hedge fund managers

  • 02 Dec 2013 at 11:52 AM

Donald Trump Discovers Pre-Nup He Doesn’t Like

The hard-charging wife of Dallas hedge-fund mogul James Dondero is proving to be as relentless as her husband in their epic divorce battle. Rebecca “Becky” Dondero, 32, plans to try a novel legal tack to get her estranged husband to cough up more cash than a $5 million prenuptial payout, according to sources. Last month, a Dallas state court jury determined that Becky was not entitled to more money under family divorce proceedings. At the trial, each argued that the other had violated terms of their prenup. The jury decided that both sides had breached the agreement but that it would remain in effect. A new trial is set for June 9 to decide if Becky is entitled to the full $5 million. To get around the maximum, however, she is preparing to claim under general contract law — as opposed to family law — that she is still entitled to damages because the jury determined that he breached the prenuptial contract, sources said. “Ms. Dondero’s demands over two years of negotiation varied between four and eight times the amounts stipulated in the prenuptial agreement and culminated in her filing 11 separate motions to invalidate the prenuptial agreement,” James Dondero said in the statement. Meanwhile, Becky, who declined to comment on the case, has a surprising ally. Donald Trump — no stranger to divorce court — sent her a note wishing her well and making it known that he was no fan of her husband’s, sources said. [NYP, earlier]

Pershing Square’s Bill Ackman appeared on Bloomberg Television for an hour today from the Robin Hood Investors Conference in New York, telling Bloomberg TV’s Stephanie Ruhle that he’ll take his Herbalife bet “to the end of the earth” even as he has lost $400-$500 million on the investment. He also said that Herbalife longs are all 80-year old billionaires. Carl Icahn responded to Ackman in a conversation with Bloomberg TV’s Trish Regan, saying: “I fail to understand how Bill Ackman, whom I haven’t spoken to for years, nor do I intend to speak to, would know what I am or am not committed to. I continue to believe Herbalife has a great future, and in my opinion many of the things Ackman says about it are simply the rantings of a sore loser…Interestingly there is something that Ackman and I have in common. Ackman complained at an Oxford conference that every time I went on TV and mentioned Herbalife, the stock went up a few points. Well, that’s also true of him.” Read more »

“We get involved on the board. We don’t micromanage and interestingly we get invited back because we’re not a disturbance or a disruption. And Hanes is a good example — we bought it at 20 and it’s now at 80. And I think the CEO will say that in the beginning he was wary of us but he said that we helped him quite a bit. And Motorola I think I still stay friendly with Greg Brown (chairman and chief executive officer of Motorola Solutions, Inc.) who says we helped him. I think this model must be used in this country if we are going to remain competitive. One of the major reasons I think for the fact that we have unemployment is and we don’t compete is the mediocrity of so many of our managements and so many of our boards. I want to make it clear that there are some very good managers and some very good boards. But generally, it’s amazing how badly these companies are run.” [Reuters]

Bob Chapman: He hit a kid with his car, sure, and it’s true I said his behavior can be ‘extraordinarily odd,’ but that doesn’t mean he’s not a masterful steward of capital any one of you would be lucky to have manage your money. Read more »

  • 30 Oct 2013 at 3:01 PM

Caption Contest Wednesday: Vintage Ray Dalio


A young Ray Dalio, from a photo he included in a presentation he gave at Harvard Business School several years back. [Bridgewater]

Save for a few details, Scaramucci’s long national nightmare is almost over, and celebratory drinks at the Hunt and Fish Club are in order. Read more »

Time was, entertaining a client on Wall Street was a relatively straightforward affair. Invite them to dinner at a steakhouse, maybe hit up some kind of sporting event, round out the night at a strip club. It was a simpler time, of simpler tastes. In the last number of years, though, things have changed. Most people would prefer to hit up a spinning class rather than spend upwards of 5 or 6 hours in the presence of some insufferable sales guy, and when they do want to involve scantily-clad entertainment? Candy on Stage 5 no longer cuts it. Read more »