Hedge Fund Fight Night
Hedge Fund Fight Night | Charity Fundraiser
(http://HedgeFundBlogger.com) I had to read this headline twice before I believed it:
At 5-foot-4 and 48 years, Nissim ``The Miracle'' Tse is the shortest and oldest of 34 boxers signed up for this year's Hong Kong Hedge Fund Fight Nite.
Calling himself ``a financial warrior,'' Tse likens boxing to his daytime job as a co-founder and head of trading for Hong Kong-based Pi Investment Management Ltd., a unit of London hedge fund manager RAB Capital Plc.
``It's mental, it's physical, it's crazy, it's stressful,'' Tse said in an interview. ``But it all happens very quickly, just like you are managing a hedge fund.''
The annual charity fight tonight, in its second year, takes place amid the most severe financial crisis since the 1930s and with the hedge fund industry bracing for its biggest annual loss since Hedge Fund Research Inc. started to keep data in 1990. The fight night aims to raise HK$1 million ($129,000) to repair children's facial deformities and combat crime and juvenile delinquency in low-income and immigrant communities. The event beat the same target last year.
The world's largest banks and securities firms have been saddled with more than $670 billion of losses and writedowns, with the crisis costing more than 149,000 financial industry jobs globally, according to data compiled by Bloomberg.
``This is the worst bear market I hope I will see in a lifetime,'' added Tse, a 20-year hedge fund veteran who practices karate and plays golf and tennis.
All the more reason for a diversion, according to the fighters.
Graham ``The Real Deal'' McNeill, a 35-year-old partner at EC Harris LLP, said ``therapeutic'' lunchtime sessions were a release. ``You completely forget about the rigors of the morning and focus on not getting your head knocked off,'' he said. Read more...