hedge fund managers

Do people who are naturally intimidating become hedge fund managers or does becoming a hedge fund manager make one intimidating? Psychologists have long looked for an answer and while the data has so far been inconclusive, years of research have given us some insight into the varying intimidation tactics– innate or by design– used at firms across the nation. You’ve got your hedge fund manager who intimidates the good old-fashioned way: by screaming at his employees and calling them idiots. The one who uses “indirect methods to get his message across” to subordinates like “retreating to his office and placing and opposing trade” or using an intermediary to hold discussions with colleagues who are sitting two feet away. And, of course, the ones who publish employee handbooks with lines like “Ask yourself whether you have earned the right to have an opinion.” And then there are the ones who can do it with just one look, a pregnant pause, and unnerving negotiation of milk froth. Read more »

Getting hit with an indictment when he had several thousand dollars worth of tuna in the fridge. Reading about his employees holding covert job interviews at rest stops along I-95. Being forced to beg his staff to stay, rather than the other way around. Having to explain himself re: the timing of $166 million art acquisitions. Watching his #1 fan abandon ship. And now this: Read more »

Back in December, CNBC anchor Scott Wapner officiated an interview with hedge fund managers Carl Icahn and Bill Ackman, on the topic of Herbalife. In addition to describing Ackman, Icahn’s sworn enemy, as a “crying Jewish boy” not unlike the ones Icahn used to “beat up” in the schoolyards of Queens, going on record to say that he wouldn’t invest with Ackman if the Pershing Square manager was “the last man on earth,” and noting that he “rued the day” he met Ackman (referred throughout the interview by Icahn as “this Ackman guy”), Carl also had some choice exchanges with Wapner. They included:

  • Icahn: “If you want to take…hello?” Wapner: “Yeah, we’re listening.” Ichan: “Well, if you’re listening, let me talk!”
  • Ichan: “I want to say what I want to say. And I’m not going to talk about my Herbalife position because you want to bully me.” Wapner: “I’m not bullying you. I’m asking the question everybody wants to know, Carl that’s all. But you can make your statement.” Icahn: “I’m going to talk about what I god damn want to talk about.” Wapner: “Okay.” Icahn: “If you want to take that position I will never go on CNBC. You can say what the hell you want.” Wapner: “Okay.” Icahn: “But I’m going to tell you, I’m going to talk about what Ackman just said about me, not about Herbalife. And I’ll talk about Herbalife when I god damn want to, not when you ask me.”
  • Wapner: “Guys, we are going to end it there. Bill, so much appreciate you coming on today. Carl, I hope you’ll come back. That’s all I can say. It was a good conversation and it wasn’t anybody’s –” Icahn: “I don’t hear you tell me that you appreciated me coming on.”

Which is why viewers might have been surprised to hear Carl’s voice once again grace the CNBC airwaves today, in a call-in with Wapner during the Fast Money “Half-Time” report, but were probably not surprised to hear him spend a good portion of the interview telling Wapner to get off his lawn. Read more »

This could be you…

Miss the boat on a Hamptons share this summer? Looking for a warm-weather getaway come winter? Desperately seeking a honeymoon suite that, if its walls could talk, would say “Whitney Tilson was here”? Today’s your lucky day. Read more »

If you took a random poll of family, friends, colleagues, and strangers on the street, asking them how they’d feel about going to prison, the majority if not all of them would probably say, “Not good.” For most people, prison is a place to steer clear of, for all the reasons you can think of (living in a cell, isolation from the outside world, bad food, low paying jobs, daily risk of sodomy) and probably some you can’t.

Not too long ago, hedge fund manager Raj Rajaratnam counted himself among those who for whom jail time was something to avoid (if not by being an upstanding, law-abiding citizen than by hiring a high-priced attorney to try and get him off after being charged with 14 counts of conspiracy and securities fraud). But now? After having served 21 months of his eleven-year sentence? Raj can honestly say that this prison is great.

And not because hard time forced him to take a serious look at his life or to think about what he’d done or change himself for the better or any of that metamorphosis type crap, but because minus the not being allowed to leave the grounds rules? Raj’s life in prison is arguably better than his life on the outside, which did not include servants or a 34 inch waist. Read more »

Polygon Investment Partners’ Reade Griffiths is feeling a little bit cramped in his adjoining townhouses in the Royal Borough of Kensington and Chelsea. An extra 10,000 square feet or so—complete with a pool and spa—should do the trick.

Unfortunately for the claustrophobic Mr. Griffiths, he’s going to have to pay a 20% “house the poors” tax to get permission to actually build the £4 million, two-story lair, which through the magic of real-estate will turn into £10 million in added value. It is unclear what Reade’s £825K will actually be used for, since there are not any poor people in the Royal Borough of Kensington and Chelsea. Read more »

As many of you know, the last number of months have not been the best of times for hedge fund manager Steve Cohen. In addition to taking it up the tailpipe from several federal agencies, some of which he’s written $600+ million checks to, others whose fearless leader eats raw meat for breakfast and hopes to one day feast on Cohen tartare, the SAC Capital founder has seen friendships tested and found where loyalties lie. And it hasn’t been pretty.

Employees, despite being told their jobs are safe, have been holding exploratory interviews with other funds in hotel rooms that rent by the hour. The guy who previously said he’d be there through “the bombs going off” left Cohen in the trenches, alone, taking grenades. Clients have requested their money back on en masse; as of Friday night, virtually all outside investors were expected to have filed redemptions requests if they had not done so already.

Except for one. Read more »