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Bad Boy of Hedge Funds

Forbes – Polygon’s Reade Griffith is a poster child for what’s wrong with the hedge fund industry these days.

A year ago, Griffith, heading into a disastrous year where he wound up losing 48%, gated investors, barring them from yanking out their money. Now he is getting the word out that he is trying to raise money for two new hedge funds, a Convertible Opportunity Fund and the European Equity Opportunity Fund. The funds, Griffith said in a recent letter to investors, have been launched with partner and employee capital.

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