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Alan Schwartz Has Move On From Bear Stearns And Suggests You Do The Same

A pair of BSAM’s most successful hedge funds were run by Ralph Cioffi, one of the firm’s top traders, and Matthew Tannin. The funds traded in the kinds of exotic assets Mr. Marin and Bear Stearns were experts in, collateralized debt obligations. When the housing market on which these bundles of mortgages were based seized up, the funds tanked and Bear Stearns had to spend $3.2 billion bailing them out, the second-largest intervention in Wall Street history (though it would pale in comparison to what was coming). When asked about these events, and how Mr. Marin comported himself, Mr. Schwartz was insistent. “I do not want to talk about that,” he said from his car Tuesday morning, on the way to a meeting. “If you want to talk about the ferris wheel and Rich, great. Every article doesn’t have to be dredging up what happened at Bear Stearns. Rich is a good guy, a creative guy, a good business man. I don’t want to reminisce about what happened at that time. It’s frankly a disservice to drag it back up.” [NYO]

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14 Responses to “Alan Schwartz Has Move On From Bear Stearns And Suggests You Do The Same”

  1. PermaGuestII says:

    Ferris wheel? Did Marin get negged from a carnival ride for exceeding the weight limit or something?

  2. guest says:

    No, believe he had too much Big Chief before the ride…THAAAAAA BEST

    – smalls

  3. Alanay Artzschway says:

    Igpay-Atinlay ailfay

  4. Guest says:

    Worked under Marin at BSAM for around 4 yrs or so. By eliminating big chunks of fee-based businesses & focusing solely on riskier hedge fund strategies he didn't truly understand, and pushing to grow everything very aggressively, he got the outcome he was asking for.

  5. Gene says:

    I'd be doing myself a disservice, and every member of BSAM of we don't build the hell out of this ferris wheel!

  6. Guest says:

    "I'm not touchy YOU"RE touchy" is an epic tag

  7. NcwKAl I truly appreciate this blog article. Really Cool.