DE Shaw

In addition to rejoining the Harvard faculty in 2011, he jumped into a moneymaking spree. His clock was ticking partly because he knew that the Fed chairmanship, to which he has long aspired, was likely to open up in early 2014, when Ben S. Bernanke’s second term will come to an end…The opportunities have been many over the last two years. Mr. Summers, 58, has been employed by the megabank Citigroup and the sprawling hedge fund D. E. Shaw. He works for a firm that advises small banks as well as the exchange company Nasdaq OMX. And he serves on the board of two Silicon Valley start-ups: both financial firms that may pursue initial public offerings in the next year. One of them, Lending Club, offers loans to consumers and small businesses by making arrangements directly with online investors, a new business model that falls into a regulatory gap that consumer advocates say may lead to risky borrowing. [NYT]

And he’s legitimately sorry though he’d like to just say, in his defense, that he had no idea the tips he was passing on to his jeweler/golfing friend would’ve amounted to a $1 million and then some profit. Twenty grand, sure. Fifty thousand, MAYBE. Read more »

Overtime that was not for naught! Thanks to labor laws protecting LBBs, Tepper took home $2.2 billion last year. Other people who made some money in 2012: Read more »

  • 29 Aug 2012 at 1:47 PM

D.E. Shaw Geniuses Build Their Greatest Model Yet

Do you worship at the Temple of Chipotle? Do you refuse to make use of the online order option that allows you to bypass the line, as one half of Team Dealbreaker does, but unlike said burrito lover, prefer not to show up before 12 so as to beat the rush? Would you die before patronizing some inferior establishment for lunch but would also like to know what kind of wait you’re going to be dealing with before making the trip, or, alternatively, not really care how long you have to wait but just get off on predicting stuff to a 3-sigma confidence level? Some enterprising D.E. Shaw employees have got covered. Read more »

As those of you’ve been paying very careful attention may have noticed, Wall Street is pretty into tech these days. Morgan Stanley is underwriting every single IPO available, Goldman Sachs has money in Mark Zuckerberg’s poking machine and LinkedIn is making Jim Cramer’s head explode. Hedge funds, however, want more. While Peter Thiel famously invested in Facebook way back when, and Tiger Global has poured cash into a whole bunch of sites, the industry as a whole wants a piece of these companies and not just after they become (alleged) successes.

A handful of hedge funds already had a history of such investments, but the activity has increased recently as investors try to cash in on the surging valuations of Facebook Inc., LinkedIn Corp., Zynga Inc., Groupon Inc. and a smattering of smaller companies…In the past 12 to 18 months, firms including D.E. Shaw & Co., Maverick Capital, Brookside Capital and Tudor Ventures, as well as hedge-fund investor James Pallotta, have joined Tiger in putting more money into promising yet risky tech companies. Starting last summer, Tiger began ramping up its investments in private companies in India, China, Brazil, Russia and other emerging markets. This year alone, it has invested in six Indian start-ups, including consumer electronics retailer LetsBuy.com, online fashion site Exclusively.in, and online bookseller Flipkart…Edward Lampert, the hedge-fund investor who controls Sears Holdings Corp., has become interested in private tech companies too. He recently assigned Daniel Levine, an analyst at his hedge fund, ESL Investments, to look for opportunities.

Sounds great, right? Well it would be except for the fact that some people are apparently too good for hedge fund money. Despite the fact that the firms are willing to throw hundreds of millions at them and open doors to sophisticated investors, these people are “suspicious” and skeptical of what hedge funds want and what their intentions are and whether or not they are literally the devil. Read more »

  • 03 May 2011 at 3:33 PM
  • Banks

DE Shaw Might (Help) Start A Bank

With Indian billionaire Mukesh Ambani. Read more »

After he graduated from Columbia Business School last June, Adam Wyden probably had a bunch of offers to mull over from various employers. What he really wanted to do, though, was be a hedge fund manager. So he figured he’d just start his own shop, having the experience of trading stocks for his own account as Wharton undergrad (Class of ’06) and a summer internship with DE Shaw under his belt. Interested in getting a piece of the action? Read more »

  • 16 Feb 2011 at 9:45 AM

DE Shaw Cuts Rates

Like a Thai hooker with the clap. Read more »