• Screen Shot 2014-06-06 at 11.47.31 AM


    Hedge Fund Manager Puts Goats To Work

    Mark Spitznagel, the founder of the $6 billion hedge fund Universa Investments, on Thursday brought 20 billy goats to graze among abandoned homes and general detritus in Brightmoor, one of Detroit’s most blighted neighborhoods. Not to be outdone by JPMorgan Chase, the country’s biggest bank, which recently pledged to invest $100 million to help Detroit […]

    / Jun 6, 2014 at 11:51 AM
  • Chauncey Mayfield, from his 2011 "Corner Office" interview with the Times. Has anyone ever done a study on the percentage of "Corner Office" interviewees who later turned out to have been committing fraud at the time of their interview? It's not just him, right?


    Investment Manager Was Just Waiting For The Right Time To Tell Client About The $3 Million He Stole

    It’s kind of old news but today’s SEC suit against MayfieldGentry Realty Advisors is still pretty amusing. Basically MayfieldGentry was a registered investment advisor with $750mm of AUM at its peak, something like $140mm of which belonged to its biggest client, the city of Detroit’s Police and Fire Retirement System. You get the sense that […]

    / Jun 10, 2013 at 4:16 PM
  • I feel like he'd be a decent swap unwind negotiator.


    Detroit And Its Banks Both Would Prefer To Forget All About Those Interest Rate Swaps

    Here’s a Bloomberg article about how banks made money by doing interest rate swaps with Detroit, and now Detroit is sad, because like a lot of municipalities Detroit swapped its floating rate bonds to fixed to hedge the risk of rates going up, and rates went down, and now the PV of Detroit’s swap liabilities […]

    / Mar 14, 2013 at 12:03 PM
  • News

    Killing Time On Capitol Hill

    The following post is by Dealbreaker reader and commenter Infinite Guest. The e-mails from Goldman Sachs that Senator Carl Levin posted on his website Saturday, ahead of Tuesday’s hearing before the Permanent Subcommittee on Investigations, demonstrate, if anything, that late in 2007, as was widely reported in contemporary media, Lloyd Blankfein and others were rightly […]

    / Apr 26, 2010 at 12:00 PM

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