Wednesday, 22 October 2014
Last updated 10 hours ago
Oct 21 2008 | 10:36am ET
Raoul Felder is not chopped liver, the famed New York divorce lawyer wants AllianceBernstein to know.
Felder has filed a $5 million lawsuit against the money manager, accusing it of misleading him into investing $750,000 in a hedge fund that subsequently lost him $200,000. According to the Duke of Divorce, he wanted a more conservative investment, but that AllianceBernstein pushed him toward the riskier hedge fund that earned it higher fees and commissions.
The firm put its “greed and self-interest” ahead of Felder’s “very simple” instructions, he said.
“It’s like the owner of a restaurant who tell his waiters to push the chopped liver,” Felder told the New York Daily News.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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