Sure, he’ll accept your dinner invitation. But it’s gonna cost ya. The former Fed Chair doesn’t get out of bed/attend speaking engagements, pan roasted truffled squab or not, for less than a quarter mill. Read more »
hedge fund managers
David Einhorn has watched enough criminal procedurals to do a little gumshoeing himself. Read more »
No one has made Herbalife “disappear” yet, as he recently requested, but Pershing was up 11.7 percent through February, and that’s something worth celebrating. Not crying tears of joy over, but raising a glass to, nonetheless. You want wet, raw, uncontrollable displays of emotion, you’re going to need to take Herbalife out in the middle of the night. Read more »
John Paulson sat at his desk, staring at the office supplies that were all but making a mockery of him. The gold pens. The gold paper clips. The gold-plated keyboard, identical to the ones that he’d decreed everyone in the office have, too. He’d ordered them last year, along with the gold staplers, gold tape dispensers, gold paper weights. As his analysts were begging him to dump his holdings, he was directing his secretaries to get rid of everything in the office that didn’t reflect his position–nay, his feelings– for the precious metal that wasn’t nailed down to the floor. And how had gold repaid him? How had it treated his fund? By losing something like 10,000% and spitting in his face. And yet he still would not budge. Not when gold lost him hundreds of millions. Not when his friends, people who really cared about him, took him aside and said, “I’m telling you this as a friend: she’s out there making a fool of you.”
But now, as he stared at the keyboard, all he could think was how much he hated gold. He had a right mind to kick her to the curb, and that’s exactly what he was going to do. Paulson shot up out of his chair and raised his arm to sweep the keyboard, the pens, and the paper-clips into his, yes, gold-plated waste paper basket, with one cleansing motion, when a trusted adviser came bounding through the door.
“P!” he shouted. “You’re not going to believe this.” Read more »
At least one person isn’t happy about the pending insider trading settlement between the government and SAC Capital Advisors LP and isn’t afraid to make that known — anonymously. In an anonymous email to U.S. District Judge Laura Taylor Swain, who is presiding over the criminal portion of SAC’s settlement, the critic had harsh words for the Justice Department and SAC’s billionaire founder Steven A. Cohen. “LTS, you must be tough like [Judge] Rakoff, kill the plea deal now that SAC trader Mathew Martoma is convicted to force DoJ to put Steve Cohen behind bars,” the person wrote. “His billions were made by insider trading and stolen from investors.” [WSJ]
*Assuming you can’t get them imported to the joint.
Even better than the last time he asked, when the only thing that happened was the opposite of what he wanted, and cost him a large sum of money. Read more »
“I feel like a ninja in a fight,” Dalio said of the effects of practicing transcendental meditation. “When it comes at you, it seems like slow motion.” [Bloomberg]