Don’t call it a comeback! Especially not as it relates to T. Partners, for whom this is probably a bit bittersweet.
Tontine 25 Fund, LP:
May 2009: 17.50%
YTD: 72.30%
Tontine Partners, LP:
May 2009: 15.20%
YTD: 49.80%
Earlier: Tontine: So Incredibly Kind Of But Not Really Back In The Game
Tontine’s Very Special Offer
Jeff Gendell, you are good enough, smart enough, and god damn it, people love you!
I have a feeling the real estate brokers in nyc are going to start getting a few more phone calls…
@cluzo- um, no. they were down between 70-80 percent last year.
only 1000% to go til they make their high water marks.
What’s 20% * 72% * $1MM?
/have no idea what their actual fee structure is
@3, cluzo’s been here since day one; pretty sure he knows this
@6- apparently not, if he thinks gendell is in any position to be buying property.
@7, I don’t think he was being 100% serial there
@7 – not talking about jg, talking about the minions that are going to get paid this year because a lot of funds are up. back to work…
Paulson Loses US$165 Million On Barclays Short
http://www.finalternatives.com/node/8123
Please discuss…
Lets put this in perspective. They closed the old funds, raised $12 million to start the new, which of course wiped out the old high water mark. $12 million though is nothing in this space and the partners probably put in most of that. So now they have a very short record that hopefully will impress a new round of investors who they hope will ignore their old record. Their story will be that this is impressive cause the old fund used leverage, this one doesn’t. So on a risk adjusted basis.. blah blah…. Could work, but its too soon to declare this as the start of the return of the good times.
@10- that was in write offs yesterday, thanks for being quick on the uptake.
@12
Who is this guest and why does he hurt me so good.
Cluzo, I agree. We were down 51% last year, up 43% a/o today. I understand 60% more to go to get even, but we run family(not mine)$$, so the payout is different. That being said on June 30 the three of us are splitting a $400k bonus. Things are looking better. Also we are in the Midwest, not New York, so I may pick up a property.
@11, they’re not truly sans leverage if they’re investing in highly levered companies, which they’d have to be to get 72%.
@11- wayyy too soon. and “blah blah blah” is right.
Jerry : The New York Yankees?!
Ruth, Gehrig, DiMaggio, Mantle … Costanza?
George : I’m the assistant to the travelling secretary. I’m going on the road trips with them! I’ll be on the plane… I’m working in Yankee Stadium! This is a dream, I’m busting, Jerry, I’m busting!
And I’ moving out of my parents’ house, I’m taking that apartment on 86th street, remember the one we saw?
Jerry : That’s a great place!
George : I’m back in business, baby!
Jerry : George, I wouldn’t get too excited about this stuff, you know, things have a way of evening out.
BWEN
These aren’t the new funds, there are the old funds. Highwater mark still in effect.