Oh, hey, we didn’t see you there. Come on in, don’t be shy. Oops, mind the blood on the floor, we’re not yet done mopping that up. We’ll have that cleared in a jiffy, and in the meantime, if you slip and fall, don’t go trying to sue us, okay? Okay? I kid. Anyway we brought you here today because we’re hoping you’ll give us– hey, are you going to be okay? You look a little ill? Is it the sight of my ass being sutured back together? Yeah, sorry, should’ve warned you it’d be graphic. Don’t worry, you’ll get used to it.
Tontine Capital to Start New Hedge Fund After Losses This Year [Bloomberg]
Don’t worry about any of this:
Tontine Capital And Tontine Partners Closing Up Shop
Dear Team Tontine
Dear Investor
This is SO amusing, coming on the heels of the JWM story, as JWM was LTCM Jr.
He should work on Totally Returning Funds to his old investors first..
Can their please be someone to have the balls to start a FIFO Hedge Fund
@1- really? JWM was founded by the LTCM guy? thanks for that big scoop! you must be a big insider.
Those high water marks are a bitch
Fund will actually be run by
http://www.break.com/index/kentuckys-famous-turtle-man.html
Jeff Gendell one time sucked in deez nuts
Caveat emptor since the regulatory bodies are completely useless (I’d like to smash Chris Cox in the face with a shovel).
I bet they get 500mm and if he’s so thick he’ll go buy all the names he owns in the TCP funds. some of the shit they owned was interesting, some of it was just deep value, and some of it unexplainable
Tontine is PATHETIC.
If you invested with Tontine at inception and averaged 38% annually (12 years), even with an 80% loss this year, you still earned >20% annually.
@11: bulk of his assets did not come at inception. That’s a nice statistic, but try the more reasonable stats of 7 or 5 or 3 year investors.
what was their AUM at its peak? I would think with those kinds of returns 38% for 12 years…. gendell was personally 20% of the money
Considering 2003 and 2005 returns of >100%, 5 and 7 year stats are not too bad either.
average returns of 38%/year for the last 12 years, but down 67%-77% this year puts you in the same place as making 19%-22%/year since inception. not too bad.
@15
I second that.
so much for high water marks protecting investors…
Gendell wants to buy back all the stock he sold so he can fuck the guys that tried to short him out of business.
11/16 ie jeff g. should stop posting anonymously.
Jeff G and RAB Spec Situations are going to combine and run the “Wait I Own 20% of Buffalo Gold and Now They are Out of Cash, so They Can’t Develope This Non Existant Mine” Fund.
Lol, those two were the dream of every nat resources scammer in Vancouver!
I can assure you that Tontine was a negative NPV operation for the outside investors. Pretty much all hedge funds have proven to be that now.