Supposedly “big cuts” are happening up at SAC circa now. Apparently the cannings, which have been going on “for a bit,” are across the board, and include employees in CR Intrinsic. We knew things were bad at the Big Guy’s house but this is quite disheartening. Fingers crossed that holiday party is still on, as Gary Busey has already rented his tux. Pruning is also said to be occurring today at Sigma Capital Management, including the dismissal of PM Julie Macklowe, Billy-boy’s wife.
Related: SAC Capital Taking A Breather
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
1
@Bess,
It would be best if you rather have a list of corp’s that are not laying of people…
@2
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Rudyd@platinumescorts.com
What about a list of corps that are getting people laid?
Steve will probably deny he’s in trouble, like Cliff did. that DB is “grossly exaggerating” the loss of personnel and AUM.
cuts? pruning? sac? enough already I am losing bloodflow.
Fuck cliff asness.
Gotta cut back on buying dresses, v. secret for the trading staff. I’d bet hormone pill sales are going to be down on this news, I’m shorting Pharma based on this horrible news.
-mrp
Where’s Tong and Pink(g) Jiang?
Serious dearth of comments today and no Guess the Dow@close…What’s happening people? Too many trapped longs?
Hedge funds run pretty lean dont they? Can layoffs really be of a significant number? Also, so much of the comp is incentive based, so how much money is saved by showing someone the door? Comments?
what is the deal with bridgewater?
WTF! explain the AIG Jan 28 call volume
I want the truth
Anyone know what Rahm Emanuel did at Dresdner AG? i-banking?
Where’s the fucking money Lebowski?
YEAH WHERE’S THE MONEY SHIT HEAD!
17 No, but I do know that his brother is an agent at ICM in bev hills and the inspiration for Ari on Entourage.
@17
yeah he was a banker.
19 – Don’t pimp your POS newsletter here. It just gives people someone to trade against.
17 I’m guessing he did what everyone who gets out of a good school with a lib arts degree and then lands a banking job: spreadsheet humping, pitch book construction and carrying, smiling at the client knowingly while the MD tries to make the sale.
@17…Ari Emmanuel is not at ICM – he runs his own shop and its Endeavor.
But i never made that connection before?
I think today will be a record for the most comments deleted. Can we start selecting our comments from a drop down box?
@ 16 Classic! How would Lebowski do on the street?
@23…OBVIOUSLY YOU’RE NOT A GOLFER.
sac was getting a little too bush league. A good trim was in order.
Just home they don’t cut too deep, you can shear a sheep many times, but skin it only once.
@ 24 please playboy… +2 whatcha know about that?
Randomly deleting comments has the unfortunate side-effect of making other comments useless. Now I’ll never know what pearl of wisdom “17″ spouted.
@27- it’s not random deleting, it’s deleting of spamming garbage, such as the link from the old 17 to his shit blog.
@20
Wrong.
Over a 2 1/2-year Emanuel helped broker deals for Wasserstein Perella.
According to congressional financial disclosures, he earned more than $18 million during that period. His deals included Unicom’s merger with Peco Energy and venture fund GTCR Golder Rauner’s purchase of SBC subsidiary SecurityLink. But friends say his compensation also benefited from two sales of the Wasserstein firm itself, first to Dresdner Bank and then to Allianz AG.
@26…it was a joke howdie -
My… my wi-, my wife, Bunny? Do you see a wedding ring on my finger? Does this place look like I’m fucking married? The toilet seat’s up, man!
@27 I gots tons of wisdoms to share, whats your question. Better hurry before this is two deleted.
SPODE
@29…does he know Muffie? I bet he would slap her to the curb!
And let’s also not forget — let’s not forget, Dude — that keeping wildlife, uh, an amphibious rodent, for uh, you know, domestic… within the city… that ain’t legal either.
@32
Good question because Muffie is a fictional character with obvious Chicago connections.
However, the person who writes as Muffie (and that’s not Bess), would definitely be bitch slapped to the curb by Rahm. He doesn’t suffer fools gladly.
@32 … he would indeed
SAC is positioned well, despite the fluidity of the situation.
Does anyone have SAC’s Oct & YTD numbers? Did Stevie get a VW lube special at the end of the month?
i’ve also read that rahm was the inspiration for the joshua lymon character in the West Wing, back from his days as an advisor in the clinton white house.
think he went to Dresdner after the clinton years and worked for a few years, built up a war chest so he could return to public service and not have to fret too much about the abysmal pay.
Most of the well known companies are in the mood of firing employees. The list is being increased every time. No one knows when this situation would be stopped.
Finance blog, Finance, Economics, Corporate Finance, Personal Finance, Investing and Marketing
37 Word has it that SAC blew up his personal trading account in the VW short squeeze. 9 billion gone baby gone. Heard he’s going through a shit storm – major trouble ahead not confined to profitability.
@40, Thank You,
I always wondered when he would jump the shark and get eaten…
-37