• Hedge Funds

    If You Should Happen To Run In To Carl Icahn…

    At Marea, perhaps. Or in a rough-and-tumble Queens schoolyard. Or at a hedge-fund conference. Or on Twitter. Wherever. A word to the wise: Don’t try to break the ice with a crack about certain insider-trading investigations involving Uncle Carl and certain famed golfers.

    / Jul 18, 2014 at 1:09 PM
  • carlicahnmartini


    If You’re Fishing For A Compliment From Carl Icahn, Consider Getting Him Nice And Liquored Up First

    Last night, in an interview with CNBC, Carl Icahn had this to say about fellow hedge fund manager Bill Ackman and his recent bid with drugmaker Valiant Pharmaceuticals for Botox maker Allergan: “We have our differences, but I never said he’s not a smart guy. I think the concept of this is good. I hope […]

    / Apr 23, 2014 at 4:37 PM
  • jamiedimonconferenceroom


    Jamie Dimon: JPMorgan Needs To Speak Less/Listen More, Pay Better Attention To Competitors’ F*ck Ups

    JPMorgan Chase & Co., the biggest U.S. bank by assets, had a “tin ear” when dealing with regulators before settling probes into mortgage lapses and trading losses, Chief Executive Officer Jamie Dimon said. “Our response generally was, ‘We know what we’re doing,’” Dimon wrote today in a letter to the New York-based bank’s investors. “Well, […]

    / Apr 9, 2014 at 5:19 PM
  • Richard-Kirshenbaum


    Area Love Guru Suggests Rich Divorcées Face Facts And Bag Themselves A Pool Boy

    I was at my usual banquette table at Cipriani catching up with my dear friend and fellow gala charity chair, an impossibly blond and glamorous socialite. She looked up, over her grilled salmon and leeks. “Do you have anyone for my friend Leanne? Her divorce just became final.” I recalled a lithe brunette who looked […]

    / Jun 26, 2013 at 3:23 PM
  • dickparsons


    Richard Parsons: So You Want To Start Your Own Vineyard

    “You’re a farmer. You can’t control the weather. When you make a Brunello, you have to follow a set of rules. One is no interference with nature. You can’t irrigate in a dry year. I happen to like traditional methods. I’m kind of old school. If you’re someone who balks at following rules, you can […]

    / Apr 11, 2013 at 6:19 PM
  • billackmanpershingsquare (1)


    Bill Ackman Is Saying This Because He Cares: Just Because They Make Pants With 52-Inch Waists Doesn’t Mean You Need To Aspire To Wear Them

    As has been discussed at length in the past, should hedge fund manager Bill Ackman ever decide to take up a new line of work, he would no doubt have a bright future hosting a guerrilla-style makeover show wherein he and a sidekick drive around in a van looking for people who could benefit from his discerning eye and then ambush them on the street and weigh in on what’s wrong with their [choose all that apply: bangs/clothes/arms/ass/life in general].a Although not classically trained, the Pershing Square founder has years of experience, dating all the way back to his days as a Harvard Business School student, when fellow classmates were asked if streetwalker was the look they were going for.

    / Apr 2, 2013 at 12:45 PM
  • georgesoros


    George Soros Hearkens Back To A Time When Men Were Men, Women Were Women, And Hedge Funds Were A Good Idea

    Speaking to Bloomberg Television at the World Economic Forum in Davos, Switzerland, George Soros cast doubt on hedge funds’ future ability to do better than the broader markets. “Since hedge funds are now a dominant force in the market, they can’t, as a group, outperform the market,” Soros said. The 82-year old added that managers’ […]

    / Jan 30, 2013 at 3:14 PM
  • johnpaulsonpaulsonandco


    John Paulson: Go Out And Get Your Dream House Today

    Speaking to an audience at Manhattan’s 92nd Street Y Tuesday night, Paulson said the housing market had shown a “strong recovery” with prices up and the number of homes for sale at a decade low. Those factors will likely put pressure on builders to create new product, he noted, creating some of the “most positive […]

    / Jan 23, 2013 at 1:26 PM
  • News

    Citigroup Now Fancying Itself Too Good For SAC Capital


    / Dec 5, 2012 at 1:27 PM
  • News

    Robert Benmosche Is Pretty Sure People Angry At AIG Re: Bailouts Sit At Home Thinking, “Look at them, with their free EZ Passes”

    “People are angry because they want to blame somebody else. They don’t take responsibility for their own goddamn lives. ‘I’ve never been promoted, because they don’t like me and there were these guys at AIG, look at them they have free lunches and EZ Pass and look at me I don’t get a free lunch.’ […]

    / Oct 23, 2012 at 7:34 PM
  • News

    Phil Falcone Will Borrow Hundreds Of Millions Of Dollars From Any Gated Investor Fund He Pleases

    Phil Falcone, as some of you may know, has made some mistakes in the last couple years. Pouring his investors’ money into a wireless start-up that may or may not ever get off the ground. Offering those who wanted out illiquid LightSquared equity instead of cash. Not getting his wife a driver for party-time.  If you’re wondering why we haven’t mentioned the time he borrowed $113 million from a gated fund in order to pay personal taxes, which he had not set aside enough money to cover, it’s because Phil doesn’t count it as a mistake, regardless of what you, or the SEC, or anyone else says.

    Hedge-fund manager Philip Falcone and his firm, Harbinger Capital Partners LLC, formally signaled their intent to seek the dismissal of fraud charges filed against them earlier this year by securities regulators, according to people familiar with the case. In June, the Securities and Exchange Commission filed civil charges accusing Mr. Falcone of putting his own interests, including maintaining a “lavish lifestyle,” ahead of those of Harbinger’s investors. The agency accused Mr. Falcone, Harbinger and Harbinger’s former operating chief, Peter Jenson, of misleading investors and an outside law firm when Mr. Falcone took out a $113.2 million loan in 2009 from a Harbinger fund to pay his personal taxes, even as other investors in the fund were prevented from pulling their money.

    Lawyers for Mr. Falcone and Harbinger sent a letter to Judge Paul Crotty of U.S. District Court in Manhattan Friday, the deadline for responding to the SEC’s complaint, saying they intended to seek dismissal, the people said. The letter also summarized arguments for the dismissal. Mr. Jenson also filed a letter Friday through his lawyers saying he intended to seek dismissal of the complaint. Representatives of Mr. Falcone and Harbinger have said before they planned to fight the allegations. In negotiations with securities regulators leading up to the charges, they had argued that Mr. Falcone and Harbinger were simply following sound advice from their legal counsel.

    Which, for those who missed it, was: “[L]ending money to principals is not part of the fund’s investment program” and “a loan . . . will never be a good idea” and “[We are] unequivocally against the loan idea for a number of reasons.”

    Falcone To Seek Case’s Dismissal [WSJ]
    Earlier: Phil Falcone’s Alleged Piggish Behavior Made Him Some Enemies

    / Oct 1, 2012 at 3:08 PM
  • News

    What Do You Think Of This, Dealbreaker: Help Us Help You

    On an alarmingly regular basis, people send emails to Dealbreaker seeking insight, on all manners of business. “I just received an offer from [insert hedge fund here] and I wanted to know what you think of the place.” “I’m a high-yield trader looking to jump ship– do you have any leads on jobs or ideas […]

    / Mar 22, 2012 at 5:53 PM
  • Communiqués

    Dan Loeb Counsels Yahoo To Do The Right Thing

    December 13, 2011 Board of Directors Yahoo! Inc. 701 First Avenue Sunnyvale, CA 94089 Attention: Mr. Roy Bostock, Chairman Dear Directors: Third Point LLC, as the beneficial owner of 5.2% of Yahoo! Inc.’s (“Yahoo”) outstanding shares, remains extremely troubled by news reports regarding the dysfunction and inequity being exhibited in the process of maximizing stockholder […]

    / Dec 13, 2011 at 6:15 PM
  • News

    Mike Bloomberg: You Can Take Unlimited Bathroom Breaks Or You Can Actually Make Something Of Yourself. Your Call.

    Maybe you’re a first-year analyst at Goldman Sachs who’d like to run the place. Maybe you’re a SAC trader who wants to be the next Steve. Maybe you’re the CEO of JPMorgan, though you’d prefer the title of Mr. Treasury Secretary. Maybe you’re a mega successful hedge fund manager who dreams of breeding dogs and, […]

    / Nov 30, 2011 at 6:38 PM
  • News

    Analyst Who Fears His “Overly Muscular Stature” Won’t Work For Wall Street Seeks Advice

    Earlier this week, a young financial services employee posed a question to the universe about a problem vis-à-vis size. He wrote: I have a serious question for all of you. I am a rather large man (both in stature and in the pants.) I played D1 football as an offensive lineman. I am currently 6’1, […]

    / Oct 20, 2011 at 11:31 AM
  • News

    Corker Calmer Than You Are On The Whole ‘Debt Ceiling Issue’

    Earlier this morning, Senator Corker stopped by Squawk Box to talk about the August 2 second debt ceiling deadline, and the Congressional consensus that feels like it’s never gonna come. Bob’s advice? People need to relax. “If I were all you,” the Senator told Melissa Lee and Carl Quinatilla, “I would sort of chill on […]

    / Jul 25, 2011 at 3:52 PM

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