hedge fund managers

  • 06 Jun 2014 at 11:51 AM

Hedge Fund Manager Puts Goats To Work

Mark Spitznagel, the founder of the $6 billion hedge fund Universa Investments, on Thursday brought 20 billy goats to graze among abandoned homes and general detritus in Brightmoor, one of Detroit’s most blighted neighborhoods. Not to be outdone by JPMorgan Chase, the country’s biggest bank, which recently pledged to invest $100 million to help Detroit over the next five years, Mr. Spitznagel says he is contributing directly to the community. “It’s an urban farming experiment,” he said of his plan to leave his goats to roam and munch on overgrown grass. “Goats are an effective way to do landscaping,” he added…Mr. Spitznagel will enlist the help of the community — paying previously unemployed adults and enlisting the help of local youths to herd the baby goats — and he plans to build portable housing for the goats in addition to pens and electric fencing. At the end of the summer, Mr. Spitznagel said, he will sell the goats to Detroit butchers and give the proceeds back to the community. [Dealbook]

  • 03 Jun 2014 at 12:10 PM

Someone Still Believes In Steve Cohen

It may be the woman with whom he shares a marital bed, but every person counts. Read more »

Odey has upped the ante for poultry accommodation – he’s building a temple for his chickens for which the stone alone costs £130,000…The temple’s roof – adorned with an Anthemia statuette – will be fashioned in grey zinc; the pediments, cornice, architrave and frieze are in English oak; and the columns, pilasters and rusticated stone plinth are being hewn from finest grey Forest of Dean sandstone. Naturally, the doors will be painted in the Odey Asset Management founder’s favourite Hague Blue – “to match the doors around Eastbach Court”, according to the plans…“The temple will be a lovely place when it is finished at the end of the year,” Odey said from a grouse moor. “The chickens will be grand.”Telegraph, September 25, 2012

Early on in hedge fund manager Crispin Odey’s relationship with his chickens, he made them a promise, about the things he’d do to make them happy. “I’ll move heaven and earth,” he told them. “You’ll be the envy of all the other chickens in the UK. Anything you want, anything you desire, will be yours.” And while a lot of people make similar pledges at the beginning of romances, when things are all heady and you can’t bear to be apart for any period of time, Odey kept his word. By 2012, his chickens were leading the kind of life most fowl wouldn’t dare dream of. Still, there was one thing Odey hadn’t given them, one thing he hadn’t gone the extra mile for. The chickens kept their feelings to themselves for as long as possible and then one night, while they were all watching a documentary about the Taj Mahal, they couldn’t keep their feelings inside any longer. Read more »

Did Third Point chief Dan Loeb recently tell friends he had a plan to “undermine the credibility” of Sotheby’s Chairman and CEO William Ruprecht? Yes. Did Ruprecht refer to Loeb as “scum”? Indeed. Are the two men going to let either of these things make Sotheby’s board meetings, at which they’ll be working together, awkward in the slightest? Of course not. Why would you think that? Read more »

When the Mets wouldn’t give him a say in the direction of the franchise (even after he gave away several great ideas for free), who was there? A-Rod. When the Feds were circling, who was there? A-Rod. When he was forced to turn his hedge fund into a shell of what it once was, and watch as closet upon walk-in closet of SAC-branded fleeces were rendered useless, who was there? Read more »

  • 01 May 2014 at 5:28 PM

David Einhorn Did Okay For Himself Last Month

David Einhorn’s Greenlight Capital Inc. posted returns of 4.3 percent in April, owing to his short bets against high-flying momentum stocks and its holdings of Apple Inc. and Micron Technology, according to sources familiar with the hedge fund on Thursday. The April gains brought the $10 billion hedge fund’s gains to 3.1 percent for this year to date. [Reuters]

Savor this moment, Dow Chemical. Treasure it. Never let it go. Read more »