternative asset managers we can think of, ashamed for people to know about their decorative dolls, Greenwood kept his babies showcased in “collector display cabinetry” at the top of a dramatic spiral staircase in his home and kept track of via a spreadsheet that noted specifics like “full-dressed in sailor suit, lavender-tipped mohair coat [and] felt spats.”
Unfortunately, in order to legal fees associated with the Ponzi scheme Greenwood pleaded guilty to several months back, he was forced to put his softies up for auction, which took place at Christie's last night. Thirteen hundred of the grown man's closet friends sold for 1.1 million pounds ($1.75 million) and now, he's pretty much thinking he's got nothing left to live for. He probably doesn't even care that he's likely going to go to prison for at least several years because without his babies, there's nothing left for him in this cruel world, right?
Wrong, and not on our watch.
There are two ways to respond to such setbacks in life:
1. Quit like a bitch.
2. Strap on a pair and get back that which will make you whole again.
The above options require that Paul ask himself how he wants to be remembered. Does he want to be remembered as a pussy? Or does he want to be remembered as a man (who keeps an excel spread sheet of his plushies)? I know he's telling friends his million-dollar bears don't matter and that he'll "just order up some POS Vermont teddies," but that's just the depression talking. Deep down inside, Greenwood knows he wants/needs the latter, which is why we say-- let this be your motivation inside the joint. Keep your head up and know that with a little hard work, once you get out and start up another scam to defraud investors, they'll come back to you.