Hedge Funds - The New Dot Com?posted by MR WAVETHEORY at 9/28/2006 08:56:00 PM
Each of these hedge fund managers paid $3900 so they could pitch potential investors on board an Eos Flight (luxury airline). EOS is a super luxury airline - there are only 48 seats on a plane that can seat 200 passengers.
As Eos Airlines Flight 2 lurched amid heavy turbulence on Saturday night, hedge-fund manager Kurt Hovan tried to stay on course, making his pitch to a prospective investor.The last time I heard about this was when dot com CEOs would walk your dog to pitch you their latest dot-com idea.
The 25-minute sales job by Mr. Hovan, manager of a $21 million health-care fund, fell flat. The investor didn't bite -- he said the fund was too tiny and its investment team too green.
Mr. Hovan was one of a handful of small-fry hedge-fund managers whose hopes took off with the Eos flight. Each paid $3,900 for a round-trip seat on the New York-London trip. The draw: to mingle with captive big-time investors and make sales pitches over champagne and canapes. Investors rode free of charge.