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Ex-Hedge Fund Manager Forced To Sell Beloved Teddy Bear Collection

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Paul Greenwood is a hedge fund manager who is probably going to go to jail for defrauding clients in a Ponzi scheme, which he pleaded guilty to a few weeks back. For that he does not deserve your sympathy or pity. What he did was wrong. But he's also a man who today is having the one thing he cared about most in this world taken away from him. The only thing he cared about. The thing he loved most. Naturally, I refer to his prized Teddy Bear collection.

Greenwood owned 1,348 teddy 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."

And now, he's being forced to auction off the majority of the bears at Christie’s next week, probably to pay for legal fees. Bloombergnotes 1,300 are up for grabs, meaning Greenwood is presumably holding on to the ones he keeps in bed with him, but this still hurts, tremendously. And don't even think about suggesting he order up a bunch of Vermont bears to make himself feel better. Those things are pieces of shit to him.


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Hedge Fund Manager Who Spent Investor Funds On Prized Teddy Bear Collection Gets Five Years Lopped Off Sentence

Teddy-loving Paul Greenwood will be home sooner than he and his beloved stuffed animals thought.

Hedge Fund Manager Wants 35 Percent Of Ex-Wife's Shoe Collection For Reasons Not Entirely Clear

Daniel Shak is the founder of SHK Management, a hedge fund that reportedly "pulled the plug on its sole investment, spread trades on Comex gold futures," last year. Daniel Shak is also the ex-husband of Beth Shak, who he divorced three years ago and is now suing for allegedly hiding assets in an attempt to cheat him out of settlement money. The assets in question? Twelve hundred pairs of designer shoes, which Shak claims his former wife "hid" from him in a "secret room." The way DS sees it, the footwear collection, which includes "Christian Louboutins and other high-end designer shoes" is worth approximately $1 million and he wants at least 35 percent. The way Beth Shak sees it, this is crazy (“I’m shaking my head over this whole thing,” she told reporters. “He is saying he didn’t know the closet in our master bedroom existed") and she doesn't understand why her ex is going after her shoes now. At this time there appear to be a few possible explanations: a) Daniel is raising money to re-launch his fund (he told the Journal, after liquidating SHK in January 2011, that he'd be "trading again in a few weeks," though it's unclear if that happened). b) He's got gambling debts to repay ("A poker lover himself, he was reached at a card table yesterday but declined to comment"). c) He and John Mack are going to sell them out of the back of a truck. d) He just really appreciates women's shoes. e) Other Hedgie sues poker pro ex-wife over her 1,200-pair designer shoe collection [NYP] Related (...?): Hedge Fund SHK Liquidates, Rattles Gold Market