plans

John Paulson Has A Plan

Does this guy look worried?

Does this guy look worried?

Investors in Paulson & Co.’s Advantage funds did not have a great year. It wasn’t quite 2011, but a 36% loss in no less unpleasant just because you suffered a 51% loss three years earlier.

On the other hand, losing 51% and surviving—nay, thriving—does mean that a 36% loss won’t necessarily kill your confidence. And old J.P., he’s as confident as ever, and has a message for those who lost 36% with him last year or who are having second thoughts about investing with him this year on account of said loss: Read more »

What makeover show in hell?

What makeover show in hell?

Remember Aubrey Lee Price? Georgian banker who screwed investors out of millions, faked his own death, was on the lam for about 18 months, during which time he set up a grow house in Florida and transformed his look from southern banker to the love child of James Lipton and Dave Navarro? Got caught when some local cops pulled him over for having illegally tinted windows? Today he was sentenced to 30 years in prison and will also be ordered to pay approximately $46 million in restitution. How will he come up with the cash? Oh, he’s got a plan. Read more »

  • 20 Mar 2014 at 2:56 PM

Dominique Strauss-Kahn Has A Dream

Dominique Strauss-Kahn, the former head of the International Monetary Fund who last year became chairman of a Paris-traded bank, is planning to raise $2 billion for a hedge fund he’s setting up…The move is part of efforts Strauss-Kahn, or DSK as he’s known in France, has been making to rebuild his post-IMF life after he was charged in 2011 with criminal sex, attempted rape, sexual abuse, unlawful imprisonment and forcible touching of a chambermaid at the Sofitel hotel in Manhattan. Strauss-Kahn, 64, denied the charges, which were later dropped, and he settled the maid’s lawsuit in 2012. Strauss-Kahn joined LSK & Partners last year as chairman to help develop the Luxembourg-based company’s franchises. The hedge fund he’s setting up, called DSK Global Investment, will benefit from “academic research and practical knowledge, both stemming from Dominique Strauss-Kahn’s experience as a public figure,” Mohamad Zeidan, LSK & Partners’ chief operating officer, said in a phone interview from Shanghai.[Bloomberg]

Back in November, UBS worked out a prettay, prettay, prettay sweet deal for itself re: Libor manipulation. Like many another bank, UBS’s employees had their way with London Interbank Offered Rate. Unlike many other bank, which faced stiff penalties for doing so, the Swiss struck an immunity deal with the EU wherein it paid a relatively small fine and then, in exchange for cooperating with authorities and “turning over information about other banks,” found itself in the clear. Anyway, that worked out so well for UBS last time that it’s decided to take the same approach with a new rate-rigging investigation, and save itself a coupla bucks. Read more »

What? Anything is possible and that would be grounds for an all-staff call. You don’t know. Read more »

  • 19 Nov 2012 at 11:47 AM

Layoffs Watch ’12: Citigroup Is On Top Of Its Firings

For those worried they’d fallen behind. Read more »

These things take time. Read more »

Make what you will of this somewhat bizarre story but our takeaway is that the Treasury Secretary’s FIL would make a great party guest and/or Benihana tablemate. Read more »