But DeepNines has found a way to fund its burgeoning legal bills.
It's rare, but sometimes a good manager at an expensive load fund can be found making a little extra money on the side by also running a cheaper, comparable no-load fund.
Merrill Lynch, another American investment bank, found in a recent survey of European fund managers that only 10% thought that countries mattered for their investment decisions, but 76% said it was crucial to be in the right sector.
Investment banks' conflict of interest helps explain why a recent survey of fund managers, by Tempest, a consultancy, found that many managers increasingly resort to their own, in-house research, despite its extra cost.
In April, a Leukaemia Research Fund study found that children introduced to nursery before the age of one were found to be at lower risk of leukaemia.
In 1992, the year First Reserve launched its first buyout fund, Macaulay found himself in a Texas courtroom over one of his investments.
Most were part of a backlash after a number of fund firms were found to have permitted large investors to do rapid-fire trading, often contrary to the funds' own rules, or illegally after hours at the expense of small investors.
Chase Coleman is a Tiger Cub who went on to found hedge fund Tiger Global Management.
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In 2009, a federal jury in Brooklyn found Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin not guilty on six counts of conspiracy and fraud.
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Research by Richard Hamblin and others at the King's Fund, a medical charity, has found that, despite the lengthening queue, the average wait has remained at 13-14 weeks since the 1960s.
The report - part of the King's Fund quarterly update on NHS performance - also found a growing number of finance directors were concerned about budgets.
Theo Pauline Nestor, a 46-year-old writer, teacher and mother of two from Seattle, Washington, found out her husband was surreptitiously using credit cards to fund a gambling habit that she said eventually cost the couple their marriage.
Green, 55, has managed money using this strategy since 1980, after he left a career at Kidder, Peabody and then Goldman Sachs to found fund-sponsor Westchester Capital in Valhalla, N.
In a study of the impact of war on stock markets in frontier countries, Caravan Capital Management, a fund that invests in frontier markets for wealthy individuals, found that many conflict countries experience intense post-war rallies.
FORBES: Is There Ever A Good Time To Invest In War Torn Countries? Study Finds Out
When Obama came to Greenwich in mid-September to stump for U.S. Senate candidate Richard Blumenthal I found only one hedge fund related person who was willing to shell out a dime for the expensive pleasure of sitting near him at dinner or hearing him speak for 20 minutes.
FORBES: Lots of Hedge Funds still Donating to Obama? Doubt it
We found that the fund LMVTX allocates 70% of its value to stocks with a Neutral Rating or worse.
William Murray, a spokesman for the IMF in Washington, said the fund had found no evidence to substantiate that claim, from Doyle or any other sources.
Encouragingly, for those of a contrarian bent, the latest Merrill Lynch survey of global fund managers found that most investors are underweight in emerging-market shares at the moment.
In my years of experience marketing brokerage services, virtually the only time I have found a single broker-dealer as a commission recapture or soft dollar broker for a fund is what it is an affiliated broker-dealer of the consultant of the fund.
"I was really shocked when I found out, " says Erik Palstra, a recently arrived representative of the United Nations Population Fund.
Perhaps more importantly, borrowing that much on wholesale markets is neither a stable or prudent way to fund any bank - as the UK taxpayers found out to their cost when Northern Rock, Royal Bank of Scotland and HBOS all went to the brink of collapse after their access to wholesale funds dried up in 2007-8.
No longer just designing technical gear for his pals, and hoping to fund his own climbing expeditions, by the mid-1980s Chouinard found himself helming a red-hot, rapidly expanding, internationally known fashion brand.
WSJ: Patagonia's Founder is America's Most Unlikely Business Guru
Winifred Jiau (43), formerly a consultant to Primary Global Research, was found guilty today of passing along confidential information to hedge fund managers in exchange for payments.
FORBES: Winifred Jiau -- A Blow To Expert Networks and The Small Players
Gap years, taken between leaving school and starting university, are also becoming a more common way of earning money to help fund students through university, the survey found.
BBC: News | Education | Pupils put off university, says survey
So, we just felt that because the fund strives for capital appreciation, as well as income, we found that there was a little bit of misnomer or misunderstanding regarding a fixed dividend payment on a regular basis.
And new fund-raising improved only marginally as pension funds, foundations, endowments and other limited partners (LPs) found it difficult to commit additional capital to PE fund general partners (GPs) following years without a pickup in investments and exits.
Icahn found himself back in the news before the week was out, thanks to a televised telephonic slugfest with fellow hedge fund manager Bill Ackman Friday.
FORBES: Markets Rewind: Apple Junked, Netflix Juiced And Icahn Battles Ackman - Forbes
Michael Lipper, of Lipper Analytical Services, a fund-tracking firm, has made a small fortune from the industry's obsession with performance comparisons, but has found that time and again fund managers who were losers one year become winners the next, and vice versa.
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