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$$$ “In one way, it’s nice to run less money,” said Mr. Gundlach, chief executive of the Los Angeles asset-management firm. But in another way, he said, “I like to think of myself as a big-time bond-fund manager.” [WSJ]
$$$ John Paulson Hedge Fund Added to Bank of America Holding in First Quarter [Bloomberg]
$$$ Analyst: Arby’s performance ‘amongst the worst in modern restaurant history‘ [NYDN]
$$$ Meredith Whitney: Investors Should Avoid Banks ‘At All Costs’ [CNBC]
Before the financial crisis, young Wall Street hot shots used to clamor to get named in Trader Monthly’s “Top Traders Under 30.” Trader Monthly has been relegated to the dustbin of failed financial publications, but Wall Street Cheat Sheet decided to spend the last 8 months finding the top 3 traders under 30 and anoint them the new BSDs of finance. Their raw talent is compared to that of pro ball players Kobe Bryant, Dwight Howard and LeBron James.
Here they are: Continue reading »
Annaline Dinkelmann, who is “a licensed New York City sightseeing guide and trades currencies in the mornings,” includes AIG and Goldman Sachs in her stops, and commentary on William Duer, “Hamilton’s right-hand man at the Treasury, whose speculative activities led to a market crash in 1792″ and Jay Gould “who helped cause a panic on Black Friday: Sept. 24, 1869.” The walk costs $45 and apparently the demand “has been brisk.” Still, there’s always room for competition, and if one of you were to be interested in going up against Dinkelmann, who once had lunch with John Mack and thinks “Vikram Pandit is a strong man who knows how to make money…he’s going to make a lot of money for Citigroup,” here are some free ideas for stops: Continue reading »
The whole thing was definitely caused by some mamaluke but it’s unlike the guy was rocking unusually large appendages. Continue reading »
Ladies and transvestite beauts of SAC– I have some devastating news to report. Arki Busson is back together with Uma Thurman, after having called off their engagement (and relationship) last December. I know that this is going to be a tough pill for you to swallow, but if it makes you feel any better, there’s going to be at least one person for whom the news is so much more devastating. And that guy is Andy Davidson. Continue reading »
John Paulson is racking up big gains in his Recovery Fund, the $2 billion vehicle that purchased the assets of the former IndyMac Bank. According to Paulson’s latest investor letter, the fund is up 17 percent for the quarter.
Here’s the returns in the firm’s other funds for Q1: Continue reading »
His name was Dan Tuckfield, and though the police say that their investigation “did not find that there was anything suspicious about the way the man died,” he did show “signs of decomposition” by the time they found him, which was almost immediately, so the neighbors are suspicious. Obviously this is very sad, but if there’s any consolation to be had, it’s the comfort we can take in the fact that Tuckfield was the happiest possible conditions when he passed: he was in a Jacuzzi and he was naked. It doesn’t get much better than that (the only way it could is if he was literally surrounded by bacon, not just in spirit, or if his tongue constantly regenerating strip of bacon). Continue reading »
Anil Kumar, the former McKinsey & Co. consultant who pleaded guilty to passing confidential information to Raj Rajaratnam, has been ordered to pay about $2.8 million in disgorgement and penalties to settle related SEC charges against him.
Kumar pleaded guilty in January to providing Rajaratnam with information about pending mergers including a takeover of ATI Technologies by Advanced Mirco Devices in 2006. After receiving the info, Raj told Kumar: “Anil, you are a hero,” according to prosecutors.
If you’re looking for a way to commemorate Kumar, please take a moment now to rock out to his rap. Full volume, no headphones.
As you undoubtedly know by now, during the course of his preparation for Wall Street 2: Money Never Sleeps, Shia LaBeouf became a master trader. He worked with the guys at Encino Charles Schwab office, Citi and John Thomas Financial, he turned $20,000 into almost half a mill, he’s thisclose to becoming a Chartered Financial Analyst and he knows exactly what it takes to get hired at Goldman Sachs. He’s spoken of his pedigree many, many times, under the guise of promoting the movie all the while communicating to Wall Street that there’s a new Josh Birnbaum in town and so far, things have been coming together quite nicely. He has offers coming out the ass, he senses that Lloyd is just waiting for the right moment to can Viniar and offer him the gig and re: Shia LaBeouf Capital Management, all I’m going to say is that it’s been communicated from Stamford that the seed money is there for the taking. And up until this point, the plan has gone off without a hitch, because his co-star, Josh Brolin, has kept his trap shut. You see, kids, because he achieved none of the theatrical success young Shia did at an early age, brolin had to start day trading in order to pay the bills. He achieved a tiny modicum of success but nothing like LaB. Did he trade on his cell phone? No! Did he have Bloomberg on speed-dial? No! And yet this prick is now going around telling people how fucking great he is at making it rain. Continue reading »
So your brother-in-law works at a major Wall Street bank that’s advising on a big corporate takeover. Now, let’s say he slips up at Thanksgiving dinner after downing too many martinis and gives you a hot tip about the pending deal. In Doug Bandow’s world, you should be able to trade, and profit, on that info without being afraid of ending up like “Martha f__ing Stewart” in the words of one Danielle Chiesi.
Here’s more from Bandow, a senior fellow at the Cato Institute, via his Op-Ed in Barron’s over the weekend. Continue reading »
