Hedge Fund Manager Puts Goats To Work

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Mark Spitznagel, the founder of the $6 billion hedge fund Universa Investments, on Thursday brought 20 billy goats to graze among abandoned homes and general detritus in Brightmoor, one of Detroit’s most blighted neighborhoods. Not to be outdone by JPMorgan Chase, the country’s biggest bank, which recently pledged to invest $100 million to help Detroit over the next five years, Mr. Spitznagel says he is contributing directly to the community. “It’s an urban farming experiment,” he said of his plan to leave his goats to roam and munch on overgrown grass. “Goats are an effective way to do landscaping,” he added...Mr. Spitznagel will enlist the help of the community — paying previously unemployed adults and enlisting the help of local youths to herd the baby goats — and he plans to build portable housing for the goats in addition to pens and electric fencing. At the end of the summer, Mr. Spitznagel said, he will sell the goats to Detroit butchers and give the proceeds back to the community. [Dealbook]

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Area Hedge Fund Manager: Leave Harry Alone!

As you may have heard, earlier this week the lovable scamp that is Prince Harry of Wales got in a bit of hot water when he was photographed ass naked in Las Vegas, with a bunch of equally ass naked ladies, following some sort of swim meet with Olympic gold medalist Ryan Lochte. Those photographs, some of which involved a billiards table and pool cues, were subsequently run on the covers of various newspapers and the Queen, being none too pleased, told her grandson to get on the first flight back to London (apparently in a tone so scary he knew she meant business and "did not mingle with other passengers," instead remaining "in the upstairs cabin of the 747" to think about what he'd done). While it's unclear what kind of punishment the Queen has in mind, or if she's yet delivered the sort of tongue lashing generally reserved for naughty Corgis and her subjects at RBS, in the meantime many have come to the prince's defense and advised the old lady to back off, like the hedge fund manager the Times found on the tube who thinks the Queen should relax and have a good laugh about it. She'd be doing the same thing if Prince Philip ever gave her a weekend off. Among people surveyed at random in central London, including subway commuters reading about the Las Vegas incident on the front page of the tabloid the Evening Standard, the verdict was mostly thumbs-up. “I think it’s quite funny,” said John Daniels, 46, a hedge fund manager. “I’m sure most people would like to be doing exactly the same thing, especially in Vegas. This is his own private time and people shouldn’t be taking photographs of him.” For Prince Harry, Vegas Exploits Didn't Stay There [NYT]