When Bear Stearns went down for the dirt nap three years ago to the day (more on the anniversary later), many people assumed having the firm listed as a one-time employer on the résumé would be the equivalent of pulling a Merrill, i.e. it would make you categorically unemployable. Apparently these people had never heard of a guy named John Meriweather who, despite being forced to sign up investors for his latest fund down at the dog track, is proof positive that you can blow it or work for a place that (spectacularly) blows it and it will in no way affect your future prospects. According to Bloomberg and former BSC chairman Ace Greenberg, most Bear execs have “landed on their feet.” Read more »
Before all you naysers go to town about how it would be outrageous for him to be allowed to ever come within 100 feet of another pooch, let us look to the lessons of John Meriwether, which can be applied to most life situations. Read more »
Dealbreaker faithful, an exciting opportunity is upon us. Does everyone remember money manager Albert Hsu? To refresh, the co-founder of fund of funds Anchor Point Capital went away in 2007 after it was revealed that he went on to a site called CollarMe.com and posing as his ex-mistress, placed an ad seeking an undesired (on her part) “real-life abduction and rape scene,” after she told them they should see other people. Just before he began serving his two and half year sentence, Hsu told the Stamford Advocate that he hoped to return to investing after being released from prison. At the time, we ran a poll asking if, given a chance to put money with a recently paroled sex offender, you would sign up. Now that the opportunity has presented itself, I’d like to revisit that question.
For the purposes of due diligence, a few more details about Hsu:
* His new venture is called Tao Investments and was founded in May (he’s also got a consulting biz on the side, catering to “clients i need of professional investment management experience”)
* The equity options strategy is up 15% year-to-date
* He gets that there are some trust issues to work through, telling FINalternatives that on account of the whole attempting to have his lady friend raped and murdered thing, he faces “some credibility issues” Read more »