hedge fund managers

  • 20 Sep 2013 at 5:16 PM

Lisa Marie Falcone Is Back, Baby!

Thought a little $18 million fine and a 5-year ban from the securities industry for her husband was going to keep Her Fabulousness in the shadows, shut off from the world, inside her speakeasy/closet? Think again! Read more »

Billionaire hedge-fund manager Philip Falcone’s $18 million settlement with U.S. regulators that includes a five-year ban from the securities industry and an admission of wrongdoing was accepted by a federal judge. U.S. District Judge Paul A. Crotty in Manhattan today said in a written order that the agreement reached last month with Falcone and Harbinger Capital Partners LLC is “appropriate and proportionate to the defendants’ admitted wrongful conduct.” [Bloomberg, earlier, earlier]

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 »

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 »

Late last month, a guy named Jim Bisenius was surfing the web when he came across an advertisement for a prostitute. “I like prostitutes,” Jim probably thought to himself and proceeded to contact the woman at the number she had listed in the ad. Unfortunately for Jim, the ad turned out to be a decoy and the woman on the other end turned out to be a cop. Will this affect his criminal record? One would think so, yes. Will it affect his position at Common Sense Investment Capital, the firm he founded in 1991? According to CSIM, no.

For more than two decades, Common Sense Investment Management (CSIM) has brought superior risk adjusted returns to our investors and clients. CSIM’s success is about a team of committed and driven investment professionals; not one individual. Jim Bisenius’ recent personal transgression bears no reflection on this outstanding team of professionals or the quality of portfolio management at CSIM. Going forward, the firm’s partners have decided that Jim will remain in his role as Chief Executive Officer and Chief Investment Officer and he will deal with this recent event as the personal matter that it is. Our investment process and decision making will continue to be made by our investment committee, which is comprised of our President, four Portfolio Managers, Director of Operational Due Diligence, Director of Risk Management and myself. All management decisions continue to be made by the management team. We look forward to building on CSIM’s successful 22-year track record and creating value for our investors.

Relatedly, if you’re wondering if Jimbo is the type of guy who would define marriage as the union between one man and (at least) two women, the first being his wife, the second being the woman he thought was a hooker, the answer is come on, of course he is. 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 »