Hedge Funds

Would he go so far as to describe his fellow hedge fund manager’s business tactics as hostage situation-esque? Yes, yes he would. Read more »

Allegations of securities fraud are apparently no reason to slip out of one’s tank top, according to Michael Dupre Lucarelli, seen at left leaving federal court yesterday. Read more »

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 »

  • 21 Aug 2014 at 3:58 PM

Steve Cohen Betting On Steve Cohen

Now, people close to Cohen say he has quietly and methodically launched a multi-pronged effort to eventually make his full return to the hedge fund business, even if many legal experts say the odds are low that he will prevail. “I would say Steven Cohen’s chances are about as good as Michael Milken’s would be” for returning the securities business, said Columbia Law School professor John Coffee, referring to the tarnished junk bond pioneer. Still, Coffee added, “a lifetime ban allows you to reapply five years later for readmission,” meaning it’s not impossible. [FBN]

School is in session. Read more »

Wait! Bill Ackman Has Something Else To Say!

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 »

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 »

Judge Wants To Check SEC’s Back-Of-The-Envelope Math

Victor Marrero’s not so sure that the regulator was sufficiently scientific in calculating exactly how much Point72 Asset Management née SAC Capital Advisors owes to the universe (and Elan and Wyeth shareholders) for its extraordinarily lucrative bit of insider trading. Read more »