Tags: accounting, Brevan Howard, Chris Rokos, counter-countersuits
Chris Rokos and his former hedge fund, Brevan Howard, agree on one thing: He was a pretty good trader. The former thinks that the latter’s five-year non-compete is a travesty of justice depriving the world of his irreplaceable skills. The latter is so afraid of those skills that it wants Rokos to sit out every one of those 1,826 non-competitive days, hoping that each one will blunt Rokos’ acumen as much as he fears.
And, indeed, the numbers back it up: Rokos was good. Four billion dollars-plus good. At least until 2012 when he lost almost $400 million and “retired” from a firm where losing $400 million is as good as a letter of resignation. Read more »
Tags: Apple, inspired by The Jetsons, iWatch
Until it comes out, they’ll just have to settle for the 30% that Apple shares have appreciated since they started hording (and stopped selling) them. Read more »
Tags: American Apparel, Dov Charney, losing less money, Standard General
That or its relative Dov-Charneylessness. Or the thankless work put in by the old board. Or who the hell knows what? All Standard General knows is, things are looking up. Read more »
Tags: Bill Ackman, couldn't resist, damned if you do, Fannie Mae, Freddie Mac, Pershing Square
Between suing the government for taking all of the profits from two companies that it began taking all of the profits from more than a year before he bought 10% of each of them, and Friday morning, the Pershing Square Capital Management chief had another brilliant idea, and decided to sue the government again. Read more »
Tags: Douglas Haynes, Folger Hill Asset Management, from Nantucket no less, Gabriel Plotkin, its no Point72 but…, Sol Kumin, taking names, Tom Conheeney, who wants to put a bucks on Melvin Capital?
Please welcome our newest member, Tom Conheeney SAC ’99-’14! Tom, whom you all know very well, is joining the alumni association from Point72 Capital Management after having served faithfully alongside—not to say under the thumb of!—Steve Cohen for a decade and a half. And best of luck to future member Doug Haynes ’14. Read more »
Tags: John Paulson, Puerto Rico, who wouldn't want to work at AIG Plaza?
John Paulson is sticking to his story that he won’t be moving to the tax-friendly shores of the Singapore of the Caribbean. On the other hand, he’s just bought some pretty nice Class A space from Robert Benmosche to go along with all of those miles of beachfront on which he could conceivably live. Read more »