Following the farewell of their commander-in-chief, Stanley Druckenmiller, who now gets to play golf and manage a family office, the former members of Team Duquesne have reassembled at the newly formed Point State Capital, with Sean Cullinan serving as CEO and 6 of the old boys taking roles as portfolio managers. Druckenmiller tossed the new shop about $1 billion (without the strings of an ownership stake) and the rest of the money comes from investors in the old fund. [Bloomberg]
Archive for November 2010
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Something you’ve probably picked up on over the last year or so is that Robert Benmosche? Is no one’s bitch. Not the market’s bitch, not Treasury’s bitch, not Andrew Cuomo’s bitch, and definitely not cancer’s bitch. At times when others would’ve rolled over and taken it, ‘Mosche told them where they could go. So it should come as no surprise that in the face of the unfortunate news of his illness, Benmosche has not only pledged to keep at it with the insurer, but not let a little c-word sideline him when it comes to keeping fit. He covered this and other topics in a memo to employees this morning. Continue reading »
The Journal reports that Paul Tudor Jones has put his 6,250-acre Maryland “hunting retreat” on the market, for $30 million. Continue reading »
We haven’t chronicled a food eating challenge in a while but in honor of Julian Robertson’s recently announced bid for the yet uncreated role of Obesity Czar, it’s only fitting we do so today. Although neither the volume nor the time allotment are in anyway difficult (50 items, 45 minutes) but the concept (the challenger must alternate Chicken McNuggets with Munchkins) appears somewhat disgusting. And, it’s Robertson-approved, as it would make him a decent amount of coin based on his proposed “fat tax” and “sugar tax.” Here what we know about he participant: Continue reading »
As you know, Wednesday night was a big night for Uncle Vik. Despite the fact that Jay-Z was a no show, Pandito had a ball while being honored at a gala dinner benefiting the New York Police & Fire Widows’ & Children’s Benefit Fund. During the charity auction part of the evening, the Citi CEO bid $9,000 for a day of training at the NYC Fire Department, which he very well could’ve selfishly used himself. Rather than being put through the paces, however, generous Vikram will said that he will be raffling off the prize to one very lucky Citi employee, so watch out for one of those massive lottery wheels in the lobby soon.
And that’s not all. Continue reading »
“Most things in investing are two-edged swords: if you do more of them, you’ll make more if they work but lose more if they don’t,” wrote Marks, chairman of Oaktree Capital Management LP in Los Angeles, who left his endowment post at Penn on June 30. [Bloomberg]
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