Hedge Fund Manager’s Detroit Goats Sent Packing

Jun 13 2014 | 10:05am ET

Mark Spitznagel’s goats have gone to the slaughter.

The Universa Investments founder last week brought 18 baby goats to graze on vacant, publicly-owned lots in one of Detroit’s hardest-hit neighborhoods. The adorable lawnmowers were there both to combat blight and promote urban farming—and were to be sold to butchers after the summer, with the proceeds going to benefit the Brightmoor neighborhood.

The only problem was that Spitznagel’s Idyll Farms Detroit project hadn’t gotten permission from the city, which quickly ordered the goats off of public land.

Spitznagel appealed the decision, but couldn’t convince Detroit to let the goats stay. The animals were then sold to butchers.

The hedge fund chief appears undeterred, promising to go through official channels to bring the goats back.

“The Brightmoor community believes in urban agriculture as a viable solution and they have the entrepreneurial energy that will survive ineffective bureaucratic rules,” he said.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...