Until It Lost Four Times Its Annual Earnings In A Matter Of Minutes, Knight Capital Was Very Profitable, And Guess What, The Company Doesn’t Need Your Charity RegardlessBy Bess Levin
For those of you who failed to mark it down on your calendars, please be advised that today is Vikram Pandit’s birthday (his 54th to be exact). Normally we’d tell you to drop what you’re doing and pick up something for him A-SAP but this year we’d advise you to go the no presents route. Not because Vickles is one of those faux modest jerks who says “no gifts, just your company” while not really meaning it but because we can say with absolute certainty that you will not top the gift to end all gifts Vikula is already poised to receive. Dick Parsons, if you’ll do the honors. Read more »
The latest issue of Bloomberg Markets magazine has the answer to that burning question but first, let’s take a gander at who had the best performance, among large hedge funds.
Congratulations to all for jobs very well done. Unfortunately, with the exception of Bridgewater, none of the above made the sort of money that would qualify them for a spot on the most profitable list, which must be a kick in the pants. Here are the funds that did, which may have had something– not all just something– to do with a little thing that starts with a ‘char’ ends with a ‘ging a fuckton of fees.’ Read more »