Tags: books, glass eyes, Greg Zuckerman, inspirations, shaving mishaps, subprime, The Greatest Trade Ever, weed
You probably didn’t know it but the Jabroni Pony isn’t the only one with a new book on the financial crisis coming out today. Wall Street Journal reporter Greg Zuckerman’s got one, too (though his does not include promotion that involves being shot out of a cannon, naked, at the closing bell). While CG’s tome, which chronicles the fuck-ups of many a CEO, serves as a helpful guide on what not to do if you’re looking to avoid blowing up Wall Street, Zuckerman’s book, The Greatest Trade Ever, chronicles the stories of a bunch of guys who actually made money off that can’t lose asset class, subprime. But it wasn’t all rolling around in sticky fifties from the get-go. Daily Intel runs through the book’s subjects, and the adversity they had to overcome, before doing stuff like making $15 billion in one year, and writing a fuck-off letter to the industry, lobbying for the legalizing of weed. Take heart: even if you lack the motor skills to properly shave yourself, you could be the next John Paulson:
At times, [pre-king of the world] Paulson didn’t seem completely put together. When Brad Balter, a young broker, came to visit, Paulson chain-smoked cigarettes and had spots of blood on his shirt collar from a shaving mishap. Paulson’s head of marketing was stretched out in agony on a nearby couch, moaning about his back.
“I didn’t know what to think. It was a little surreal,” Balter recalls.
At times, Paulson became discouraged. His early investment performance was good but uneven, and he continued to have few clients. He was sure of his abilities but questioned whether he could make the fund a success.
One especially glum day, Paulson asked his father, “Am I in the wrong business? Is something wrong with me? “It was hard to be rejected, it was a lonely period,” Paulson recalls.
Also featured: the guy with the glass eye (Michael Burry), the guy who was known for his “unusually thick sideburns” (Greg Lippman), and everyone’s favorite burnout (Andrew Ladhe).
Bad News Bears: The Guys Who Bet Against The Subprime Bubble And Won [Daily Intel]
Tags: Andrew Ross Sorkin, books, Charlie Gasparino, take this seriously
From the mailbag:
Spotted Andrew Ross Sorkin at a bookstore in Penn Station berating a young clerk for not carrying more copies of his book, “Too Big To Fail.”
He actually said quite loudly: “Dude, you need to carry like a 100 copies of that book. It’s gonna be huge!”
Sorkin has yet get back to us with a comment on the account, and while it doesn’t really seem very in character for the DealBook editor to be making such a spectacle (in public), you can’t deny that he’s right to fight for the guy who just wants to get a gripping account of the shit that went down last year over a few rounds at the Houlihan’s bar, or in the station’s lush new accomodations. One thing you can be sure of is this:
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Tags: books, feuds, Jew v. Jabroni, Lloyd Blankfein is a friend of mine
Yesterday we discussed the fact that Andrew Ross Sorkin’s new book mentions that during last year’s crisis, Lloyd Blankfein started boycotting CNBC (by turning his TV off), on account of “rumor-mongering” by Charlie Gasparino. Chaz conceded that while LB might’ve been unhappy with his ace reporting, the Goldman CEO never uttered the filthy term in connection with CG’s name, or even thought it. Knowing Gaspo, we figured he’d solve this problem the way he solves all his problems, namely with the busting of knee caps and the suggestion that ARS is the perfect size to fit in the trunk of a Buick. Unfortunately he’s apparently been advised to keep the brass knuckles in his dresser drawer for the time being, and has instead sought legal counsel to deal with “this guy.”
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Tags: books, Caxton, Goldman Sachs
Former Caxton-Iseman Capital assistant Fatima Monahan pleaded guilty yesterday to using C-IC founder Frederick Iseman’s credit card on high-end clothing, shoes, food, household items and gift cards in 2006, and was ordered to pay $45,000 in restitution. Monahan filed a $24 million sexual harassment suit against Iseman and the firm last April, in a possible attempt to deflect attention from her own wrongdoings.
In the civil suit, Monahan claims Iseman “told her of intimate acts he had with several women, directed her to make inappropriate purchases, required her to organize his collection of explicit pictures, and to purchase and deliver to his apartment a book titled “The Mammoth Book of Erotic Fantasies.” (Not to be confused with “The Erotic Book of Mammoth Fantasies,” a favorite of Lloyd Blankfein and required reading of all new hires. And speaking of wooly mammoths, Joe Torre has a blog about his new life in L.A. The second entry, from August 17, is an observation on dogs. It closes with the line, “Okay, gotta run. I need to get Butch to the groomer’s before his hair starts getting poufy,” ‘Butch’ being a euphemism for the Torre unit).
Woman Who Sued Caxton-Iseman Pleads Guilty to Theft [Bloomberg]
Joe Torre’s Blog [MLBlogs via NYM]
Tags: books, Reading Is Fundamental
CNBC anchor Maria Bartiromo has sold a book about ‘sucess’ for an advance several knowledgable sources said was approximately $500,000, according to Leon Neyfakh of the New York Observer.
This would be Maria’s second book. Her first, Use the News: How to Separate the Noise from the Investment Nuggets and Make Money in Any Economy, came out in 2002. Earlier this year, her CNBC colleague Charlie Gasparino published King of the Club, a book detailing the rise and fall of former New York Stock Exchange head Dick Grasso.
‘Money Honey’ Indeed! [Observer.com]