A Hedge Fund King Comes Under Siege (WSJ)
Ken Griffin is ready to move on from last year, and would like you to move on and invest with him. If you’re nervous about the losses, take heart: “If there were a repeat of 2008′s market turmoil, Mr. Griffin says, his funds would lose less than 20% rather than 55%. Citadel’s biggest hedge fund has rebounded 58% this year through mid-November. And recently, Mr. Griffin has resumed talking about an initial public offering for Citadel as early as next year.”
Whitney Says Goldman Has Lost ‘Talent’ (Bloomberg)
Not just a little talent but a “tremendous amount of talent,” as a result of execs leaving to start hedge funds, apparently.
New Link In Insider Trading Case (WSJ)
Gary Rosenbach, a Galleon senior partner who left the hedge fund “due to family health reasons” earlier this year.
Elizabeth Warren: Winning Means You Won’t Sell It If You Can’t Explain It (Bloomberg)
“We need a new model: If you can’t explain it, you can’t sell it,” said Warren.
Goldman Was Exposed to AIG Losses: Government Report (NYT)
Surprise! If AIG had collapsed, it would have made it difficult for Goldman to liquidate its trading positions with AIG, even at discounts, the report said. It also would have put pressure on other counterparties that “might have made it difficult for Goldman Sachs to collect on the credit protection it had purchased against an AIG default.” A Goldman spokesman called the risks discussed in the report a “moot point.”
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i’m sure that piece of 20/20 hindsight will be a comfort to citadel investors.
Citadel’s gas bill for milk-shakes is bringing them down.
and here i thought all their “talent” was in washington or in their board room – who would have thought rank and file at gs was considered talent? they make galleon look like pikers
I think Goldman meant to say the point is “moo”
-Joey Tribbiani
Jeez, if meredith keeps up the agression she’ll have LB shouting his safety word in a matter of minutes.
Ken plucks his eyebrows!?
Could Ken Griffin possibly be any more of a
s
h
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t
h
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than he already is?
I can’t take Ken seriously unless he he’s wearing his bow tie.
That Warren vagine sounds like a NOT sweetheart.
-Borat
Have Ken Griffin and Pete Thiel ever been seen in the same room together?
Well at least “If you can’t explain it” is much better than “If they can’t understand it”.
It’s a moot point because they are paying out record bonuses regardless of what any god, person or report says.
he looks so regal in that pic
When the Galleon news first broke wasn’t Dealbreaker the first one to mention Gary Rosenbach-co founder- will also be named in this case or is working for the feds as a witness. My kid plays ball with his son. I I haven’t heard a word about what family member is actually sick. Sounds like some BS to cover up why he really left the fund so fast.
hey kenny boy, smoke my bone!!
-dennis k
NEVER AGAIN!
Let’s call this new model “Inside the box. The toolbox.” Thanks for the shoutout from Squaresville, Liz. How’s the nineteenth century coming along?
- guest
I used to have the same problem with people who didn’t understand what we did and I would just dismiss them by saying, “Hey…you either get it or you don’t.”
~Jeff S.
License Plate Dept.
State of Minnesota
We should really thank the special inspector general for figuring out something that common sense told everyone else a year ago. But then again, GS did have “collateral.”
anyone else getting “comment has been received and is waiting for approval by the editor” messages post comment?
The mootness refers only to declining prices of trades with AIG, not to collecting on CDS; and assumes Goldman getting TLGP & TARP money, but who wants to parse all that?
@anal Ill get that if I am trying to put a link in the comment. It has taught me to examine my motives
@23/NS you are the shit.
ahh, lets try again then…
@15/trader in ct
tips “at” dealbreaker “dot” com
@15.
It’s been widely reported that Gary’s wife is quite ill, so quick with the bs rumors. I doubt you even know him.
@15.
It’s been widely reported that Gary’s wife is quite ill, so quit with the bs rumors. I doubt you even know him.
Punch Kenny’s fu*king lights out; that’s what TGFD says.
Isn’t there somebody close to Kenny, somebody somewhere with the courage to kick his sorry ass?
TGFD would do it, but I don’t like Chicago, and besides, I couldn’t get close to him anyway.
The Guy from Delaware
@28/TGFD
I can. I can get pictures, too.