• 20 Jan 2009 at 1:47 PM

Steel Partners Gives Ping Jiang A Run For His Money

By Equity Private

Picture 599.pngBrass-balled letters to investors from managers informing investors, unapologetically, that (circle one or more) (a) great news: you’re getting 3 cents back for every dollar you invested in our fund (b) requests for money to be returned have been DE-NIED (c) markets = stupid, me = smart are a dime a dozen. That much is obvious. Missives written under the tutelage of Blanche DuBois, are much more rare, and until very recently, came exclusively from our favorite she-males in Stamford. When Warren Lichtenstein got drunk and sat down to compose some thoughts on the matter of his firm’s decision to turn its flagship hedge fund into a publicly-listed vehicle, without telling anyone, after losing 43 percent of its assets in the first 11 months of 2008, he could’ve taken the easy way out, and just been a dick. But the pre-op transsexual in him said “No, Warren, NO. You can do better. Let’s show THOSE BITCHES what you’ve got.” I think we can all agree, he did just that.
Picture 597.png
Steel Partners Complaint [PDF]

Comments (14)

  1. 1
    Posted by guest | January 20, 2009 at 1:57 PM

    HAHAHAHAHAHA! This is great. I worked for Gabelli and he was constantly seeing what “Warren” was doing, and buying stocks that Steel Partners had big holdings in, and yelling at the analysts if we dared disagree. And now the emperor has no clothes. HA!

  2. 2
    Posted by guest | January 20, 2009 at 2:01 PM

    You see who is suing him? Carl Icahn. Plaintiff is ACF Industries, the ERISA plan for Icahn-controlled ACF. Weren’t he and Warren buddies?

  3. 3
    Posted by guest | January 20, 2009 at 2:05 PM

    http://www.law.com/jsp/article.jsp?id=1202427515232
    looks like they may even be able to get away with it. Warren Lichtenstein – killing the goose that laid the golden egg.

  4. 4
    Posted by guest | January 20, 2009 at 2:47 PM

    What in hell does this have to do with Ping Jiang?

  5. 5
    Posted by guest | January 20, 2009 at 2:58 PM

    and why is he called a pre-op tranny???

  6. 6
    Posted by guest | January 20, 2009 at 3:17 PM

    @4/5- i know it’s hard but try and keep up: ping jiang = she-male –> who would probably write investor letters citing make-up companies. got it? you take your time.

  7. 7
    Posted by Alderfly | January 20, 2009 at 4:14 PM

    Too lazy to look, has anyone posted the letter? Sounds like a fun read.

  8. 8
    Posted by Alderfly | January 20, 2009 at 4:18 PM

    Too lazy to look, has anyone posted the letter? Sounds like a fun read.

  9. 9
    Posted by guest | January 20, 2009 at 4:46 PM

    @1: I worked for Gabelli and he never did any of that s**t. I call bullsh*t.

  10. 10
    Posted by guest | January 20, 2009 at 5:18 PM

    What he did do was knock up HSBC chief’s baby daughter Annabelle Bond then ditch her pregnant ass. Real jerk, this one.

  11. 11
    Posted by guest | January 20, 2009 at 5:51 PM

    Annabelle is a smokeshow and Warren looks like a mole, I doubt he dropped her.

  12. 12
    Posted by guest | January 20, 2009 at 5:51 PM

    Annabelle is a smokeshow and Warren looks like a mole, I doubt he dropped her.

  13. 13
    Posted by guest | January 20, 2009 at 5:52 PM

    Annabelle is a smokeshow and Warren looks like a mole, I doubt he dropped her.

  14. 14
    Posted by guest | January 20, 2009 at 8:01 PM

    Love your blog!!!
    Do you have the text of the actual letter? Would love to see it….

Leave a comment

You can log in with your account or comment as a guest below.

   or