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Posted By: JimCrandell

Chad,

As you undoubtedly know all hedge funds aren't hedged--you can be 100% long and unhedged.

On illiquidity, you could put the cards in a Robert Edward auction or one of the Evil Empire's.

As to where they can can get the cards--buy them at auction, from dealers and solicit collectors.

Lastly, if it is a diversified fund you don't necessarily need $30-$40mm.

Jim