A New leaf: why a Hedge Fund Manager Bought a Bank

A New leaf: why a Hedge Fund Manager Bought a Bank (Risk.net)
Andy Redleaf founded a $6 billion hedge fund. Now he runs a small community bank. In many ways, Andy Redleaf was a quintessential hedge fund manager. A Yale University maths graduate, he traded options at Gruntal & Co – alongside investing legend-to-be Steven Cohen – and in the Chicago options-trading pits before co-founding Deephaven Capital Management in 1994 and then Whitebox Advisors in 2000. At Whitebox, he predicted the subprime crisis and subsequent economic recovery. Then, he started to go off-script.

 

Is he hedging himself for a bailout when things go dreadfully wrong?

 

my x boss bought a bank to meet margin calls like when Niederhoffer went bust cause he couldn't.

 

This is not a too big to fail scenario...

 

maybe. we shall see. The remark was made mainly in jest.

 

actually it makes sense for funds to own banks because many diversify assets made from trading into private equity ventures.

 

Okay.