hedge fund managers

Bill AckmanIt’s a burden, really. Read more »

  • 23 Oct 2014 at 4:48 PM

Bill Ackman Is Onto You!

"This guy back stage knows what I'm talking about"The interview began at 2 p.m., and [Jim] Grant went straight after the elephant in the room — the Valeant-Allergan deal. “May I call you Bill, or do you prefer ‘Alpha’?” Grant asked playfully before launching into a series of questions. Before we go any further into this story, you should know that short-seller Jim Chanos, CEO of Kynikos Associates, was sitting in the crowd. Chanos is famously short Valeant. He says it is an accounting rollup that lacks organic growth. Ackman knew Chanos was in the crowd, because during the lunch lecture (about 20 minutes before Ackman’s interview), Chanos asked a question in front of everyone present. Now, back to Ackman’s interview. As Grant asked the same questions about Valeant-Allergan that critics have been asking for months — “Does the company actually make money?” “Does Valeant overpay for its acquisitions?” “Doesn’t it need to spend money on R&D?” — Ackman started to bristle a bit. Suddenly, he turned toward Grant. “Are you short because your daughter is working for Jim Chanos?” he asked pointedly. [BI]

  • 23 Oct 2014 at 10:00 AM

Ken Griffin Introduces The Concept Of His Divorce Voice

It's The Griffins!As those of you keeping up with the conscious uncoupling of Kenneth Griffin and his soon-to-be ex-wife Anne Dias Griffin know, both the Citadel founder and his bride have been playing the hardest of ball re: marital assets, reputations, etc, since he filed for divorce over the summer, maintaining, through their attorneys, that each other can suck it. For her part, Anne has alleged that Ken:

  • Surprised her divorce papers while she was on vacation with their three children
  • Had a couple’s therapist he was seeing on his own convince her to sign a pre-nup
  • Is an absentee father
  • Changed the locks on their houses
  • “…threatened to demolish part of the family’s primary Chicago residence”

In response, Ken has:

  • Reminded Anne about the time he dressed up “as Spider-Man for a school Halloween party and as a prince for a daughter’s birthday party”
  • Reiterated that if Anne thinks she’s getting a dime more the prenup stipulates, she oughta think again

…and most recently, said in court filings that 1. Use of his private jet is privilege, not a right and 2. What she might have interpreted as terrifying verbal abuse was simply how he talks when he’s divorcing someone and not cause for alarm. Read more »

Thankfully, the e-commerce giant came to its senses before Ichan had to go all Queens schoolyard on its ass. The only reason he gave them an extension on his patience is because he’s actually had great success selling his knickknacks on the site. Read more »

As you may have heard, hedge fund manager Louis Bacon is in a bit of a tiff with “Canadian clothing magnate” Peter Nygard, his neighbor in Nassau. While the genesis of the argument is unclear, Bacon appears to have been upset with Nygard for doing some environmentally questionable things in the area, while Nygard claims Bacon’s beef is that he wouldn’t sell the Moore Capital founder his land. Typically, when rich people live within close proximity of one another, disagreements quickly devolve into amazingly petty wars of words and actions between two people with little to lose and unlimited resources with which to do things, like, say, cut down each other’s shrubs without asking. Any past feuds between the exceedingly wealthy, though have been complete and total child’s play compared to Bacon v. Nygard, in which:

* Bacon has claimed Nygard paid off a group of people to march around carrying signs linking Bacon to the KKK.

* Nygard has claimed an assistant of Bacon’s, acting on orders from his boss, blasted the most annoying sounds in the world from “military grade speakers” directly into Nygard’s bedroom, as a message not to fuck with Bacon.

* Nygard has claimed Bacon also dispatched an assistant to burn down his neighbor’s house. Read more »

  • 22 Sep 2014 at 12:52 PM

Bond Lovers Should Run And Hide: Julian Robertson

Julian Robertson, the billionaire founder of Tiger Management LLC, said there’s a bubble in bonds that will end “in a very bad way.” “Bonds are at ridiculous levels,” Robertson said today at the Bloomberg Markets Most Influential Summit in New York. “It’s a worldwide phenomenon that governments are buying bonds to keep their countries moving along economically.” [Bloomberg]

By day, Brian H. Lederman works as a managing director for Swiss Performance Management & Fiduciary.* By night (and maybe also by day), he grabs women’s asses. He grabs them on the subway, on the sidewalk, while waiting in line for the bathroom, and on his way out of the club. He grabs them in the rain, on the train, here and there and anywhere. If there were a category for grabbing asses, he’s undoubtedly be the Guinness Book of World Records holder. That is to say, he grabs a lot of asses. And while most people would not be able to keep track of all the asses they’d grabbed in their lifetime, Lederman claims he’s never forgotten an ass, which was an essential piece of his recent defense against allegations that he’d grabbed one at Lucky Strike earlier this week. Read more »