Former Goldman Sachs star stumbles

It was big news when Steven Mandis, a protégé of former Treasury Secretary Robert Rubin, left Goldman Sachs for Halcyon in 2004. He was a rising star in the hedge-fund industry and in New York society. Two funds he managed were down about 20 percent as of July, and investors were none too pleased. Some were already pulling funds. The New York Post reports that there were lots of rumors that Mandis was about to be ousted anyway. The stumble comes at a bad time for Halcyon, which had planned to go public via a reverse merger with AAMAC. That deal is now off.

For more:
- here's the New York Post article