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Wall Street Insider – Financial News, Headlines, Commentary and Analysis – Hedge Funds, Private Equity, Banks
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Please tell me that’s not real.
He should charge a higher management fee, since it is trivial in relation to the loss anyway who would even notice?
can’t be real; as far as i know they were up 20% last yr—no letterhead or seal, basic typed up font
can’t be real; as far as i know they were up 20% last yr—no letterhead or seal, basic typed up font
or just an individual fund bc TGT did lose half its value
or just an individual fund bc TGT did lose half its value
We’re in a recession, the consumer has ceased spending money and PS built a monster position in one of the nations largest retailers last year, why is everyone surprised they have a loss???
Takes talent to piss away nearly $1T in such a short time.
God Bless America.
that’s the return for TGT only which is IV A
Would it be possible for everyone to double post??? Maybe you fucking retards haven’t figured it out yet, IT TAKES A FEW MINUTES FOR YOUR POSTS TO SHOW UP!!!!!!!!!
@ 2:44
I think you mean $1B. Last time I checked PS didn’t have anywhere near “$1T” under management.
@2:45pm … HAHAHA – Gold! milk right out the nose after reading that little tirade …
Is there a way I can filter articles such that I’ll only be subjected to the humor of the great Bess Levin. This substitute author shit is getting old!
75.7 million contracts would mean they have optioned 10x the outstanding shares and as of today they are all in the money.
That would be quite a challenge to lose a trillion in target no?
@ 2:51
The author is listed IMMEDIATELY UNDER THE TITLE OF THE POST!!!! Are you the one who has been double posting???
How do you double post, anyway?
@ 2:53
Ignore him, he’s one of the retards double posting.
How do you double post, anyway?
@2:55
Yes, I’m the double-poster.
@2:55
Yes, I’m the double-poster.
I thought most DB posters were Walmart shoppers, not Target
The double posters are Little League coaches. Next time your kid is playing, listen for these “doubles”: “Ok, Johnny, get a hit, get a hit!” “Way to go! Way to go!” “Let’s go! Let’s go!”
“Swing batter batter, swing batter better!” “Hold up! Hold up!”
@3:05 – NO, I’m the double-poster!
The asshole posting at 3:04 AND 3:05 must shop at Goodwill because that fucking idiot doesn’t have anough sense to make the money to afford anything other than second hand stuff.
@3:05 – NO, I’m the double-poster!
Salvation Army stores have better deals than Goodwill stores.
Salvation Army stores have better deals than Goodwill stores.
Crucify all the double posters from here to the gates of Rome!
what is their AUM?
i’m doubling posting you ass clown
i’m doubling posting you ass clown
i’m doubling posting you ass clown
@3:21
Real mature. You better quit fucking around and get the god damn mail delivered or I’ll see to it your living in a cardboard box next to a dumpster.
@3:21 & 3:22
Just because you used to work at BSC and don’t have anything better to do doesn’t mean you can waste our time and confirm what as ass you are.
BTW, take an English class.
Guys, yes, this is real. But it’s Pershing Square IV, NOT the flagship fund. PSQ IV is an SPV that holds ONLY TGT. This is not the fund with the MBIA/AMBAC CDS contracts, which earned +22% last year if i recall correctly.
Don’t confuse this with Ackman’s flagship portfolio. It’s one position in TGT with a three year lock.
Settle down folks.
Is this the same guy who started ‘Gotham’?
Pershing Square was up 29.3% gross in 07, and 22% net, this is NOT REAL AT ALL. Plus, high brow hedge funds don’t tend to print their financial statements on fuckin typewriters.
Here….
http://investor.biospace.com/biospace?GUID=5028300&Page=MEDIAVIEWER
Oh nevermind, onetwo is right, this is PS IV (get it?). Yea, if $1m was 90+ percent of partner’s capital, I don’t think ackman would be in the news everyday. Aren’t you all supposed to be math people?
Yea, but it’s not the same Gotham as Gotham Asset Mgmt, Ackman’s Gotham Blew up years ago.
April Fools?
HAHAHAHAHA… no its real, did I say 1m? whoops!
Pershing Square IV is down almost 11% for the month of March and over 4% YTD.
Yes this is the TGT fund.
Ackman on Target, Jan 10 2008 – Bloomberg TV
http://www.youtube.com/watch?v=IdpoamnN49A
Fuck this! More Ivanka!\
Guy def needs to increase their mgmt fees, $4m, psht
How is he only taking $4m with over $1B in assets? I mean, yeah, he lost a ton of money, but even that has to be worth more than a .4% management fee. Anything above Amaranth is at least 1%, right?
As an investor, I can tell you these #’s are legit. And the fund was up 25% in January.
@4:44 Its a one stock fund. Buy Target with leverage. That’s why the mgt fee is so low. The payoff will come to him in the form of the incentive fee when, and if, the strategy pays off.
Oh, and in case anyone is wondering who would invest in a one trick pony like this. The allocation is one of many that the typical hedge fund investor would have.
of course, GS alway outsmarts the street. Their culture is the best. Encouraging every to speak up and express their opinion freely unlike many highly political and seniority banks on wall street (especially the big name European ones). GS, MS, and Leh are probably the best ones out there. DB, CS, UBS are the probably the worst of all.
@5:40 i think you have GS culture confused with another investment bank of the past. BSC, remember Bear?