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Money managers under the microscope

In Stamford, the Diamondback Special is still on the menu

December 3, 2010

The hedge fund community is still shaken up over the FBI raids in Stamford, New York and Boston last week — but now that the excitement has died down, and hedge funds Level Global Investors and Diamondback Capital Mangement have said they are not “targets” of the investigation, will life ever be the same?

Some say the hedge funds have a long road ahead of them as they will have to fight against the reputation damage from the raids as they try to return to business as usual. But it appears they will have the support of their friends nearby:

In Stamford, Connecticut this week, near the One Landmark Square headquarters of Diamondback building workers remembered the raids vividly, but said things are back to normal now.

At Zayna’s Metro Cafe, a New York-style deli that opened earlier this year next to the tower, Chef Aly Allam says he hopes things go back to normal for Diamondback, where the traders are such regular customers he often puts a Diamondback Special on the menu.

“They are some of my biggest customers, if they close that’s almost half my business,” the chef told Reuters, saying that maybe 20 Diamondback traders a day frequent his cafe’s busy lunch hour.

So what should the Diamondback Special be next week? A grilled panini?  A black & white cookie?

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