Alongside other “fictitious graduates” like Meredith Grey of Grey’s Anatomy, Mad Men‘s Pete Campbell, Michael Corleone and Count Chocula. Continue reading »
sad trombones
Retired NFL Player Turned Failed Money Manager Self-Conscious About His Investing Skills
By Bess Levin
“It worked for nine years, but mistakes were made,” Harris Barton, 46, says as he sips a coffee at an Italian restaurant in Palo Alto, California. After the demise of HRJ Capital, the firm he co-founded with Ronnie Lott of which Joe Montana was a partner, he says he was embarrassed every time he walked into a place like this in Silicon Valley. “I felt like everyone was looking at me and saying, ‘There he is, the dumb athlete who couldn’t manage his firm.’” [Bloomberg]
Last Friday, hours after a report in the Wall Street Journal claimed FrontPoint’s Steve Eisman was weighing leaving the firm, Eisman put out a statement saying that by “I want to have more control over my destiny” he simply meant “I am in discussions on a structure which will provide me with greater operational flexibility and control over my own business” and that he and Eisman are two souls, one body “now.” And by now he might literally right now, this second. Next week, month, year is anyone’s guess, with sources saying Eisman “will exit before year-end.” But don’t hang those heads too low, FrontPointers. Steve did throw the firm and its investors this (sad trom)bone. Continue reading »
Two months ago, in light of the possibility that the majority of your bonuses would be paid out in stock this year, Smith & Wollensky took out the following ad in the New York Times. Continue reading »
I’ve been wondering for some time now whether or not being employed by Madoff Securities when Bernie made his big reveal would be the professional equivalent of pulling a Ping, i.e. taking a piss in an underling’s mouth, i.e. would it make it difficult for you to find future work at a firm that doesn’t have the sort of outside the box thinking that allows for such things. Apparently, the answer is yes, particularly if you share DNA with the Ponz Master. Yes, my pets, it’s true– Mark and Andy Madoff, employees 2 and 3, sons 1 and 2, have been having difficulty finding work. Like they have a bad rap or something. It’s gotten so bad that they might just have to start their own firms. They’ve also started crying in front of other people, as is their wont.
Mark Madoff, who worked at Bernard L. Madoff Investment Securities LLC for more than 20 years, climbing up the ladder to director of proprietary trading, recently met with at least two Wall Street contacts to get their opinions on whether he could find another job in finance, people familiar with the discussions say. He talked about working on a trading desk or in trading technology, asking one person to keep him in mind if he hears of any openings.
“He’s untouchable in any firm that deals with the public,” says someone who talked to Mr. Madoff. He was near tears while describing his feelings about his father, the person added, asking why anyone would bring his son to work at a crooked investment firm. Another person approached by the 45-year-old Mr. Madoff was told by his lawyer not to respond.
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