Eric Mindich—famous for becoming the youngest-ever Goldman partner at 29—is shuttering his Eton Park Capital Management hedge fund and returning the $7 billion it manages to investors. Viewed along with Pershing Square’s recent $4 billion hit on Valeant and John Paulson’s struggles of late, the move hints at the major headwinds facing the $3 trillion hedge fund industry – NYTimes and WSJ and Bloomberg

Though, to be fair, not everyone’s struggling – Bloomberg

The Journal highlights an issue that many of us in the TCPA defense bar know only too well: unwanted faxes can be big money – WSJ

Bob Iger’s agreed to another year (to 2019) at the helm of the Mouse – NYTimes

MF Global and PwC have settled a $2 billion professional malpractice claim by the financial services firm against its auditor after several weeks of trial – Law360

Theranos is pulling out all the stops (including founder Elizabeth Holmes’ personal stake in the company) in an attempt to prevent investors from suing Theranos or Holmes, but the embattled blood-testing outfit’s still in a world of hurt – WSJ

SEC nominee Jay Clayton has plans to spur a largely stagnant U.S. IPO scene. His short answer: deregulation – WSJ and Law360

One of the things to prize about New York is the way a city of more than 8 million can somehow maintain secret spaces.  Such a place is Philip Johnson’s Rockefeller Guest House, an immaculately preserved Johnson gem tucked away on a “quiet block in the East 50s in Manhattan” – NYTimes

Have a great weekend.