A New Sports Jinx Hits Hedge Fund Team Owners

Forbes calls sit the Henry Curse: In 2002 John Henry, one of America’s most successful hedge fund managers, bought the principal stake in the the Boston Red Sox. Two years later the baseball team broke the “Curse of the Bambino,” winning the World Series for the first time in 86 years. The Red Sox won another World Series under Henry’s ownership in 2007 and later Henry purchased a majority stake in the Liverpool Football Club.

But while Henry collected sports trophies, a process that started in 1999 when he bought the Florida Marlins, his money management firm tanked. Henry founded John W. Henry & Co. in the early 1980s, a hugely successful commodities trading firm. But as his interest in the sports business grew, his role at his money management firm diminished and its investment returns in recent years plummeted. His investment firm’s assets shrunk from $2.5 billion to less than $100 million and by the end of last year it stopped managing money for outside clients….

Find out more at http://www.forbes.com/sites/nathanvardi/2013/04/08/the-henry-curse-a-new-sports-jinx-hits-hedge-fund-team-owners/