Haha. Gene Ross strikes again -
********.com
Crocodile writes on xxxporntalk:
Francis Koenig, manager of hedge fund AdultVest, tells The Atlantic Monthly his hedge fund returned 50% last year by investing in porn-related assets, both public and private. The story fits with the common perception that sin and sex sell in any environment.
We asked Koenig what, exactly, he's been investing in that's bucked the trend, but he was unwilling to go into much detail. He noted AdultVest bought some porn domain names, which have been appraised at higher values, but which haven't been sold. He also mentioned AdultVest's stake in iPorn -- a startup doing porn for the iPhone. But iPorn hasn't launched yet so any value is going to be difficult to determine.
Coke Stevenson writes on XPT:If it looks too good to be true, it probably is. Frances Koenig doesn't know anything that his competitors don't know. In fact he knows a lot less. If this is a Ponzi scheme or something shady, he was incredibly stupid to claim a 50% gain. As if no one would notice. We should hear after people try to withdraw funds.
Money laundering is a possibility. More likely Koenig started losing money but wanted to keep the lifestyle/successful image going, so he started lying on paper and doing the ponzi thing with new investors. If this is where all the successful porn scumbags have put their money, it could devastate the industry.
********.com
Crocodile writes on xxxporntalk:
Francis Koenig, manager of hedge fund AdultVest, tells The Atlantic Monthly his hedge fund returned 50% last year by investing in porn-related assets, both public and private. The story fits with the common perception that sin and sex sell in any environment.
We asked Koenig what, exactly, he's been investing in that's bucked the trend, but he was unwilling to go into much detail. He noted AdultVest bought some porn domain names, which have been appraised at higher values, but which haven't been sold. He also mentioned AdultVest's stake in iPorn -- a startup doing porn for the iPhone. But iPorn hasn't launched yet so any value is going to be difficult to determine.
Coke Stevenson writes on XPT:If it looks too good to be true, it probably is. Frances Koenig doesn't know anything that his competitors don't know. In fact he knows a lot less. If this is a Ponzi scheme or something shady, he was incredibly stupid to claim a 50% gain. As if no one would notice. We should hear after people try to withdraw funds.
Money laundering is a possibility. More likely Koenig started losing money but wanted to keep the lifestyle/successful image going, so he started lying on paper and doing the ponzi thing with new investors. If this is where all the successful porn scumbags have put their money, it could devastate the industry.
Comment