That November, living at home and angry over what he saw as the unfairness of his predicament [of being suspended for cocaine possession and witness tampering], Lohse quietly visited the campus to report SAE for hazing. He had been encouraged to make the move by several friends and by his brother, Jon, who had quit his own fraternity during his senior year. Lohse met with Dartmouth’s associate dean for campus life, April Thompson, and David Spalding, Kim’s chief of staff, who was a brother at Alpha Delta of Animal House infamy. He told himself the move was in the fraternity’s – and Dartmouth’s – best interests. “I saw my role as a reformer,” he says. “I would argue that making these issues front and center is a very positive thing to do.” Telling none of his friends or fraternity brothers that he was in Hanover, Lohse presented the school officials with a “dossier of fraternity-hazing and substance-abuse-related information.” For well over an hour, he detailed his experiences and even named names…On February 22nd, his 22nd birthday, Lohse received a call from Dartmouth’s office of judicial affairs, informing him that, based on information he’d provided the college, they were pursuing charges against him for hazing. The college has also charged 27 other members of SAE, stemming from events in the 2011 pledge term. While the other students all categorically deny doing anything illegal, the information that Lohse provided to Dartmouth officials may directly implicate him in hazing. As a result, Lohse – the only student to come forward voluntarily – may be the only student who is ultimately punished. Coupled with the chair-throwing incident, the charges could get him expelled from Dartmouth. “I told them the unabridged truth, and they got me to incriminate myself,” he says. “I understand that no one is above the rules, but none of this would have even been possible if I hadn’t spoken out in the first place.” [Rolling Stone, related]
Bridgewater Accuser/Dartmouth Fraternity Brother-Cum-Reformer Surprised Find Himself Not Covered By Whistleblowing Protection LawsBy Bess Levin
Last Friday afternoon, while many a financial services employee was dealing with the fallout of receiving a bonus they did not believe to be commensurate with the work they put in for 2011, Bridgewater was dealing with a far weightier issue. The hedge fund had a thief in its ranks and said thief’s jig was up. Read more »
1. Tiger Global, YTD total return: 45% (assets, in billions: 6.0)
2. Renaissance Institutional Equities, 33.1% (7.0)
3. Pure Alpha II, 23.5% (53.0)
4. Discus Managed Futures Program, 20.9% (2.5)
5. Providence MBS, 20.6% (1.3)
6. Oculus, 19.0% (7.0)
7. All Weather 12%, 17.8% (4.4)
7. Dymon Asia Macro, 17.8% (1.6)
10. Citadel, 17.7% (11.0)
11. Coatue Management, 16.9% (4.7)
12. Stratus Multi-Strategy Program, 16.6% (3.7)
13. OxAM Quant Fund, 16.4% (2.0)
14. SPM Core, 15.7% (1.0)
15. Pure Alpha I, 14.9% (11.0)
16. Autonomy Global Macro, 13.9% (2.1)
17. BlackRock Fixed Income Global Alpha, 13.8% (2.4)
18. SPM Structured Serving Holding, 13.5% (1.6)
19. GSA Capital International, 13.0% (1.0)
20. JAT Capital, 12.7% (2.5)
And for those who judge themselves by how many bags of hundos they’ve got to strip naked and roll around in: Read more »
The truth, according to Bridgewater, being: 1) the world is going to hell in a handbasket and 2) 2011 will be the Year of the Hyena. Read more »
Earlier this week, a Dartmouth College undergraduate wrote an opinion piece for the student newspaper in which he recounted “vomiting in my mouth” after hearing an anecdote about Bridgewater Associates supposedly paying a girl $100 to write an essay about why she chose not to participate in their summer recruitment session. That the hedge fund would be so aggressive in its attempts to convince Dartmouth’s best and brightest to waste their potential “manipulating capital” and “perpetuating class-based systems of power and dominance” sickened him, as did the fact that, as he sees it, Dartmouth has become a “vocational school for investment bankers” and those learning the skills necessary to work at “faceless hedge funds.” A ravenous reader of The Dartmouth, alum and Bridgewater co-CEO Greg Jensen saw the op-ed and today chose to take the young man to task re “impressions,” via a letter to the editor. Read more »
Dartmouth Undergrad Has A Bone To Pick With Ray Dalio, ‘Faceless Hedge Funds,’ The Dartmouth Board, And Peers Who Flock To Wall Street To ‘Perpetuate Class-Based Systems Of Power And Dominance’By Bess Levin
At a party in New Hampshire last week, one Dartmouth undergrad relayed a story to another about Bridgewater Associates. Apparently the former had chosen to abstain from the annual recruiting session that takes place over the summer for rising juniors and as a firm committed to probing the depths of any situation until they find the truth, Bridgewater wanted to know more. The hedge fund offered to pay the coed “$100 to write a statement explaining why she didn’t participate,” she told her friend, a proposition that sickened him.
The sheer arrogance and senselessness of this anecdote made me sick to my stomach, partly because, as planned, the exercise made her second guess her choice. But I had to admit there was a certain conceited logic to it — if this company can pay her $100 just to explain why she did not want to work for them, it’s easy to imagine how much cash she could rake in if she decided to pursue the job.
The exercise also got him thinking.
After I was done vomiting in my mouth, thinking of all the people who desperately need that hundred dollars, I began to think about the depth to which the recruiting culture has permeated our College. It has siphoned off some of our great minds into a dead-end field that sanitizes the intellect, offers almost nothing to human society, and conditions people to act in ways that are decidedly inhuman.
He continued. Read more »
Don’t Try And Tell Ray Dalio There’s Anything Risky About Hunting An Animal Known To Impale People With Its Giant HornsBy Bess Levin
All that tells him is you know nothing about risk management. Read more »