Posted on Apr 6, 2023
Trump pal Scaramucci's hedge fund scrambles as investors clamor to get their money out
254
8
1
5
5
0
Former Donald Trump adviser Anthony Scaramucci, who spent a brief but memorable 11 days working in the Trump White House as a communications director before being unceremoniously booted, is now under the gun as investors fear for the future of his hedge fund.
According to a report from Bloomberg, SkyBridge Capital is tied to the failed crypto company FTX. That link has investors on edge and ready to bail.
As Bloomberg's Katherine Burton and Francesca Maglione wrote, "Scaramucci may be in a corner from which even a cockroach couldn’t escape. The reputational hit from his alliance with [FTX's Sam] Bankman-Fried, who denies any criminal wrongdoing, was just the latest problem for SkyBridge after a big bet on crypto that began three years ago. Clients are rebelling, assets are dwindling, and most employees are gone."
So far, Scaramucci has been able to stave off his hedge fund's collapse by limiting how much investors can withdraw, but one investment analyst said his stalling tactics are alarming.
According to a report from Bloomberg, SkyBridge Capital is tied to the failed crypto company FTX. That link has investors on edge and ready to bail.
As Bloomberg's Katherine Burton and Francesca Maglione wrote, "Scaramucci may be in a corner from which even a cockroach couldn’t escape. The reputational hit from his alliance with [FTX's Sam] Bankman-Fried, who denies any criminal wrongdoing, was just the latest problem for SkyBridge after a big bet on crypto that began three years ago. Clients are rebelling, assets are dwindling, and most employees are gone."
So far, Scaramucci has been able to stave off his hedge fund's collapse by limiting how much investors can withdraw, but one investment analyst said his stalling tactics are alarming.
Trump pal Scaramucci's hedge fund scrambles as investors clamor to get their money out
Posted from rawstory.comPosted in these groups: 
Investing
Donald Trump
Investing Donald Trump
Posted 1 y ago
Responses: 1
2
2
0
PO1 William "Chip" Nagel
..."According to a report from Bloomberg, SkyBridge Capital is tied to the failed crypto company FTX. That link has investors on edge and ready to bail.
As Bloomberg's Katherine Burton and Francesca Maglione wrote, "Scaramucci may be in a corner from which even a cockroach couldn’t escape. The reputational hit from his alliance with [FTX's Sam] Bankman-Fried, who denies any criminal wrongdoing, was just the latest problem for SkyBridge after a big bet on crypto that began three years ago. Clients are rebelling, assets are dwindling, and most employees are gone."
So far, Scaramucci has been able to stave off his hedge fund's collapse by limiting how much investors can withdraw, but one investment analyst said his stalling tactics are alarming.
"Managers have a responsibility to protect investors from losses when markets seize up, but managers also have a responsibility to provide liquidity to investors who request it. If enough people want to leave, you should shut the fund and return the assets as they are sold off.” Michael Rosen, chief investment officer at Angeles Investments, explained."...
..."According to a report from Bloomberg, SkyBridge Capital is tied to the failed crypto company FTX. That link has investors on edge and ready to bail.
As Bloomberg's Katherine Burton and Francesca Maglione wrote, "Scaramucci may be in a corner from which even a cockroach couldn’t escape. The reputational hit from his alliance with [FTX's Sam] Bankman-Fried, who denies any criminal wrongdoing, was just the latest problem for SkyBridge after a big bet on crypto that began three years ago. Clients are rebelling, assets are dwindling, and most employees are gone."
So far, Scaramucci has been able to stave off his hedge fund's collapse by limiting how much investors can withdraw, but one investment analyst said his stalling tactics are alarming.
"Managers have a responsibility to protect investors from losses when markets seize up, but managers also have a responsibility to provide liquidity to investors who request it. If enough people want to leave, you should shut the fund and return the assets as they are sold off.” Michael Rosen, chief investment officer at Angeles Investments, explained."...
(2)
(0)
Read This Next
Continue with Facebook 
Continue with Google