Jon Shazar

Posts by Jon Shazar

Dan Loeb Would Like That $1.4 Billion Back

Remember, back in October, when Dan Loeb announced that Third Point would be returning about 10% of the $14 billion it had, to “moderate” its growth or something? Well, that may have moderated things a little too much, and even though Third Point’s fat 6% return has it managing $15 billion seven months later after cutting those checks, Loeb is feeling inspired to write a few more letters, and needs a few more bucks to do so. Read more »

  • 30 Jul 2014 at 12:16 PM
  • Banks

Brian Moynihan Imposing His Own Sanctions On Russia

The amount of money Bank of America stands to lose if Vladimir Putin continues to be Vladimir Putin is getting smaller and smaller every quarter. Read more »

Argentina is lacking in many things: Sufficient reserves to pay its bills, for one. International goodwill, for another. The patience of a certain very important federal judge. Goals in the World Cup.

But Argentina is also a very rich country: Rich in beef, in the fruit of the vine, in natural resources, and, perhaps above all, in unique recalcitrance vis-à-vis hedge funds it owes money. Well, in a last-ditch and almost certainly too-late bid to avert a default that it says is not a default, Argentina has parted with some of that precious recalcitrance, at last deigning to have its people chat with Paul Singer’s people about getting out of this mess with other peoples’ money and rights. Read more »

  • 29 Jul 2014 at 5:00 PM

The Sky May Actually Be Falling

First this guy trots out the B-word and “worse than 1929 and almost as bad as 2000.” Then some other guy utters the C-word and suggests there may be some handsome returns in shorting an S&P 500 Index fund might be a good idea right about now. And then there’s the guy whose math predicted the ’87, ’00, ’07 and ’09 market events, and his numbers say, well, nothing good. Read more »

Nice as it is—and it is nice, what with the lily pond and apple orchard and Further Lane addresses (there are three) and “most expensive residential property in U.S. history” title—it turns out that Barry Rosenstein’s new $147 million, 18-acre East Hampton cabin didn’t exactly sell itself, or so alleges the man who says he sold it. Read more »

It’s not clear when it happened, exactly. It certainly wasn’t during the past few years of dicking around, ever confident in its ability to con one U.S. court or another into buying what it was selling. It wasn’t when Argentina started taking out all of those full-page newspaper ads or blaming the Obama administration for its refusal to pay its bills. It wasn’t even when the country decided that it had a week to wait to start talks with a court-appointed mediator just four weeks before D-day, or when it refused to budge from its “give us our stay or we’ll commit suicide” negotiating position or to have a chat with that awful Paul Singer. Indeed, as recently as last week, banks and investors were clamoring to get themselves a piece of the obviously-imminent settlement. I mean, who would be so stupid as to needlessly and recklessly send their already flatlining economy into a spiraling nosedive to save face? Read more »

Eight years after the great fisherman, Canadian and hedge fund trader who was thisclose to making a mint on a whole mess of natural-gas contracts but instead wound up losing $6.6 billion and putting an end to a plucky little shop called Amaranth Advisors, Brian Hunter may be appearing in New York federal court to defend his honor against allegations that he planned to make that mint by manipulating the natural gas markets. Read more »

  • 28 Jul 2014 at 3:45 PM

Cynk Short-Sellers Screwed Again

So why isn’t Cynk worthless again, as it was before Belize’s hottest stock was briefly worth $6 billion? Probably has something to do with Tom Laresca and other benighted short-sellers having to buy the thing they knew was a scam to cover their shorts. Read more »