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If You've Been Thinking About Starting A Hedge Fund That Invests Exclusively In Show Dog Semen, Your Moment Has Arrived

It's the latest emerging market, according to Bloomberg.
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Bulls aren't the only ones with highly-prized samples.

Yoshi, an Old English Sheep Dog owned by Jere Marder, was cheerful and friendly and so fluffy that when he was groomed, you couldn't see his eyes. Under his registered name, Lambluv Desert Dancer, Yoshi won 64 Best in Show awards—more than any other dog in the breed's history— and took Best of Breed at the Westminster Dog Show three times, most recently in 1999. That was a long time ago, especially in dog years, and Yoshi died in 2006. But Marder still breeds him. "I have about 100 straws!" she says—referring to Yoshi's frozen semen samples that she will use to breed additional children. Marder owns Lambluv Old English Sheepdogs, which is based in Indiana and sells show-quality puppies for prices starting at $2,500. Most of her dogs are bred the old-fashioned way; for others, Marder relies on animals long since passed. Last year, second place in Westminster's Best in Breed category went to a sheepdog who came from one of Lambluv's dog's 17-year-old sperm...

"It's definitely a market—and one that's growing," says Randall Popkin, owner of the California-based Breeder's Veterinary Services. Popkin, whose company provides ambulatory care at dog shows along the West Coast, has been storing frozen semen and inseminating dogs with it since 1984. He estimates that he has stored samples from 1500 dogs over the years; the oldest sample that successfully produced puppies was 27 years old. "When I first started, few breeders were doing this. Nowadays, you travel to dog shows and there'll be three companies there offering to freeze your dog's semen."

Show-Winning Dog Semen Is a Bargain at $2,000 [Bloomberg]


If You Think You Were Unfairly Fired From Your Banking Job And Work In The UK, You've Got Two Options

1. Get over it. 2. Get over it. UK judges couldn't give less of a fuck. Fired bankers suing for unfair dismissal and unpaid bonuses have found little success at London’s specialty employment courts as continuing anger over the financial crisis has left judges unsympathetic. The adverse decisions from the U.K. Employment Tribunal come after London bankers had a run of legal successes with courts ruling they were entitled to large bonuses written into contracts before the economic downturn. The latest round of cases have largely been based instead on wrongful termination, where the banks have been able to make stronger arguments. A former JPMorgan Chase banker, fired for mispricing aluminum trades, discovered the new reality the hard way Oct. 17, when a London judge threw out his suit for not properly explaining how “a large number of errors” he made benefited his trading book by about $400,000. Other claims tossed this year involved securities manipulation and threats from colleagues. “In the current climate there is little sympathy for bankers,” said Andreas White, an employment lawyer at Kingsley Napley LLP in London. “Banking is the only industry where claimant employees are even less popular” than their bosses. Fired Bankers’ Lawsuits Fail as Judges Tire of Bonus Claims [Bloomberg]

Who Wants To Invest In Phil Falcone's New Company?

Harbinger Global Corp is coming to an exchange near you. Phil Falcone, the embattled billionaire hedge fund manager, has put together an unorthodox IPO that will see his hedge fund firm contribute assets valued at $350 million to a blank check company that will trade publicly. In the deal, a special purpose acquisition company that is expected to trade on Nasdaq and be known as Harbinger Global Corp., will acquire a majority interest in an MGM-branded hotel and casino development in Vietnam and a minority interest in an iron ore producer working in Brazil. Funds run by Falcone’s Harbinger Capital Management that are contributing the assets will get an ownership stake that could be as high as 96% in Harbinger Global and Falcone is slated to become executive chairman of the company. Falcone’s move to become closely involved in a publicly-traded company is audacious given that he is currently facing securities fraud charges from the Securities & Exchange Commission. Yeah, well, people also thought it was audacious for him to invite a burlesque dancing pig he barely knew to come and live with him and she turned out to be the best thing that ever happened to him, so.