Sunday, April 1, 2007

Sports-betting fund 'Fezzdaq' packs it in after successful run


Or, how a pro bettor and his sidekick proved Mark Cuban's idea for a "gambling hedge fund" could work, at least on a small scale, by using footwork and hammering soft numbers in Nevada sports books.

It was surely the most successful financial portfolio never to grace the covers of those glossy money magazines hyping "the year's hottest funds."

It achieved a phenomenal rate of growth, awarding its admittedly select clientele a return of 10 times the original investment in a year.

It ended without fanfare early this year, officially dissolved during a meeting "at a tawdry nondescript restaurant" on West Sahara Avenue in Las Vegas, according to its de facto junior partner.