How Many Yachts Can John Devaney Water-Ski Behind?

The seas have turned decidedly choppy this summer for United Capital CEO John Devaney.

TheStreet.com has learned that the hedge fund manager has put one of his most prized possessions -- a 142-foot Trinity yacht dubbed Positive Carry -- up for sale, along with his $16.5 million second-home in Aspen, Colo. The house, called Sardy House, is the site of the nation's largest living Christmas tree.

A call to Devaney was not returned and officials at his Key Biscayne, Fla.-based hedge fund declined to comment. But according to Web site YachtCouncil.com, Devaney is asking $23.5 million for Positive Carry, which boasts a 42-inch retractable plasma screen with theater sound, a sun deck, an eight-person jacuzzi and barbecue area. ...