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:
Posted by guest , Dec 23, 2008 12:38PM
This is SO amusing, coming on the heels of the JWM story, as JWM was LTCM Jr.
Posted by guest , Dec 23, 2008 12:40PM
He should work on Totally Returning Funds to his old investors first..
Posted by guest , Dec 23, 2008 12:42PM
Can their please be someone to have the balls to start a FIFO Hedge Fund
Posted by guest , Dec 23, 2008 12:43PM
@1- really? JWM was founded by the LTCM guy? thanks for that big scoop! you must be a big insider.
Posted by guest , Dec 23, 2008 12:44PM
Those high water marks are a bitch
Posted by guest , Dec 23, 2008 12:47PM
Fund will actually be run by
http://www.break.com/index/kentuckys-famous-turtle-man.html
Posted by guest , Dec 23, 2008 12:47PM
Jeff Gendell one time sucked in deez nuts
Posted by guest , Dec 23, 2008 12:48PM
Caveat emptor since the regulatory bodies are completely useless (I'd like to smash Chris Cox in the face with a shovel).
Posted by guest , Dec 23, 2008 12:48PM
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
Posted by guest , Dec 23, 2008 12:51PM
Tontine is PATHETIC.
Posted by guest , Dec 23, 2008 1:05PM
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.
Posted by guest , Dec 23, 2008 1:09PM
@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.
Posted by guest , Dec 23, 2008 1:15PM
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
Posted by guest , Dec 23, 2008 1:34PM
Considering 2003 and 2005 returns of >100%, 5 and 7 year stats are not too bad either.
Posted by guest , Dec 23, 2008 1:37PM
"I'd like to smash Chris Cox in the face with a shovel"
I nominate @8 for quote of the day.
Posted by guest , Dec 23, 2008 1:49PM
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.
Posted by guest , Dec 23, 2008 1:50PM
@15
I second that.
Posted by guest , Dec 23, 2008 1:51PM
so much for high water marks protecting investors...
Posted by guest , Dec 23, 2008 1:51PM
Gendell wants to buy back all the stock he sold so he can fuck the guys that tried to short him out of business.
Posted by guest , Dec 23, 2008 2:05PM
11/16 ie jeff g. should stop posting anonymously.
Posted by guest , Dec 23, 2008 3:02PM
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!
Posted by guest , Dec 23, 2008 3:34PM
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.