Chanos Sticks By Obama

Oct 3 2011 | 12:13pm ET

Many, if not most, of the hedge fund managers who helped bankroll President Barack Obama's run for the nation's highest office three years ago have abandoned him—or worse, switched sides. Kynikos Associates' James Chanos isn't one of them.

Chanos was among the 116 attendees at a $10,000 a plate fundraiser for the president and the Democratic National Committee on Friday, The New York Times reports. The event raised more than $1.5 million—but fell about 14 people short of really selling out.

The event, at the Four Seasons restaurant in New York, was hosted by Berkshire Hathaway's Warren Buffett, who has also not given up on the president, despite the fact that much of Wall Street has. Indeed, his help went beyond merely hosting the dinner: Those attendees who wanted some face time with Buffett had to pony up $35,800.

Many of Obama's hedge fund and finance industry backers are unhappy with his handling of financial regulation reform and his calls for higher taxes on them. One of those calls for higher taxes, on the wealthiest, was in part inspired by Buffett, who said people like himself should pay much more.

"I have always had people disagree with me on politics," Buffett told the Times.

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel's Griffin Reaches Settlement in Contentious Divorce

Oct 8 2015 | 10:14pm ET

Billionaire hedge fund manager Ken Griffin and his wife have settled a long-running...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note