Slashdot links to a report in the New York Times about a project to combine genetic material from lawyering and fund management and create the highest hourly fee known to man.
Richard W. Fields says he has come up with a win-win financial strategy for the downturn. He is investing in lawsuits.
Not in trip-and-fall cases, mind you, but in disputes that are far larger, more costly and potentially more lucrative, often pitting major corporations against each other.
Mr. Fields is chief executive of Juridica Capital Management. which runs a fund that invests in one side of a lawsuit in exchange for a share of any winnings.
It’s like Alien vs Predator: “Whoever wins, we lose.”
Why put your money on only one side of the suit? Turn this idea into a lawsuit version of merger arbitrage and you’re really onto something.