The Hedge Fund Report: Graduating From Harvard

The fun part was to walk among the crowd, glass of Champagne in hand, pen in the other, and check the sports and show business memorabilia and goodies on display for the silent auction.

A Pele signed jersey was offered at an initial price of $1,500. A ticket for the 2007 Grammy Awards had a $10,000 price tag. A Johnny-Damon-signed Yankees jersey traded at an initial bid of $1,500 (sorry, Red Sox fans). And Sylvester Stallone's signed red gloves were a bargain at an initial $1,200 price.

Hedge fund biggies from Amaranth, Moore Capital Management and SAC Capital Advisors were spotted here and there, near the bar.

Established in 1998, the Hedge Fund Care raised over $15 million to support grants and programs fighting child abuse and neglect. Its executive director, Rob Davis, is a former Banc of America's prime broker.