Nov 11, 2009, 10:34am
Nov 10, 2009, 8:45am
Bloomberg reports that RBC Capital Markets is attempting to force Bo Collins' 1.618 Group to liquidate. RBC filed a Chapter 7 bankruptcy petition today in Manhattan, claiming the energy trader owes it $33.2 million. The ironically named firm is Bo Collins' second attempt at the hedge fund biz, having founded the now-defunct MotherRock.
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Posted by guest , Nov 12, 2008 12:49PM
First to file for bankruptcy!
Posted by guest , Nov 12, 2008 12:50PM
I know John Arnold. John Arnold was a friend of mine. Bo, you're no John Arnold.
Posted by guest , Nov 12, 2008 12:50PM
Golden showers for one and all...
Posted by guest , Nov 12, 2008 12:52PM
Traders don't lose money; golden ratios do.
Posted by guest , Nov 12, 2008 12:56PM
maybe Bo should try trading gold?
Posted by guest , Nov 12, 2008 1:18PM
Bo knows dick and Bo sucks dick
Posted by guest , Nov 12, 2008 1:23PM
Robert "Bo" Collins is an assclown.
Posted by guest , Nov 12, 2008 1:26PM
Bo knows kneepads
Posted by guest , Nov 12, 2008 1:27PM
Bo knows doggy style
Posted by guest , Nov 12, 2008 1:29PM
There is all kinds of weird in this.
4/26/07 MotherRock colleagues are starting a venture called 1618 Group, with tens of millions raised already from one investor.
10/22/08 Several employees will be leaving the firm to begin a new venture and are exploring strategic opportunities with RBC Capital Markets.
11/12/08 RBC filed a Chapter 7 bankruptcy petition today in Manhattan, claiming the energy trader owes it $33.2 million.
So, RBC sues 1.618 for 30mil, putting loss estimates above 50mil. Then hires the team that did it?
Posted by guest , Nov 12, 2008 1:30PM
I'm gonna sell SIZE efs... what could go wrong?
Posted by guest , Nov 12, 2008 1:30PM
I'm gonna sell SIZE efs... what could go wrong?
Posted by guest , Nov 12, 2008 1:30PM
I'm gonna sell SIZE efs... what could go wrong?
Posted by guest , Nov 12, 2008 1:32PM
I'm gonna sell SIZE efs... what could go wrong?
Posted by guest , Nov 12, 2008 1:32PM
Bo-zo
Posted by guest , Nov 12, 2008 1:33PM
Who's the champ that put the deal together for RBC?...
Posted by guest , Nov 12, 2008 1:38PM
Back to pres of NYMEX for Do Dollins
Posted by guest , Nov 12, 2008 1:39PM
Why isn't Paulson bailing him out?
Posted by guest , Nov 12, 2008 1:42PM
Cause he had no exposure to Goldman
Posted by guest , Nov 12, 2008 1:46PM
@19 Should be the other way round.
Posted by guest , Nov 12, 2008 1:54PM
When you let an Aggie manage investment capital, you get investment returns that look like they were generated by an Aggie.
Posted by Peaktrade , Nov 12, 2008 3:23PM
How bad of traders are these clowns...it takes serious effort to burn that type of dough...
Posted by Peaktrade , Nov 12, 2008 3:23PM
How bad of traders are these clowns...it takes serious effort to burn that type of dough...
Posted by guest , Nov 12, 2008 4:42PM
Not even close. he gamed the system, again. The ice/ nmx efs settles flat every day implicitly... but in reality it trades around 8ticks.. bottom line: he got an investor redemption (only had 1) and everyone thought he was up money. then rbc gets handed a shit-show and they go and price it in the market.. surprise!!! RBC just lost 33MM on a bad mark to market. he shouldn't have even let the investor have the money back, especially if he knew waht the portfolio was really worth. Meanwhile Bo runs to his daddy Vinny Viola for a job... again.
Posted by guest , Nov 12, 2008 4:55PM
@24 right on dude
the guy has 9 lives, ruins El Paso then screws up the NYMEX (impressive considering the tools the run the exchange)then buys John Arnold another house thx to Mother rock and now blows up again.
he must have pics of vinnie viola with a she-male or something
Posted by guest , Nov 12, 2008 5:30PM
what was the % of his loss?
Posted by guest , Nov 12, 2008 5:43PM
how much size was he selling? i thought efs's were bilateral OTC transactions?
Posted by guest , Nov 12, 2008 6:39PM
Nothing beats the story of when the Calyon CDO's tools that left for Mizuho. Huge legal battle. As it turn out not having a CDO group at Calyon saved them tons of loses that were instead realized at Mizuho since they overpaid for the silly frogs at the absolute worst time.
You can't make this stuff up.
Posted by guest , Nov 12, 2008 11:21PM
@10: What I want to know is, how does his team go to RBC before the portfolio is found to be blown up? I wonder if he sold his team and the piece of shit position to them. How else could that have happened?
Posted by guest , Nov 13, 2008 9:25AM
@29
Pretty sure that the blow up was known before they went to RBC. Only by the timeline of the rumors.
-10
Posted by guest , Nov 14, 2008 12:26AM
Which team of chimps at RBC decided to take the team and the book without doing their due diligence? If they did not know that it would cost them to get out of the EFS position, what are they doing in that business anyways? They're all a bunch of jackasses.