Shortly after his death, New York magazine
ran a fascinating story in which real hedge-funders expressed pointed bemusement over how Epstein made his money, since none of them had really had any dealings with him. As one big hedge-fund president, Doug Kass, put it:
“I went to my institutional brokers, to their trading desks and asked if they ever traded with him. I did it a few times until the date when he was arrested. Not one institutional trading desk, primary or secondary, had ever traded with Epstein’s firm.” As Kass had said to a journalist:
“There’s another guy who reminds me of Madoff that no one trades with.” Or as another hedgie remarked:
“It’s hard to make a billion dollars quietly.” And yet Epstein had made no noise at all in the financial world. They could barely find one investor. Their general theory was that the “hedge fund” was simply a cover for a blackmail scheme.
Marina Hyde @
the Guardian
I hadn't heard about that. Interesting.