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Sunday, September 22, 2019

Among the Bric-a-Brac, Cars and Junk, A Hedge Fund


Date: Thursday, February 15, 2007
Author: Dailyii.com

Folks turn to eBay to see if they can acquire just about anything, and now the online auction site even has a hedge fund. Among the millions of items, from automobiles to zebra pajamas and everything in between, a hedge fund is up for grabs. The listing, #120085952931, doesn’t reveal much, other than the fact that the seller, identified only as HdgFund (who apparently has gotten rave reviews from people he’s won items from), is an eBay member in Italy. The offering itself, making its debut on eBay in a seven-day listing beginning Feb. 11, is described simply as "Fully authorized and operative Hedge fund is for sale (without assets). The fund can invest in any kind of asset instrument and private companies." Then the ad indicates that it is "BVI-based (fund+investment manager+auditor); and Europe based (administrator+depositary bank+ prime broker)." The item, located in Lugano, Switzerland, has a starting bid of $70,000. As of Valentine’s day, the lonely HF has yet to capture the heart or the imagination of even one bidder. One might wonder why a person would is selling a hedge fund –on eBay no less -- and what exactly does one get for winning? Still waiting to hear from the seller.