Tags: "surprising findings", extracurricular activities, Harvard, lacrosse, Lauren Rivera, Princeton, Stanford, studies, this is wild, Wharton, Yale
Gang, something big has come up this morning and we need to discuss it right now. Don’t want to scare anyone but also don’t want to minimize the enormity of this news so let’s just get right to it. Wall Street has been keeping a secret. Look around at your colleagues this morning. The ones who attended schools like Yale, Princeton and Harvard and played sports like lacrosse and squash and use the word ‘summer’ as a verb and describe the color red as Nantucket red and argue the HJs don’t count if you give them to a guy whose named ends in IV and get aroused at the mere thought of an ACK sticker? They might have had an easier time breaking into the industry than those who graduated from lower ranked universities and did not get their WASP on. Yes, really.
After you’ve picked your jaws up off the floor, you’re presumably going to want to fight us on this and shout “It can’t be!” and “You lie!” Sorry to say it, pumpkins, it’s the truth. But don’t take our word for it- someone actually did a study on the shocking phenomenon. Read more »
Tags: dons, Fashion, Harbinger Capital Partners, Harvard, hockey players, Lisa Falcone, Minnesota, Phil Falcone
In our long and highly scientific study into the lives of Harbinger Capital couple Phil and Lisa Falcone, one thing we’ve determined is that Lisa, God’s gift to us, is not your typical hedge fund wife. For instance, most of these women would not commandeer a conference room at their husband’s office blasting music with the lyrics directing “bitches, throw your hands in the air,” citing 18 years of marriage and no pre-nup to mean “shared family office.” Most of them would not hire “little people” for their daughters’ birthday, or bring a piano-playing pig into the house or dance on a table in view of photographers. In sum, most of these women play by the rules, figuring that’s the price they’ve paid, whereas Lisa lives by the motto “I do what I want.”
One of the things Lisa has most notably wanted to do, which her fellow Hedge Fund Wives will not, is take an out of the box approach to fashion. Gladiator outfits? Yes, please. Mermaid Chic? Don’t mind if I do. Slutty Peacock? Bring. It. On. And while the fact that Phil clearly loves Lisa for who she is and has no interest in forcing her to act like one of them should be refreshing, some people have still questioned how he is comfortable with these get-ups, wondering if they attract too much attention and scare of potential and existing investors, whose hands must all times. What is the deal here? A profile on Phil in the latest issue of Bloomberg Markets that touches on his early life sheds some light. Read more »
Tags: Harvard, HMC, Jane Mendillo, performance
A year after a disastrous 27 percent decline that prompted layoffs, salary freezes and a halt to some campus expansion, the Harvard endowment on Thursday reported a solid 11 percent increase in its $27.4 billion endowment portfolio for its fiscal year ended June 30. In her first year as head of the Harvard Management Company, which oversees the endowment, Jane Mendillo struggled as the portfolio she had inherited faced heavy cash demands in the area of alternative investments when the stock and commodities markets tanked, The New York Times’s Geraldine Fabrikant reports. Since then, Ms. Mendillo has put her stamp on the endowment, increasing its readily available cash and generating a respectable, if not spectacular return, several endowment experts said of the latest performance. The return lags that of stock market averages for the period, though it is better than the internal benchmark used by the endowment.
Harvard Endowment Posts 11% Return For The Year [Dealbook]
Tags: AK Barnett-Hart, Harvard, Michael Lewis, The Big Short, the true purpose of an investment bank, theses
A.K. Barnett-Hart says check yourselves.
A word of advice to any asshats currently hard at work figuring out how to cause the next financial crisis: AK Barnett-Hart is watching you. In fact, you’re the reason the second year investment bank analyst, who wrote her senior thesis about the market for subprime mortgage-backed CDOs (which Michael Lewis called “more interesting than any piece of Wall Street research on the subject”), got into this line of work. To police you fuckers, and clean this place up. From Deal Journal: Read more »
Tags: Ashley Dupre, Eliot Spitzer, Harvard, hookers, Kristin Davis, this is so unfair
Eliot Spitzer is scheduled to deliver a lecture tomorrow at Harvard. The topic: ethics. Unfortunately, some people would rather the event not come to pass. Namely, Kristin Davis, the hedge fund employee-cum-Madam who personally scheduled a slew of Spitzer’s appointments back in the day. What has she done about it? Written a letter to Harvard protesting the whole thing, that’s what! In her missive, David apparently lists seven reasons why this shit should not go down and says, I think sarcastically, that she is “greatly intrigued as to what Mr. Spitzer could contribute to an ethical discussion.”
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