A former fund company president is betting that investors will embrace the ability to predetermine the return on an investment and achieving that return via an online auction site that would pit anonymous investor/bidders against each other with the highest bidder being victorious.

That's the thinking behind an innovative financial services business methodology that the U.S. Patent and Trademark Office granted on Nov. 14 to Gene Podsiadlo, a partner with Financial Foundry, a private product development company in Princeton, N.J. Podsiadlo is the former president and managing director of the New York-based Warburg Pincus Funds, which was acquired by Credit Suisse Asset Management, also of New York, in 1999.

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