hedge fund managers

Clifton S. Robbins is strangely doing okay for himself and his investors, despite having never sent a letter to a company instructing it to pull its head out of its ass, digging up the old college transcripts of CEOs, informing boards they have exactly one hour to free up 2-3 seats, or telling chief executives to do the honorable thing and euthanize themselves. Read more »

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]

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 »

  • 23 Oct 2013 at 2:32 PM

But Daaad! Netflix Has So Much More Growth Potential!

As you may have heard, starting October 10, Carl Icahn sold 2.99 million shares of Netflix. His son Brett, who works for the old man, thought this was a mistake. So that no one felt like their voice wasn’t being heard, a filing disclosing the sale included statements by both parties, “exposing [the] disagreement” between Senior and Junior. Brett’s lays out his investment thesis. Carl’s, which reads like he addressed it to Brett and then changed it to “Dear SEC”, is essentially:

“Listen up, Sonny Boy. I know you think you’ve learned a thing or two and that’s great. But step aside, Big Daddy’s got money to make.” Read more »

Amanda Sykes, the Marie Antoinette of estranged hedge-fund wives, will be allowed to eat cake, but she’s going to have to pay for it. And for her divorce lawyer. Read more »

Lloyd Blankfein of Goldman Sachs Group Inc. had bok choy and purple cauliflower with his wild striped bass last night, and blueberries on toothpicks for dessert. At Lincoln Center’s Fall Gala, a healthful menu seemed designed to ensure long-lived donors. Julian Robertson’s search for wine proved challenging, as greetings kept him from the one area where waiters were serving drinks. He finally got a glass of Santa Rita Sauvignon Blanc with his first course, a wedge of iceberg lettuce. [BusinessWeek via JP]