Mysterious ‘Batman’ of Wall Street is taking down fraudsters (NYP)
A 32-year-old Staten Island investor — who likens himself to the Caped Crusader, patrolling Gotham for corporate wrongdoing — has become the hottest Wall Street whiz of 2014. Daniel Yu, whose Gotham City Research is a tip of the cowl to his favorite comics character, has emerged as one of the Street’s most controversial figures as well. Yu, in lengthy short-selling reports, targets what he believes are frauds — and has taken down three European companies this year. The stocks of the companies have fallen an average of 76 percent. That makes him the year’s best short seller, according to an analysis by database ShortActivists, which tracks short sellers who make their research public.
Hedge Funds Seek to Tie Up Money for Longer (WSJ)
Two-thirds of new hedge funds demanded a lockup of one year or more in 2013, a 30% increase from the previous year, according to the most recent data available from research firm eVestment. The average fund has a lockup of 377 days, eVestment said. Those pushing for longer terms include funds managed by industry stalwarts like Fir Tree Inc., GoldenTree Asset Management LLC, Trian Fund Management LP and Viking Global Investors LP, said people with knowledge of the funds.
New Facebook Rules Will Sting Entrepreneurs (WSJ)
Chrisy Bossie built a $100,000-a-year gemstone e-commerce business by sharing information about her products on her company’s Facebook page several times a week. “Steals in the Shop! I have a TON of new 36-inch-long necklaces, most priced at $15, available in amethyst, lapis, watermelon tourmaline, turquoise…. Shop them all here,” she wrote in a recent marketing post on a Facebook page for Earthegy, the business she runs from her home in rural Kent Store, Va. She also included photos and links to the products, hoping the business’s 70,000 Facebook fans would share the posts with their own Facebook friends. But small-business owners like Ms. Bossie will soon get less benefit from the unpaid marketing pitches they post on Facebook. That’s because, as of mid-January, the social network will intensify its efforts to filter out unpaid promotional material in user news feeds that businesses have posted as status updates. The change will make it more difficult for entrepreneurs like Ms. Bossie, the founder of four-year-old Earthegy, to reach fans of their Facebook pages with marketing posts that aren’t paid advertising. Businesses that post free marketing pitches or reuse content from existing ads will suffer “a significant decrease in distribution,” Facebook warned in a post earlier this month announcing the coming change.
Shia LeBeouf: Woman raped me at gallery (NYP)
The “Fury” star made the surprising admission in a series of emails with a journalist from Dazed and said the incident took place during his #IAMSORRY event in Los Angeles. During the event in February, LaBeouf sat silently in a gallery for five days with a paper bag on his head and members of the public were invited to visit him, one by one, and spend some time with him. But not all of the public encounters were pleasant, according to LaBeouf. “One woman who came with her boyfriend, who was outside the door when this happened, whipped my legs for 10 minutes and then stripped my clothing and proceeded to rape me,” said LaBeouf in an email to the Dazed journalist. “There were hundreds of people in line when she walked out with disheveled hair and smudged lipstick. It was no good, not just for me but her man as well. “On top of that my girl was in line to see me, because it was Valentine’s Day and I was living in the gallery for the duration of the event — we were separated for five days, no communication. “So it really hurt her as well, as I guess the news of it traveled through the line.
Argentina Accuses HSBC of Aiding People in Tax Evasion (AP)
Argentina’s tax agency accused the HSBC bank on Thursday of helping more than 4,000 Argentines evade taxes by placing their money in secret Swiss accounts. The head of country’s AFIP tax agency, Ricardo Echegaray, said Argentine citizens had evaded about $3 billion in taxes that were handled by intermediaries through a network of offshore accounts. Mr. Echegaray contended that some of those accounts in Geneva were owned by HSBC Argentina’s president and other bank executives.
Too much makeup sex led to millionaire’s restraining order (NYP)
Breaking up is hard to do — especially when your girlfriend is a pretty brunette 20 years your junior. That’s what a Wall Street trader said Tuesday, explaining in Manhattan Family Court why — after several attempts to end the relationship only led to makeup sex — he got an order of protection against his gal pal of five years. “I attempted to break up several times and somehow was convinced not to,” multimillionaire private equity investor Brad Zipper, 50, admitted on the witness stand. The burly, 6-foot, 200-pound former hockey player glared at his petite ex, Nicole Raef, 28, from the witness stand, admitting “nobody forced” him to stay in the relationship. Zipper even said he “laid in the same bed” with his girlfriend just days before filing an order of protection against her in September, but claimed amnesia when he was asked by Raef’s lawyer if the two had sex on that occasion. “On Sept. 5, did you sleep in the same bed with her?” Raef’s attorney, Brett Kimmel, asked. “I laid in the same bed with her at some point, I think,” a blushing Zipper said. “Did you engage in sexual intercourse with her?” Kimmel pressed. “I don’t recall,” Zipper said…Kimmel said he was trying to understand why Zipper didn’t end things then if Raef had acted as crazy as he has alleged — setting his oven on fire in 2012 and dousing his electronics with water. Read more »