When Stanley Druckenmiller announced earlier this week that he’d be shuttering his fund, Duquense Capital, and retiring from the business after 30 years, many wondered which luminary would be next to pack it in. Steve Cohen? Paul Tudor Jones? Larry Robbins? So far, just one: Paolo Pellegrini.
Kind of. Absolute Return reports the former Paulson and Co employee who helped John make a metric fuck-ton on subprime and later left (or was asked to leave, due to what some at P&Co suggested was li’l bit of an attitude problem) and started his own firm, PSQR (a play on his own name), informed investors today that he will be returning all outside investors’ capital in the fund, which was down 8% in July and 11% YTD), after returning 40% in 2008 and 61.6% in 2009. “While my views on global economies haven’t changed, I’ve concluded that substantial additional work is required to position the Fund to profit consistently from those views,” said Pellegrini in his letter. P-squared will continue to manage his own capital and, one would hope, pick up where he left off behind the DJ booth and/or on his efforts to legalize pot. [AR]
Tap water’s fine, thanks
why am i going to the WSJ to find stuff like this?
http://blogs.wsj.com/deals/2010/08/20/wall-street-drug-use-employees-giving-up-cocaine-for-pot-and-pills/?mod=yahoo_hs
@2 because I only have two hands and you pride yourself on being an impatient little bitch?
That would be why.
@2 = Matt Taibbi
Matt Taibbi
Bess, I had a dream last night that you gave me a long and lazy hand job with your mouth. So good.
@6 Dude your creep-factor just shot off the meter
whats up with the new layout
-guy that doesnt browse db til noon
Are bonobos like testicles?
@7/PG probably not the best context to use the words “shot off”
Bonobos are the only thing that can sharpen my pencil manually.
Please let Amanda and Melissa take turns with the shake weight. That would make my day.
Man with hands in his Bonobo pockets feels cocky.
anyone know where a guy could get some better fitting pants while saving 20% all at once?
- Guy who is poor and pantless
Bonobreaker!
@10/NS True, that.
@14 FTW.
this guy made his 100M and got whipsawed by the Treasuries trade… bit of a lucky roguish Italian but a lucky one… PSQR would have reqiured real work which this guy was not prepared to do…
i pick legalize it!
@18 Italians invented financial markets. WASPs just fucked them up.
i did the same thing this past spring i now run a fund with my own money and have a lot less headaches and do just fine….langco
I’m getting hammered in the treasury trade as well.
The issue for pellegrini is that investors in hedge funds want consistent gains or they will flee to the manager with the “hot hand”.
I know the man personally.He’s a great example of how an incredibly tiny bit of knowledge can be a dangerous thing.
So little love for #1, I’m still loling
Paolo is a friggin joke
Paolo is not a joke, he did what we all wishes we could have.
Paolo is not a joke, he did what we all wishes we could have.
SDyYX8 Major thankies for the article post.Really looking forward to read more. Cool.
Greetings from Ukraine Metropolis Kievbr /We could well be pretty handy a person serverbr /Thanks Yours
The u.s. has only been at war in afghanistan for about 12 several years now and you didnt realize it received cold there? Wow.