The billionaire is retiring and closing his firm, Duquesne Capital. The fund returned returned 11 percent in 2008 and 10 percent in 2009 but apparently Stan can’t take the “interim drawdowns” (they’re down 5 percent so far this year) anymore. Also, he just wants to golf. Continue reading »
golf
CNBC has the six-boxer and BREAKING NEWS banner out so fine, let’s get into this. What do we think the li’l fella’s gonna talk about today?
11:01 Many people in the room know him. (Some biblically?)
11:02 His real apology to Elin will not come in the form of words (’cause money talks bull shit walks, bitches).
11:03 Is he going to cry?
11:05 “ELIN NEVER HIT ME THAT NIGHT [on Thanksgiving] OR ANY OTHER NIGHT”
11:06 “Elin deserves praise, not blame” (who’s blaming her?)
11:07 “I thought I worked hard all my life and deserved to take part in the temptations that surrounded me.” [Eliot Spitzer nods gravely at home]
11:08 Why is this happening?
11:08 Character and decency, yada yada yada
11:09 Parents used to point to me as role models for their kids, now they just look at me as a big whore.
11:10 They sent me to rehab; I have a long way to go; just this morning, on the way here, I stopped at an IHOP and you have no idea how hard it was for me lay that ass across the griddle and give it the Tiger.
11:10 BTW- I never used steroids
11:12 Little known fact– I was raised a Buddhist. But I’ve strayed from those teaching in recent years.
11:13 I’m going to get even more therapy.
11:14 He’s going to go back to golf some day, one day, but probably not today.
11:15 Okay it’s time for this:
11:16 Extended hug for everyone in the audience.
First Reactions
FYI: Larry Kudlow thought it was a phenomenal apology, and he, as someone “familiar with the 12-Step Program,” loved the emphasis on step 9, the making of amends.
Soooooo. Here’s what Jimmy Cayne had to say about about a bunch of some notable CEOs, as noted by noted by Charlie Gasparino’s new book, When Mooks Fail:
Cayne usually had nothing but disdain for most of his fellow CEOs on Wall Street. He had once referred to former NYSE chairman Dick Grasso as a “pig” for his attept to cash out his $140 million retirement package even after Cayne, then a NYSE board member, approved the move. Morgan Stanley CEO John Mack was a “bullshit artist”‘ Hank Paulson, when he was the CEO of Goldman, was simply a “snake.” Cayne had even less tolerance for Sandy Weill, and even as he considered selling Bear to JPMorgan Chase chief Jamie Dimon, he told friends that he wasn’t crazy about Dimon because he was a “screamer.”
So Jamie Dimon is a “screamer.” Okay. Here’s what JC had to say about Stan O’Neal, the greatest CEO on Wall Street, present company not included, of course.
I legitimately have nothing to say today. No matter; excelsior is my motto. Something is going on, pertaining to balls—you’re all getting shorn after closing bell. No more curly Qs on our watch. Kidding. I think. The Times reports that less of you are playing golf. Something about the game being too time consuming. Balderdash. How do you expect to ever become the CEO of some bank and lose the place billions and billions of dollars without golf? Jacking off on the job playing Text Twist ain’t going to do it. Nor will building towers of cards. So…get on out there a-sap. It’s a slippery slope and whatnot. (If you’re worried about missing my next post because you can’t bring electronics on the green, I’ll give you a preview of what’s to come: Rachael Ray hand-job tutorial.)
More Americans Are Giving Up Golf [NYT]
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