Matt Levine, Columnist

Hedge Fund Still Wants Its Tax-Avoidance Profits

Sometimes it might be wiser to just keep quiet about a plan to double your money.

June 23, 2016 at 6:00 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Here's a passage from a lawsuit:

Here's a link to the lawsuit, but don't click it yet.1466696648882 First, I want you to guess: What kind of lawsuit is it? Raj Patel and Angel Barenys of MLI came to Andrew Devonald and Grant Williams of Lycalopex with good news and bad news. The bad news was that MLI couldn't guarantee Lycalopex a one-year profit of $20 million, or 100 percent of its original investment (of $20 million). The good news was that MLI could guarantee Lycalopex a $15 million profit, or 75 percent. So: Who are these people, and what were they up to?