If there’s one thing Jim Cramer taught Lenny Dysktra, it’s the value of a good endorsement for a good pal. Several years back Cramer spoke highly of Nails’ investing skills, telling HBO that the former ballplayer didn’t just have a knack for money managing but that he was “one of the greats” in this business. In the ensuing years, Dykstra got thrown out of his house, caught defecating on the floor, had his private planes repossessed, lived in a car and was accused of bouncing a check to a stripper but now he’s doing great, possibly thanks to Jim. In an effort to pay it forward, Dykstra is doing the same for his best bud, Charlie Sheen. Nails told reporters over the weekend that Sheen is “perfect,” among other things. Continue reading »
Archive for February 2011
Lenny Dykstra Takes Page From Jim Cramer’s Playabook, Endorses Charlie Sheen As A “F*cking Genius”
By Bess LevinSon Of Senator Starts Hedge Fund Out Of Dad’s Basement Following DE Shaw Summer Internship
By Bess LevinAfter he graduated from Columbia Business School last June, Adam Wyden probably had a bunch of offers to mull over from various employers. What he really wanted to do, though, was be a hedge fund manager. So he figured he’d just start his own shop, having the experience of trading stocks for his own account as Wharton undergrad (Class of ’06) and a summer internship with DE Shaw under his belt. Interested in getting a piece of the action? Continue reading »
Earlier this week in Sydney, the head of UBS’s institutional sales desk, George Kanaan, and executive director Mark Fitzgerald were “sent home” after a gentle shove by Kanaan in Fitzgerald’s direction “quickly escalated,” with the two being separated by colleagues. They were told to leave the building immediately and have not been allowed back since Tuesday. Continue reading »
$$$ The SEC has moved to quash speculation that its top lawyer decided to step down because he is being sued as part of a “clawback” lawsuit by the trustee seeking to recover assets on behalf of victims of Bernard Madoff’s fraud. The surprise decision by David Becker to return to the private sector, announced at the start of this month, caused widespread speculation within the agency. “It stunned everyone—we’re wondering what he knows that we don’t,” said one senior member of staff. The lawsuit seeks to recover assets from the estate of Mr. Becker’s mother, which allegedly received $1.54 million in fictitious profits from Mr. Madoff’s firm. [WSJ]
$$$ Abby Joseph Cohen: Opportunities Exist in Markets Spooked by Mideast [CNBC]
$$$ Former Third Point and Brahman Capital pros sets up hedge fund [HFMWeek]
$$$ Li’l Jon And Gary Busey To Appear As Contestants On The Apprentice [NBC] Continue reading »
Oh sure, total compensation was up on average but cash bonuses took a nice hit. Want to explain to Lloyd Blankfein et al how they’re supposed to strip naked and roll around in a bunch of company stock? Continue reading »
“The core of the American financial system is in a much stronger position than it was before the crisis,” Geithner said today during a Bloomberg Breakfast with reporters in Washington. “We can say with much more confidence now that the U.S. banking system and the U.S. capital market are much more likely to be in a position to finance the capital needs that come with a recovery,” Geithner said. [Bloomberg]
When a group of Duke University lacrosse students were wrongfully accused of sexually assaulting a stripper a few years back, did you watch from the sidelines, wracking your brain as to how you could somehow get in on the action? You probably didn’t want to be one of the main players but when the story came up in conversation you didn’t want to comment as simply someone who’d read about it. A bit role was all you needed- just enough to speak authoritatively, like an insider, and/or to assure a mention in the closing credits of some sort of made for TV movie. If you’re taxpaying citizen of the United States, today’s your lucky day. Continue reading »
Apparently they were unaware Swiss banks aren’t supposed to do that anymore. Continue reading »
Yesterday in the Economic Times (of India), the following advertisement ran touting the “golden shower” Sundaram Mutual wants to rain on investors. Continue reading »
CNBC Wants Some Serious Analysis Of What The Story About A Domino’s Delivery Person Saving A Customer Means For The Company
By Bess LevinFor those of you not up on your pizza delivery news, a Domino’s employee reportedly saved an elderly woman, after noticing that she’d failed to place her daily order for three days. Deliverywoman Susan Guy went to check on the lady and found that she’d fallen and was unable to reach the phone and call for help. CNBC wants to know how the market will react to the news and currently has a guest on who’s being forced to offer some real analysis (he thinks the story is going to lift sales). Continue reading »
People familiar with the firm say SAC Capital’s legal team actively discourages traders and analysts from using email, instant messages and other forms of communication that can leave a paper trail. The lack of email documentation at SAC Capital is something that has frustrated litigants over the years, according to people who have been involved in lawsuits and arbitrations with the fund. [Reuters, earlier]
