What’s a couple billion here or there? NBD, is what it is. Continue reading »
investors
San Diego Pension Fund Not Too Worried About The $1.8 Billion Hole Former Deustche Bank Trader Left In Ex-Employer’s Ass
By Bess Levin
As some of you may know, in the post-crisis world, raising capital can be a tricky business, even for hedge funds with impeccable track records. Even more difficult? Getting people to sign on to fund of funds, whose due diligence processes were called into question following the Madoff scandal. Fortunately, there’s still one guy who knows how to get the job done. His name? Anthony Scaramucci AKA The Mooch, who is the topic of a Bloomberg Markets Magazine profile next month. If you want to raise some real money, whether you’re running a FoF or just need some cash for the weekend, we suggest following his system. A fool-proof system for getting any investors you want to open up their wallets for life. What are we talking about? M.O.O.C.H. It’s a comprehensive approach for the seduction of potential investors that Scaramucci’s been developing for years. And now, he’s sharing it with you. Continue reading »
As a result of the Feds’ current attempt to prove insider trading has gone down at certain hedge funds on Wall Street, several shops- some without verdicts of guilt- have been forced to close their doors. Investors saw the fund’s name in the paper in the same headline in which the words ‘insider trading’ appear and that was that. Until recently, such has not been the case for SAC Capital and why is that? Because unlike other funds, which apparently need to include a ‘no pussies’ clause and a forewarning that any stories of possible illegality set off an immediate gate, SAC investors have balls. There is nothing you could put in their faces that would make them flinch. Bat-shit insane ex-wives crying insider trading? Associations with traders who’ve pleaded guilty to putting material non-public information to use? Sodomy by whiteboard marker? Staffers losing appendages in the deep-fryer? You’ll have to do better than that, they say. Except for one.
As you may have read in the papers, the government is currently hard at work trying to prove that employees of certain hedge funds on Wall Street are guilty of insider trading. A bunch of firms have been raided, some arrests have been made, friendships have been destroyed, and a few shops have been forced to shut their doors. The Feds’ little song and dance, experts have noted, appears to be part of a larger attempt to nail one man in particular. Some of you know him as ‘Steve,’ others as ‘my liege’ and others still as ‘Dad.’ To us, he’s simply ‘The Big Guy.’ Continue reading »
Way back in September, Phil Falcone held a conference call with Harbinger Capital clients wherein a “defensive” Falcone “expressed dismay that some investors had been talking to the press” and strongly urged them to put a sock in it. Apparently some people either didn’t get the memo or, in retaliation for Phil’s decision to lock up their money and then help himself to some in order to pay personal taxes, simply chose to ignore it. For example, yesterday “several” investors told Reuters that the Harbinger Capital Partners fund finished 2010 down around 12 percent and is off about 1.2 percent through the middle of January. In the same article, it was suggested that Falcone had to decided to stop reporting his performance to HSBC to spare himself embarrassment. What did Big P have to say about all this? For one, his investors don’t know shit. Continue reading »
Chief Executive Officer/Sniffer
As the owner of a construction business, the housing market’s turn for the worst is 2008 spelled trouble for David Llwelleyn. After he was forced to close up shop, Llwelleyn found himself at a crossroads faced by many victims of the recession– take some soulless gig just because it was available and paid the bills or use the time to figure out what he really wanted to do with his life.
They say when one is trying to determine what that might be, the best thing is to do what you love– it won’t feel like a job, you’ll be able to put in many more hours than if it were just another slog to the finish and along the way, all the hard work might pay off. When Llwelleyn sat down to figure out which passion he conceivably turn into a career, he kept coming back to one thing– his love of crack. He picked himself up a business partner and it was off to the races.
The 49-year-old Scotsman didn’t go into the illegal drug trade. Instead, he entered the so-called “legal high” business—a burgeoning industry producing new psychoactive powders and pills that are marketed as “not for human consumption.” Mr. Llewellyn, a self-described former crack addict, started out making mephedrone, a stimulant also known as Meow Meow that was already popular with the European clubbing set. Once governments began banning it earlier this year, Mr. Llewellyn and a chemistry-savvy partner started selling something they dubbed Nopaine—a stimulant they concocted by tweaking the molecular structure of the attention-deficit drug Ritalin.
But is the knock-off stuff as good as the real deal? Nopaine “is every bit as good as cocaine,” Llewellyn assures. “You can freebase it. You can snort it like crack.” As for other questions potential investors might have about the business, Llewellyn has answers. Continue reading »
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
