![]() 8 dinner, asking the funds not to destroy any trading records involving market bets on the euro, said people familiar with the situation. Department of Justice’s antitrust division has sent letters to a number of hedge funds that attended the Feb. The dinner adds to the growing perception among the general public and some political leaders that many hedge funds prosper by making money off misery - whether it is betting on the decline of a stock, a bond, a currency or even a country’s debt. 25 article, a shadow has been cast over much of the $1.5 trillion hedge fund industry. ![]() The portion of the program, at the Park Avenue Townhouse restaurant on Manhattan’s Upper East Side, devoted to trading the euro took up no more than five minutes, according to people familiar with the event.īut ever since the Wall Street Journal wrote about the dinner and the discussion about the euro in a Feb. ![]() 8 dinner is sparking controversy because one of the nearly two dozen topics discussed during the program was how hedge funds could profit from a decline in the euro, one of the world’s most heavily traded currencies. They provide a chance for managers to swap trading ideas, network with their peers and meet some of Monness Crespi’s largely equity-focused analysts.Ī Feb. Monness Crespi sponsors unscripted dinners from time to time, said people familiar with the get-togethers. NEW YORK, March 3 (Reuters) - Little-known brokerage firm Monness, Crespi, Hardt & Co has long toiled in the shadows of Wall Street, but the boutique suddenly has been thrust into the limelight because of an “ideas dinner” it sponsored last month for a group of about 18 hedge fund traders. * Dinners with managers are commonplace (Adds comments from hedge fund manager Jim Chanos, Soros) * Dinner discussion on euro said to be brief * Justice Department looking into euro trades by funds
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