Hedge Funds

Bonus Watch ’14/Layoffs Watch ‘15: Hedge Funds

Hedge funds did a spectacular job not making money last year. That translates into a 30% drop in profit for the industry in 2014. And that translates into 60% drop in the bonus pool. And that, for those of you working at smaller hedge funds, is the good news. Read more »

Dan Loeb’s Agenting Skills Eclipse His Investing Ones

No regrets.A few years ago, Chris Kyle, the decorated sniper, taught the Third Point founder how to shoot. The two unlikely buddies met through Loeb’s fellow hedge fund manager, Kyle Bass, where Chris Kyle served as houseguest and shooting instructor, because all hedge fund managers should have live-in shooting instructors. In any event, Loeb took a shine to young Kyle, especially after reading his book, American Sniper. Loeb thought it would make a great movie, and so it has, at least according to the Academy of Motion Picture Arts and Sciences and the moviegoers who have spent $250 million to see it over the past month.

Dan Loeb could have had a piece of that impressive action: For introducing Kyle to a high-school buddy who produced the movie, Loeb had a chance to invest $250,000 in it. He chose to invest a more modest sum in Kyle’s tactical-training company—which has not produced quite the same returns. Read more »

Can't say enough good things about this guy.

Can’t say enough good things about this guy.

Raw performance figures failing to adequately capture the scale of Ackman awesomeness for you? His status as an autograph-signing celebrity still not quite illustrative enough? Require, perhaps, a dollar figure? Or a ranking that shows the Pershing Square chief taking his rightful place among the GREATEST HEDGE FUND MANAGERS OF ALL TIME? We can do that for you. Read more »

Has Point72's crack renaming team working on a less-prejudicial term.

Has Point72’s crack renaming team working on a less-prejudicial term.

Which Steve is OK with, just as long as you don’t use the “V” word. Read more »

No One Trashes Louis Bacon For 10 Years And Gets Away With It

Ready to wipe that smile off his face.

Ready to wipe that smile off his face.

For a decade, Moore Capital Management founder Louis Bacon has endured smear after smear on the part of his Bahamas neighbor, Canadian fashion mogul Peter Nygard: That he’s a racist, and possibly even a top-secret Grand Wizard of the KKK. That he’s a narcotics kingpin. That he’s trying to take over the government of the Bahamas. That he tried to burn Nygard’s somewhat less-than-tasteful Lyford Cay estate to the ground. That he’s employed “military-grade” loudspeakers to try to kill him, or at least to annoy him. That he has actually killed someone else. All because he’s either (a) trying to protect the exclusive enclave’s fragile ecosystem from Nygard’s planned 150,000-square-foot Mayan-style personal resort or (b) because he’s trying to force Nygard out of the Bahamas so that he can have Nygard Cay all to himself.

Well, Bacon’s finally had enough, and wants Nygard to cough up $50 million—coincidentally, the budget for the reconstruction of Nygard Cay following the fire that Bacon’s underlings set mysterious blaze in 2009 that destroyed the place—for saying all that stuff. Read more »

George Soros Is Feeling A Little Blue

Don't sulk, George.George Soros has been spotted in one of his natural habitats, a certain Swiss ski resort in late January. But have these days in Davos brought a smile to the 84-year-old’s face? The parties, the hob-nobbing, the receipt of genuflections that he lives for? Have they hell. If anything, they’ve turned him into fellow Davos man Paul Singer. For all George Soros wants in his declining years, in addition to a wife half his age, is some fun in the markets, an opportunity to do one last great thing that makes him an Alp-sized pile of money. In this, George Soros fears he is to be disappointed. Read more »

Hedge Fund Guy Can Manage Your Money In His Sleep

Lids are looking a little heavy.

Lids are looking a little heavy.

And he does! When Guy Spier isn’t spending $650K to lunch with Warren Buffett or checking his many, many iPhones, you may be able to find him in his nap room/”library,” where he tries to spend as much time as he possibly can. Read more »

Will No One Heed Paul Singer’s Clarion Call?

You'll all be sorry. You'll see.

You’ll all be sorry. You’ll see.

Paul Singer has not been shy about expressing his feelings about the Federal Reserve. In effect, the hedge-fund billionaire’s argument is that quantitative easing is the root of all evil in the world and must be stopped.

Well, even though the Fed has stopped buying bonds, Paul Singer is not satisfied that he has been heard. And so he’s taken his message to Davos. Alas, no one appears to be listening on that side of the Atlantic, either. Read more »