Monday, August 27, 2007

Hub fund chief tells investors of $400m loss

Superstar hedge manager blames market turmoil


James Pallotta, Boston's highest-paid hedge fund manager and a part owner of the Boston Celtics, told investors in his $8.5 billion Raptor fund Friday that some of the investments in the fund were "simply crushed" by the market turmoil of the past month.


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