Tags: Anastasios “Tommy” Belesis, boiler rooms, John Thomas Financial, Thomas Belesis, time-outs
Anastasios “Tommy” Belesis, he of John Thomas Financial, of “Give me just 1% of your trust and confidence and I will earn the other 99%“, of not letting junior brokers sit down, of using Rocky to get pumped up for cold calls, of screening Boiler Room at the office, of sending employees who show up to work sporting stubble to the men’s room to shave, of “f–k you, you’re done in this business, you’re done in this business, get the f–k out of here“, and of threatening to run someone over “in the street“, has been barred from the brokerage industry for 1 year, at which time he’ll have to reapply.
Technically, he could tap on the window of various brokerage shops, gesture for someone, anyone to come over, and then threaten to run them over; he could text brokers he used to work with and tell them they’d better look both ways; but he won’t be doing any of these things in an official capacity. In the meantime, he’ll have to keep his game sharp by threatening to gun it over the waiter who moves at a glacial place bringing him his jack and coke, his neighbor who dares to bring up the matter of Belesis’s toy poodle constantly shitting on everyone else’s lawn, and Oliver Stone, whose movies he’ll now have much more time to appear in but who will make the mistake of asking Belesis to pay for his method acting classes out of his own pocket. Read more »
Tags: Carmen Electra, James A. Philbrook, pay-per-view programming, prison, scams
For one Maine couple, the allure of James Philbrook’s pitch proved too irresistible. In fairness to Philbrook, the money the scam generated in part went to paying off the debts of a buddy’s kid who also struggled with staying on the right side of the law. As for the selection of Electra, one can hardly quibble with a line of thinking that went “I saw this hot young thing on a TV Guide in the mid-1990s.” Read more »
Tags: head-scratchers, Marissa Mayer, Marissa World, Yahoo
But a glittering surface often deflects attention from a messier reality, and that’s true with Mayer and Yahoo. No one wants to sound as if they aren’t rooting for Yahoo or for her, and because Mayer didn’t cooperate for this article, even her friends were often unwilling to speak on the record about her. She’s anything but easy to categorize, in ways that are both interesting and possibly troubling for Yahoo’s future. “She is a confusing person,” says someone who has worked with her closely. “It is a mistake to paint her as an angel or as a devil.” Another executive who worked with her agrees that she is a hard person to understand. “There are some parts of Marissa World that are just inexplicably weird,” he says. “It doesn’t add up.” [Vanity Fair, related]
Tags: Hedge Funds, insider-trading, Jon Horvath, Michael Steinberg, niceties, SAC Capital
Earlier in the day, before Mr. Berke began his cross-examination, Mr. Horvath testified that after Diamondback and two other hedge funds were raided by federal authorities in fall 2010, Mr. Steinberg coached him about how to talk to the Federal Bureau of Investigation if approached by any agents. Mr. Horvath said his former boss told him if the F.B.I. asks about the kind of information Mr. Tortora provided on Dell, just say it was “O.K.” Mr. Horvath said Mr. Steinberg flew to a conference he was attending in Arizona to personally deliver that message. “He just walked straight up to me,” Mr. Horvath said, adding that his then boss didn’t even say hello before bringing up the F.B.I. [Dealbook]
Tags: FYIs, IBD, investment banking, Layoffs
Deustche Bank is out with a report today encouraging I-bankers to gird their loins. Read more »
Tags: check yourselves, Goldman Sachs, London
Goldman Sachs has said it would move much of its European business out of London if Britain leaves the European Union. The warning from the world’s most powerful investment bank comes as political pressure for Britain to leave the EU mounts. David Cameron has committed to holding a referendum on Britain’s membership if the Conservatives win the next election and some Tory MPs have been agitating for an early vote on the matter. Michael Sherwood, co-chief executive of Goldman Sachs International, said: “In all likelihood we would transfer a substantial part of our European business from London to a eurozone location – the most obvious contenders being Paris and Frankfurt.” [Guardian via Heidi Moore]
Tags: calculations, Capitol Securities Management, Dick Bové, Kent Engelke, Obama, predictions
Here’s Kent Engelke, explaining the math he used to come up with that prediction. Take the 7% of presidents who have been impeached or resigned, ignore the fact that 0% of impeached presidents have actually been removed from office, then add 3%, just for the hell of it.
“If ObamaCare is the fiasco that some headlines are suggesting it is, I place the odds around 10% the president will resign before next November’s election,” said Kent Engelke, managing director at the brokerage Capitol Securities Management. Engelke, who has more than 27 years of experience in the securities industry, says he got the 10% number from a simple calculation: 7% of all U.S. presidents faced impeachment or resignation (Presidents Andrew Johnson and Bill Clinton were impeached, while President Nixon resigned). He adds in another 3% due to the heightened animosity between president Obama and Republicans in congress.
And here’s Dick Bové, acting as the voice of reason on this one. Read more »