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.
Earlier: From The Desk Of Bo Collins
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First to file for bankruptcy!
I know John Arnold. John Arnold was a friend of mine. Bo, you’re no John Arnold.
Golden showers for one and all…
Traders don’t lose money; golden ratios do.
maybe Bo should try trading gold?
Bo knows dick and Bo sucks dick
Robert “Bo” Collins is an assclown.
Bo knows kneepads
Bo knows doggy style
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?
I’m gonna sell SIZE efs… what could go wrong?
I’m gonna sell SIZE efs… what could go wrong?
I’m gonna sell SIZE efs… what could go wrong?
I’m gonna sell SIZE efs… what could go wrong?
Bo-zo
Who’s the champ that put the deal together for RBC?…
Back to pres of NYMEX for Do Dollins
Why isn’t Paulson bailing him out?
Cause he had no exposure to Goldman
@19 Should be the other way round.
When you let an Aggie manage investment capital, you get investment returns that look like they were generated by an Aggie.
How bad of traders are these clowns…it takes serious effort to burn that type of dough…
How bad of traders are these clowns…it takes serious effort to burn that type of dough…
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.
@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
what was the % of his loss?
how much size was he selling? i thought efs’s were bilateral OTC transactions?
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.
@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?
@29
Pretty sure that the blow up was known before they went to RBC. Only by the timeline of the rumors.
-10
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.