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Tuesday, May 29, 2012

Hedge Fund Manager Wins $710k in Vegas

Most attendees of a three-day hedge-fund conference in Las Vegas earlier this month left with a canvas tote bag, some free pens and a stack of business cards. One left with $710,000 in blackjack winnings.



Michael Geismar, who co-founded $4.6 billion managed futures firm Quantitative Investment Management, turned $300 and a $10,000 line of credit at the Bellagio into $470,000 in a six-hour stretch that began on a Tuesday night, the trade publication AR Magazine reported last week.
After a few losing sessions over the next two days, Mr. Geismar turned in another winning performance Thursday night, before the SkyBridge Alternatives conference ended. Betting on other players’ hands and his own, with bets as big as $10,000, he racked up enough to bring his jackpot to $710,000. And that’s after doling out tens of thousands of dollars in tips.

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