And this bitch be talking shit. Continue reading »
Archive for March 2011
Confidential To Anyone Starting A Hedge Fund: Harry Markopolos Protégé Neil Chelo Will Make You Wish You Were Never Born
By Bess Levin
If anyone out there is considering starting a hedge fund, there’s a few things you should know. Don’t want to scare anyone but…okay we’re just going to come out and say it- according to reports, “gone are the days when a trader could leave some Wall Street firm with a few of his buddies, snap his fingers and raise several hundred million dollars overnight.” Now, you might have to spend six months to a year raising money and not only that? You’re going to have to make it through several rounds of due diligence by potential investors. You may also have to come face to face with a guy named Neil Chelo who some people (Neil) like to call The Enforcer. Continue reading »
A number of new positions have recently come up at the former Morgan Stanley exec’s firm, (potentially) including that of CFO. If that doesn’t tickle your fancy Voras Capital Management is also in need of a couple of traders and a head of IR. Continue reading »
RBS Chief Stephen Hester May Not Have Been Briefed On Fellow CEOs Bonuses When He Defended His £7.7M One By Saying It Was “At The Low End Of Comparable Jobs”
By Bess Levin
RBS CEO Stephen Hester was recently asked by Parliament to defend his bonus for 2011, which clocked in at around £7.7m. Some might argue the Brits had the right to do so in light of the fact that about 82 percent of the bank is owned by the government. The two sides brought slightly different opinions to the table, Hester being of the mind that the his paycheck was well-deserved, and the MP’s being in strong disagreement, given that RBS recently reported net losses for a third consecutive year.
Things got quite heated, with Labour MP Austin Mitchell asking, “What have you done for £7.7m? Is it that you produced an outstanding enormous profit for the bank, or is it because you are a greedy banker?” Hester, taking umbrage at the suggestion that a) he didn’t earn every pound of his package and that b) he was in anyway greedy sought fit to lay some truth on Mitchell and Co’s asses, telling them his number was “at the low end of comparable jobs in the UK and globally.” An interesting theory! Continue reading »
Last Chance To Sign Up For The Dealbreaker First Annual NCAA Tournament Challenge (Plus Some Tips)
By Bess LevinFeel free to ignore this message if you hate (circle as many as apply): Peter Luger, Patagonia, Stamford/CT, and buttons that read “I violently love Dealbreaker.” Continue reading »
Again, just one of those things I thought you needed to know. Unlike Pappajohn Capital and the Misfit Barbarian Fund, however, this name is now up for grabs, as the firm and its partners have been sued by the SEC. In the likely event they must close up shop, this baby’s yours! Continue reading »
Raj Rajaratnam Defense Argues Anil Kumar Was Paid $1 Million Per Year For “Legitimate” Work
By Bess LevinKumar was just doing “consulting” work for Raj, okay? Continue reading »
Effective today, the contents of her desk suggest. Continue reading »
Twenty-Something New Yorkers No Longer Interested In Sex, Declares Reporter Whose Theory Is Backed Up By Hedge Fund Employee
By Bess LevinRecently, a reporter for the Observer went to a few bars and attended what can be called parties under the loosest definition of the term ‘party’ (“A girl sitting next to a Harvard M.B.A. student looked through a coffee table book of Todd Selby’s photography. There was a conversation going on about Twitter.”). No one had sex in front of him and so he has naturally decided that twenty-something professionals in New York are no longer interested in fornicating. A bunch of sources interviewed for the story who are not having sex, they say by choice, cite several factors for the ‘careerists,’ male and female, no longer caring about getting laid. Continue reading »
According to an email circulating from Christopher Harvey, JPMorgan’s “Senior Country Officer in Japan,” to colleagues. Continue reading »
Foreign Banks With Offices In Japan Demonstrate Amazing Pulse Of What’s Going On Over There
By Bess LevinNo, just messing they either have no idea, are baldfaced liars or have a broad definition of what constitutes ‘business as usual.’ Continue reading »
