• 28 Nov 2011 at 3:58 PM

Powerball Officials Finally Smoke Assset Manager Winners Out Of Their Hole

By Bess Levin

Is this a press conference to discuss winning $254 million or donating that much to Jerry Sandusky's 'rainy day fund'?

Connecticut residents Gregg, Brandon, and Tim were initially bashful about coming forward.

Three asset managers from Connecticut’s affluent New York suburbs claimed a $254 million Powerball jackpot on Monday off a $1 ticket. Gregg Skidmore, Brandon Lacoff and Tim Davidson came forward as trustees for The Putnam Avenue Family Trust, which they formed after Davidson bought the winning ticket at a Stamford gas station. At least two of them live in Greenwich, one of America’s wealthiest towns. They will take the after-tax lump sum of nearly $104 million in cash. They say a significant portion will go to charity. Davidson bought the $1 quick pick ticket for the Nov. 2 drawing at the Shippan Point Getty station in Stamford. It was the only ticket he bought. The winning numbers were 12-14-34-39-46, Powerball 36.

The three men work at a small, startup asset management firm called Bell Asset Management in Greenwich. They appeared with their lawyer at a news conference and didn’t say much. “It feels good,” Skidmore said. Lottery officials had used billboards across the state to urge the ticket holder to come forward as the weeks went by without a winner.

In related news, how long before someone runs out for a boatload of scratch-offs?

Gregg Skidmore, Brandon Lacoff, Tim Davidson at Bell Asset Management in Greenwich win Powerball [AP]
$254 million Powerball jackpot goes to wealthy Greenwich, Conn., money managers [NYDN]

Comments (27)

  1. 1
    Posted by Guest | November 28, 2011 at 4:04 PM

    lottery ticket > taxi medallion > lightsquared shares

  2. 2
    Posted by 2_Small_2_Bail | November 28, 2011 at 4:07 PM

    So much liquidity… *sigh*

    -P Falcone

  3. 3
    Posted by derp | November 28, 2011 at 4:12 PM

    Can't wait to use my winnings to buy another g!

    -Gregg (Soon to be Greggg!)

  4. 4
    Posted by Guest | November 28, 2011 at 4:14 PM

    The IRS thanks them for their contribution toward the Federal budget, and urges them to be wise in the use of the $7.02 that will be left after Federal and state taxes are paid, and urges them to not spend it all in one place.

  5. 5
    Posted by Deleveraging | November 28, 2011 at 4:15 PM

    So I guess we are not going to be reading some pathetic story 3 years from now about these guys going bankrupt after pissing all the money on the trappings of a white trash lifestyle?

  6. 6
    Posted by guest | November 28, 2011 at 4:18 PM

    No, you will.

    -Greg with two G's

  7. 7
    Posted by Fixed Income | November 28, 2011 at 4:19 PM

    Hey guys – any interest in being my Queen?

    - Roy Ageloff

  8. 8
    Posted by Guest | November 28, 2011 at 4:28 PM

    The after-tax lump sum payment is $104 million.

  9. 9
    Posted by Twihard Retard | November 28, 2011 at 4:28 PM

    You can be mine.

    - Ping

  10. 10
    Posted by AIG FP Quant | November 28, 2011 at 4:35 PM

    Just think, if they had bought 2 tickets they would've won twice as much money.

  11. 11
    Posted by Dr_Zaius | November 28, 2011 at 4:41 PM

    “'It feels good,' Skidmore said."

    solid Matt Levine impression.

  12. 12
    Posted by Eggs in 1 basket | November 28, 2011 at 4:50 PM

    In other news, Bell Asset Management's ADV has been revised to reflect new Assets Under Management of $5,000,001

  13. 13
    Posted by OWS | November 28, 2011 at 4:55 PM

    Is $1/$254,000,000 < 1%?

  14. 14
    Posted by Yakov | November 28, 2011 at 4:55 PM

    At Bell Asset Management, your best client is you!

  15. 15
    Posted by Dr_Zaius | November 28, 2011 at 5:00 PM

    really? i thought the joke was pretty brief.

  16. 16
    Posted by PMCO/1+(1-Tc)x(D/E) | November 28, 2011 at 5:08 PM

    brief, but definitely good.

  17. 17
    Posted by guest | November 28, 2011 at 5:12 PM

    Next Beamer's Third Thursday on these guys!

  18. 18
    Posted by Girl who's faking it | November 28, 2011 at 5:12 PM

    "It feels good"

    O RLY?

  19. 19
    Posted by contango | November 28, 2011 at 5:16 PM

    false..belponte capital…80M AUM with ridiculous head count…not to mention the numerous UBS alumni

  20. 20
    Posted by momentus | November 28, 2011 at 5:41 PM

    Fuck these guys!

    –toothless Appalachian hill billy

  21. 21
    Posted by Guest | November 28, 2011 at 6:21 PM

    Occupy Shippan Point Getty!

    UBS Civic Layaway Quant

  22. 22
    Posted by Guest | November 28, 2011 at 10:32 PM

    Thanks, 1%, for now stealing my dreams as well.

    -Harlem

  23. 23
    Posted by Anonymous | November 29, 2011 at 7:46 AM

    I Just thank God that you guys came forward and claimed it because the Government shouldn’t get it. Please make sure that you guys really make a difference in people who really needs help lives and not just the one who want the latest cars. God Bless.

  24. 24
    Posted by lol wut | November 29, 2011 at 8:33 AM

    Somewhere an occupy wall street protester is crying in their tent.

  25. 25
    Posted by Serg | November 29, 2011 at 9:53 AM

    nice use of a UBS slur

  26. 26
    Posted by OWS | November 29, 2011 at 10:16 AM

    karma

  27. 27
    Posted by Echo | November 29, 2011 at 1:02 PM

    That was happening anyway.

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