Hedge Funds

Battle over a literal hedge

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Few spats between hedge funds and investment banks involve land-moving equipment, but that's the case in an argument that pits Kynikos Associates' Jim Chanos against his East Hampton neighbor Marc Spilker, head of Goldman Sachs' alternative investments unit. In a dispute over how wide Spilker could make a beach-bound pathway that separates their properties, Spilker brought in a bulldozer to eliminate some of Chanos' six-foot-high hedges that border the walk. Chanos, who has $3 billion in funds stored at Goldman, called the cops. It's unclear if they've yet reached a compromise.