Discussion in 'Wall St. News' started by blackhorseshoe, Aug 8, 2008.
he's leaving insana capitals to join sac capital.
now i know we are in a secular bear mkt.
SAC was one of 13 funds that his Insana Capital ( a fund of funds ) invested in.
Probably not that big of a deal that he joined them. He's probably working more as an introducing "broker/marketer" than portfolio manager.
I mean, it's really hard to fathom just what kind of VALUE-ADDED guidance that Insana is able to give based on his "macro-economic outlook".
His Legends Fund was collecting a 1.5% annual fee + another 2.5% placement fee for the initial investment, requiring a 24 month lockup!
My guess is that big time investors chose to go right to the actual money manager, be it SAC, Renaissance, Perry Corp, Third Point Capital, Omega Advisors, Icahn Management, etc. - - - and avoid the expensive fees collected by Mr. Insana "Middle-Man".
But given that Insana's fund had a mere minimum of $500,000, you probably couldn't get Stevie Cohen on the phone for that amount of chump change.
Hence, Insana gave the "little" guy access to a diversified group of hedge fund returns that he otherwise would not normally have access to.
This isnt true. Why are you posting this false info?
Separate names with a comma.