Sunday, November 4, 2012

Grim News: Hurricane Sandy causes massive damage to hedge fund trader



Hedge fund trader Nick Gentile is starting to dread this time of year.  “October is a bad month for me,” the Staten Islander told The NY Post yesterday while taking a break from cleaning up debris outside his two-story Oakwood Beach house....

Hurricane Sandy pushed the nearby Raritan Bay into his home, flooding his basement with seven feet of water, ruining furniture and appliances and turning his life upside down. Again.

This week Hurricane Sandy destroyed his home, but he says last year was even worse—MF Global, headed by Jon Corzine, went bankrupt, causing his brokerage much pain.  The area is without power, the street is covered with sand and a huge pile of debris — furniture, household goods, tree limbs and even an errant street sign — sits beside his house.  “It looks like a bomb exploded, it’s so bad,” he said of his neighborhood….

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