hedge fund managers

As has been discussed at length in the past, should hedge fund manager Bill Ackman ever decide to take up a new line of work, he would no doubt have a bright future hosting a guerrilla-style makeover show wherein he and a sidekick drive around in a van looking for people who could benefit from his discerning eye and then ambush them on the street and weigh in on what’s wrong with their [choose all that apply: bangs/clothes/arms/ass/life in general].1 Although not classically trained, the Pershing Square founder has years of experience, dating all the way back to his days as a Harvard Business School student, when fellow classmates were asked if streetwalker was the look they were going for.

One money manager said Mr. Ackman was a trustworthy and loyal friend, but also “an acquired taste” because of his tendency to speak very directly where others might tread gingerly—or not at all. When Mr. Ackman was a student at Harvard Business School, the friend recalled, he took it upon himself to tell at least one woman she was overly made up. The delivery: “You know, I’m just saying this because I have your best interests at heart, but you have too much makeup on.”

Those who can get past the bluntness to see that Ackman’s constructive criticism comes from a place of love ultimately benefit from his counsel. According to one testimonial: Read more »

Not back in the day, when Icahn was running the Southeastern Queens chapter of the Jewish Crips and not today, as the elder hedge fund manager presumably maintains ties with the organization, whose members stay current on his various investing nemeses and won’t hesitate to fuck someone up. Read more »

  • 26 Mar 2013 at 12:20 PM

Steve Cohen Bought Himself A Little Pick-Me-Up

As you may have heard, the last number of months have been a bit tough on hedge fund manager Steve Cohen. In November, one of his former employees, Mathew Martoma, was accused of orchestrating “the most lucrative insider trading scheme ever,” in a criminal complaint in which Cohen was referenced as Portfolio Manager A. A week later, the Times lopped 21,000 square feet off his house. Earlier this month, he had the pleasure of setting the record for the largest insider trading fine ever, at $614 million, a sum that does not even put this whole thing behind him, as the settlement “doesn’t preclude the Securities and Exchange Commission from pursuing Cohen himself in the future.” So you’ll excuse the Big Guy if he felt the need to indulge in a little retail therapy recently. Read more »

George Soros will be the first to be quizzed by lawyers in his battle with former mistress Adriana Ferreyr, a judge ruled yesterday. The billionaire will be deposed by the end of July. Also to be quizzed is Soros’ new fiancée, Tamiko Bolton, on Sept. 27 — which could interfere with their planned fall wedding. While Soros didn’t attend the Manhattan hearing, Ferreyr sat with her attorney William Beslow and stared down Soros’ counsel Gary Stein. Ferreyr is suing Soros for $50 million, claiming he promised her a $1.9 million apartment but gave it to Bolton. [NYP, earlier]

  • 19 Mar 2013 at 1:39 PM

Harbinger Group Now Dabbling In Women’s Lingerie

Naturally. Read more »

Despite reports to the contrary. Nueva York it is. Read more »

The U.S. territory’s leaders are seeking to lure mainland residents such as hedge-fund billionaire John Paulson. Moving to Puerto Rico could allow Paulson and other top-earning taxpayers to shield future income from the Internal Revenue Service without giving up their passports…Even with potential tax advantages, Paulson and others considering a move to Puerto Rico should be wary, said Argeo Quinones Perez, a professor of economics at the University of Puerto Rico’s Rio Piedras campus. “For people as wealthy as Mr. Paulson and the like, spending half a year in this provincial, third-world environment would be like spending half a year in minimum-security prison,” he said in an e-mail. [Bloomberg, related]