Six Famous Hedge Fund Managers play in Secret Atlantic City Poker Tourney
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There's always something intriguing about a private high stakes poker game - especially when it involves six of the most powerful hedge fund managers in the world.
David Einhorn (Greenlight Capital), Bill Perkins (Skylar Capital), Steve Kuhn (Pine River Investments), Mario Gabelli (Gabelli Asset Management), John Rogers (Ariel Investments) and Jim Chanos (Kynikos Associates) all played in a secret poker tournament that was dubbed "Poker Night on Wall Street."
This $50,000 buy-in tourney was held in the name of charity and filmed at Atlantic City's Borgata by Bloomberg TV. The event isn't available for public viewing yet, but will be in the near future.
Anybody who follows poker may have heard of some of the hedge fund managers who participated. Bill Perkins is fresh off finishing third in the 2013 WSOP $111,111 buy-in One Drop event, which earned him $1,965,193.
Einhorn has an even more impressive poker resume since he finished 18th in the 2006 WSOP Main Event ($659,730) and third in the 2012 WSOP $1 million buy-in Big One for One Drop ($4,352,000). The Wall Street ace has found time to earn $5,108,135 in overall live tournament winnings; this ranks him 91st all-time among poker players.
As for the other four players, none of these investment gurus have much experience on the felt. But if they keep hanging out with Einhorn and Perkins, they're bound to develop a knack for the game at some point. Both Einhorn and Perkins have competed against some of the world's best rounders in tournaments and cash games. And now it looks as if they're trying to get more financial kingpins in on poker too.