Update: UBP takes New Castle up on offer to pull money.
The New Castle Funds, once part of Bear Stearns Asset Management, have informed investors that despite the news of president Mark Kurland and “consultant” Danielle Chiesi being arrested for their roles in the Galleon insider trading case, everything is cool. Kurland and Chiesi have been blacklisted and your money in safe. Nevertheless, if you want to take your cash and make a run for it A-sap, everyone here will understand. (All funds provide monthly liquidity with 30 days notice.)
“You will never see any trader in the entire country who will trade harder than I will trade the rest of the year,” he said. “And you will not see someone push the rest of the team as hard as I will push everybody for the rest of the year, and you will never see a team trade harder than we will the rest of the year.”
@1 who was that? kurland?
Robert Reitzes & Mark Kurland
Ying & Yang
“We are highly liquid…unleveraged”: Ineffective
“We are dangerously leveraged and any withdrawal will substantially reduce your NAV”: Effective
@4 you should be a hf manager.
@4 You are now hired as Handbridge Capital’s PR guru.
Famous last words:
“We think over the years we have really honed our skills and have established enough strong goodwill among the companies that we follow that we think that gives us a little bit of an edge over the competition,” Kurland said.
http://www.hedgefundsreview.com/hedge-funds-review/news/1557882/ubp-kicks-ucits-range-new-castle-fund
@2 – Kurland via Tim Tebow.
Bess, has anyone ever told you that you are the best?
“Shocked and surprised” – the standard phraseology of Wall Street when there’s a scandal.
“Initial shock…unfortunate events”
The only thing missing is “mistakes were made.”
I thought trading hard was a no no?
-Confused tranny sac trader
It’s just a minor hull scratch guys, honest!
-Captain Edward John Smith
Side note to honoring requests for redemptions. IOUs maybe used in lieu of currency.
That’s as good as money sir, those are IOU’s. Go ahead and add it up every cents accounted for. Look, see this that’s a car, 275 thou might want to hang on to that one.”
- A guy trying to unload his place in Bridgehampton.
@4 “We are highly liquid”
translation: we’ve been soaking in scotch since last friday.
@4 clearly gets it, @New Castle, fail.
Honesty, contrary to semi-popular belief, is not always the best policy.
Why is Newcastle two words?
@16 because that’s how it’s spelled. see the letterhead.
-m. kurland
@1 – God bless.
Easy redemption is a strict no-no in this line of business.. when credit shit hit the fan, the first funds to die were not the worst ones but the ones who offered easy redemption and easy liquidity…
New castle is history
-No Redemption Hedge Fund Guy
@16:
They named it for this:
http://newcastlebrown.com/
It’s just a flesh wound. I’m okay.
@4 = the new killing it
@21 Flesh wound? You have no arm!
“Our doors are open,” but out gates are closed. Don’t cause a run on bank on us.
@21/23 – I’m not dead yet!
Watched that last night as well.
Our asses are clean. Come and check it out for yourself.
The situation remains fluid.
12:30PM
UBP liquidates fund run by insider trading suspect
fat geordies
@25 The whole movie is on constant loop in my head. Boss does look a bit askew at me when I start running around babbling about sharp, pointy teeth, though.
@Tax I think I like you.
-21
@Tax Chick-
So… Logically… if she weighs the same as a duck… she’s made of wood… and therefore… A WITCH!!!
-25
@25 Who are you, who are so wise in the ways of science?
Okay, they really fucked up with the line: “Mark Kurland has taken a leave of absence from the firm.” A leave of absence? A LEAVE OF ABSENCE?! I want my money, motherfuckers! NOW!
The Dead Collector: Bring out yer dead.
Large Man with Dead Body: Here’s one.
The Dead Collector: That’ll be ninepence.
The Dead Body: I’m not dead.
The Dead Collector: What?
Large Man with Dead Body: Nothing. There’s your ninepence.
The Dead Body That Claims It Isn’t: I’m not dead.
The Dead Collector: ‘Ere, he says he’s not dead.
Large Man with Dead Body: Yes he is.
The Dead Body: I’m not.
The Dead Collector: He isn’t.
Large Man with Dead Body: Well, he will be soon, he’s very ill.
The Dead Body: I’m getting better.
Large Man with Dead Body: No you’re not, you’ll be stone dead in a moment.
A firm that should be investigated is Collin Stewart. Word on the Street is their head of sales, Mark Whaling, is a long time good friends with Mark Kurland and his relatives are employees on the Collin Stewart trading desk. This has tenticles everywhere.
A firm that should be investigated is Collin Stewart. Word on the Street is their head of sales, Mark Whaling, is a long time good friends with Mark Kurland and his relatives are employees on the Collin Stewart trading desk. This has tenticles everywhere.
A firm that should be investigated is Collin Stewart. Word on the Street is their head of sales, Mark Whaling, is a long time good friends with Mark Kurland and his relatives are employees on the Collin Stewart trading desk. This has tenticles everywhere.
A firm that should be investigated is Collin Stewart. Word on the Street is their head of sales, Mark Whaling, is a long time good friends with Mark Kurland and his relatives are employees on the Collin Stewart trading desk. This has tenticles everywhere.
have to much coffee today?
Moron it is called Collins Stewart and he is a good guy.
Interesting, Benjamin Reitzes, related to Robert Reitzes of New Castle is analyst at Barclays and followed IBM and JAVA. Could it smell any worse.
Bob Reitzes and Mark Kurland were joined at the hip. If Kurland is a crook, Reitzes is too. There is no way that Reitzes didn’t know everything illegal that Kurland was up to.
Robert Reitzes and Mark Kurland
Why is Mark Kurland going to prison and not Robert Reitzes?
They did EVERYTHING together.
Did they bang Dani together?