This is an actual hedge fund that exists that you – some of you – are putting money into:
There are thousands of hedge funds in the world, but only one is run by a traveling priest who boasts of his ability to “crash” stocks in between baptisms, funerals and Sunday sermons in this bucolic New Hampshire town.
Three-year-old Amvona manages around $20 million, or double that including the use of leverage, or borrowed money. It charges a 25% performance fee—well above the hedge-fund norm.
Mr. Lemelson said he asks his investors, who include 14 families, to follow two rules: Pray for the fund and disregard short-term performance. He won’t discuss investment results past June.
I have no additional comments to add at this time.