As comebacks go, it's one of the more ambitious, according to Reuters.. Fred Eckert - the hedge fund manager who lost
$250 million of his own money, saw his firm go bankrupt in the credit crisis,
went through a divorce and spent two months in a coma - is back with the launch
of his new firm.
The 65-year-old former Goldman exec, who once lived in one
of the most expensive houses in New
Jersey , has launched a new firm called Phoenix Star
Capital. Eckert believes he has spotted
an opportunity in complex debt securities, based on loans which banks are
having to sell to boost their capital positions under the Basel III
regulations. He has already an initial
$100 million from investors to pursue the strategy….
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