Forbes – In 2002 John Henry, one of America\u2019s most successful hedge fund managers, bought the principal stake in the the Boston Red Sox. Two years later the baseball team broke the \u201cCurse of the Bambino,\u201d winning the World Series for the first time in 86 years. The Red Sox won another World Series under Henry\u2019s ownership in 2007 and later Henry purchased a majority stake in the Liverpool Football Club.<\/p>\n
But while Henry collected sports trophies, a process that started in 1999 when he bought the Florida Marlins, his money management firm tanked. Henry founded John W. Henry & Co. in the early 1980s, a hugely successful commodities trading firm. But as his interest in the sports business grew, his role at his money management firm diminished and its investment returns in recent years plummeted. His investment firm\u2019s assets shrunk from $2.5 billion to less than $100 million and by the end of last year it stopped managing money for outside clients.<\/p>\n