• 30 Oct 2008 at 8:05 AM

Cash Is King

Reputation is everything, it seems. So while others are closing shop, the likes of SAC, Greenlight, Elliott Management and Brevan Howard Asset Management have raised billions. Of course, Stevie Boy isn’t taking money until January, since his idiot portfolio managers forced him to close most of SAC’s operations in disgust earlier this month.
Just a guess, but do you think Bloomberg has it right? Do high water marks have anything to do with it?
SAC’s Cohen, Einhorn Raise Money as Most Hedge Funds Shrink [Bloomberg]

6 comments (hidden to protect delicate sensibilities)
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Comments (6)

  1. Posted by guest | October 30, 2008 at 8:19 AM

    Where do I send the $$$$?

  2. Posted by guest | October 30, 2008 at 8:25 AM

    oh please. Easiest. Decision-Tree. Ever.
    1. Keep funds closed. No incentive fee until all losses are recouped. Risk PMs leaving. I don’t make much.
    2. Open funds. Get incentive fee on new money. PMs are happy. I make bank.

  3. Posted by miami | October 30, 2008 at 11:37 AM

    3. Replace funds that are leaving, need to replace with new cash to buy undervalued assets.
    4. See 2 above.

  4. Posted by guest | October 30, 2008 at 12:01 PM

    SAC Int’l Ltd accepted money last fall from existing investors. Perhaps there is some subtlety to the word “accepted” as used by Bloomberg that I am missing here.

  5. Posted by guest | October 30, 2008 at 3:27 PM

    Cash Rules Everything Around Me

  6. Posted by bookmarking submission | September 9, 2012 at 7:52 PM

    EGzaBO Thanks again for the blog post.Much thanks again. Much obliged.