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Why investors should have doubted Relativity Media's charming wunderkind

Why investors should have doubted Relativity Media's charming wunderkind

Hollywood moguls and Wall Street hedge fund operators have a few things in common. They live and work among smart, sophisticated people, while billions of dollars flow through their fingers. They also seem equally susceptible to a glittery line of chatter. Some might say that's the best explanation for the phenomenon of Ryan Kavanaugh and his entertainment company, Relativity Media. After years illuminating the Hollywood firmament, first as a conduit for hedge fund money seeking to invest in movies, then as a "mini-major" studio turning out pictures on its own, Relativity filed for bankruptcy July 30. What looks to be Relativity's ultimate crash gives us an...

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