February 2008

  • News

    Write-Offs: 02.29.08

    $$$ Schwarzman‘s School Ties [DealBook] $$$ Vote on whether Tim Sykes has discovered the secret formula for the stock market. [TimSykes.com] $$$ Sorry Guys, Today Didn’t Happen [LoSC] $$$ The Boeing Company (BA)

    / Feb 29, 2008 at 5:56 PM
  • News

    Diary of A Fake Goldman Trader: Becoming Your Dream

    Who remembers that Craiglist ad from the 28 year old Goldman banker looking for someone to lavish with his (pretax) $722k bonus? I’m going to go with all of you because, frankly, it/he was unforgettable. The Viking stove, the custom-made oak dresser, the amazing dinners, the shopping, the great wine, the getting each other off […]

    / Feb 29, 2008 at 5:11 PM
  • DealBreaker Career Center

    Job Of The WeeK: Subprime Trader

    Your jobs sucks. That’s why we spent part of the afternoon combing through our Career Center in search of the most interesting jobs. There are dozens to choose from, all categorized according to specialization. But one special one has been selected as our Job of The Week. A multi-strategy hedge fund is seeking an experienced […]

    / Feb 29, 2008 at 5:09 PM
  • great ideas

    Please Say Norbit II, Please Say Norbit II

    Not content to sit idle while their peers at Citadel and Stark Investments lose millions of dollars by backing movies like “Evan Almighty” and “Poseidon,” Elliot Associates has gotten some of that, agreeing to provide at least $1 billion to co-finance 75% of Universal Pictures’ films over the next four years, with Relativity Capital. Relativity […]

    / Feb 29, 2008 at 3:21 PM
  • admin

    Enough About Us…

    We’d like to know a little about you. Our reader survey helps us create content that better fits what you want to read. More importantly, it helps us sell the advertisements that pay us to bring you DealBreaker content every day. Please take a few moments to fill out this survey and let us know […]

    / Feb 29, 2008 at 3:02 PM
  • News

    Proxy Battle At The New York Times

    It is, officially, on. A dissident investor stepped up pressure on The New York Times Co. Friday, formally proposing its own slate of four directors and saying the company needs to take more drastic action to compete online. Harbinger Capital, an investment firm that now owns about 19 percent of the company, filed its own […]

    / Feb 29, 2008 at 1:59 PM
  • News

    How To Turn $4.6 Million Into $1 Billion

    Politics, of course.

    / Feb 29, 2008 at 1:16 PM
  • Oil

    When The Rising Cost Of Oil Hits A Little Too Close To (Steve Cohen’s) Home

    The unadulterated euphoria you-know-who experiences while mainlining cream filled gold sponge cakes every day at 3 is about to be compromised.

    / Feb 29, 2008 at 11:27 AM
  • News

    Triple Down! UBS Sees 600 Billion Of Losses For ‘Financial Industy’

    So far, only 160 billion of losses have been disclosed. UBS sez it’s going to get a lot worse. UBS sees financial crisis leading to industry wide losses of 600 bln usd investment research warned that the financial crisis is far from over with more losses and a stronger impact on the real economy ahead. […]

    / Feb 29, 2008 at 9:37 AM
  • News

    Opening Bell: 2.29.08

    Peloton Blames Wall Street Lending Crackdown for Fund Collapse (Bloomberg) A London-based hedge fund is blaming tightening credit standards on Wall St. for its collapse. The $1.8 billion fund says that because of, you know, stuff, it just can’t get a loan anymore. And it will need to liquidate. Sounds like a market for lemons […]

    / Feb 29, 2008 at 7:13 AM
  • News

    Write-Offs: 02.28.08

    $$$ Inside Loeb/Weill/Blankfein’s new apt. [Daily Intel] $$$ Mel Karmazin’s Own Private Reality [Deal Journal] $$$ I’m currently working as an admin assistant in a law firm, but I would like to start working at a hedge fund company. I have a friend who started working at a hedge fund company, and she is making […]

    / Feb 28, 2008 at 5:23 PM
  • Eddie Lampert, Sears Holdings

    Sears Holdings Chair Sees A Lot Of Sears In Previous Perma-Loser Eli Manning

    Oh, man I love sports metaphors. Eddie Lampert do too.

    / Feb 28, 2008 at 3:46 PM
  • News

    The Pension Fund Manager Who Went One-On-One With Michael Jordan…And Won

    If you’ve ever had a few drinks with fund managers, and followed them with a few more, you know the conversation inevitably turns to performance. Usually it will begin with some fantastic trade but, depending on the crowd, it often winds up with some feat of physical prowess, death-defying daring or sexual triumph. But the […]

    / Feb 28, 2008 at 3:40 PM
  • News

    Buy Neverland Ranch, Don’t Matter If You’re Black Or White

    Many of you received shit bonuses, no bonuses, or, worst of all, UBS bonuses this year, but surely there’s someone out there who can cough up the cash to buy Michael Jackson’s Neverland Ranch, yes? Yes! Say it with me like you mean it! Say it, Andrew J. Hall! Say it, Dan S. Loeb (15 […]

    / Feb 28, 2008 at 2:13 PM
  • News

    Dobbs vs Blankfein

    Alright so it would appear we jumped the gun a bit earlier re: Dobbs vs Blankfein. Dobbs didn’t actually say he wanted to rough Blankfein up but he did indeed invite the Little Fella to step into the ring, challenging the CEO to “say it to my face, not to my back, Partner” (we’re in […]

    / Feb 28, 2008 at 12:12 PM
  • News

    Why Do Rogue Traders Always Lose Money?

    Another rogue trader has caused huge losses at a major financial institution. MF Global Inc., which is largest broker of exchange-traded futures and options contracts, has said it set aside $141.5 million to cover losses caused by a trader who “substantially exceeded” trading limits in his own account. The FT identifies the culprit as Evan […]

    / Feb 28, 2008 at 11:05 AM
  • News

    Goldman Sachs CEO To Battle CNN Pundit?

    So Lou Dobbs challenged Lloyd Blankfein to a fistfight last night on his show, based on Blankfein’s suggestion to Dobbs’s boss at CNN that he ought to fire LD’s xenophobic ass? And MSNBC reported the request for a duel on “Morning Joe” today? And sources close to the Little Guy say he’s been dropping hints […]

    / Feb 28, 2008 at 10:59 AM
  • Auction Failure, Auction Rate Securities

    When Journalists Get Stung, The SEC Starts Buzzing

    It looks like the Wall Street Journal’s James Stewart got caught up in the auction-rated securities trap. And he is not happy about it. Last year, when some money-market funds turned out to hold some mortgage-backed securities and faced a liquidity crisis, their sponsors stepped in and redeemed the shares at face value. This seemed […]

    / Feb 28, 2008 at 10:10 AM

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