Comments on: Lunch with Warren — that’s one way to spend your mgmt fees http://www.wellingtonfund.com/blog/2009/07/08/lunch-with-warren-thats-one-way-to-spend-your-mgmt-fees/ News, Views & Purviews Fri, 03 Feb 2012 02:44:40 +0000 http://wordpress.org/?v= hourly 1 By: Sean Vrbica http://www.wellingtonfund.com/blog/2009/07/08/lunch-with-warren-thats-one-way-to-spend-your-mgmt-fees/comment-page-1/#comment-1729 Sean Vrbica Thu, 09 Jul 2009 20:40:12 +0000 http://www.wellingtonfund.com/blog/?p=2473#comment-1729 That’s not the worst of it…the FP reported that at its peak, Salida managed about $1.2-billion in client assets, but now only manages about $300-million, with more than half the decline coming from the collapse of Lehman Brothers last fall, with which Salida was heavily invested…Apparently, it’s ok to make bad investment decisions, lose clients money and then blow $1.68 million on a lunch to gain “valuable information” (who knew?).

Hopefully Buffett can teach them something called ethics…

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