Saturday, August 06, 2005
New Hedge Fund
Greenwich, CT--About once a year the Wall Street Journal does a small experiment. Who's better at picking stocks, highly paid managers, analysts or a monkey with a few darts? Well, "Coco", shown here, has won four out of the last five years. With his notes and performance records he left the Bronx Zoo and moved to Greenwich to start his new,"Monkey Fund". The fees are some of the lowest of any hedge fund, a very small percentage of the profits and a few pounds of bananas. "Coco loves to read all the business magazines; Business Week, Forbes, Fortune, Wall Street Journal, Investors Business Daily and Financial Times. He also likes to watch Kudlow and Cramer." says, Cindy Parke, a handler from the Bronx Zoo. She has taken care of Coco and the other monkeys for over five years. "Sometimes he gets a little moody or cranky after he watches 'jim cramer's mad money'. I'm not sure why, but he just does". In three short months, Coco's Monkey Fund has attracted over $500 million from investors. Dave Mercado, a new investor, says "I let him use a few million. His fees are really low. And Coco couldn't be any worse than my last guy."
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