Anthony Scaramucci (aka the Mooch) is upset. Earlier this year, having bravely hitched his wagon to Donald Trump as a member of his campaign's economic advisory group in 2016, he was convinced that he was about to be offered a plum job. Assistant to the president perhaps. So he arranged to sell his hedge fund business, Skybridge, to HNA, a Chinese conglomerate, for $275m and waited for his phone call. It didn't come.
Now he is unemployed. He isn't exactly under a financial imperative to panic. But it probably doesn't feel good either. On the plus side, he may have got out in the nick of time. His funds haven't performed particularly well over the last few years, says Vanity Fair. And, if you turn to our markets page, you will see that the signs are not good for the US market as a whole. Other hedge-fund managers have been selling out and closing down without needing Trump as a prompt and that could be a hint that the rest of us should do the same.
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