so that’s something

Bob Gross The Cat, who rose to prominence as an honorary CIO of the world’s biggest bond firm and had the uncommon intellectual capability to understand when her owner was on television, died last week. She was 14 years old. Bob is survived by her loving masters, Bill and Sue. Read more »


[via @cgasparino, earlier]

  • 25 Oct 2013 at 3:12 PM

Mike Novogratz Thinks Bitcoin Is Great

Financial advisers who gathered in New York to hear leaders of the asset management industry impart their best investment ideas for the year ahead were given a surprising tip by one prominent hedge fund manager: Bitcoin. Michael Novogratz, co-chief investment officer of macro funds at the $55bn Fortress Investment Group, used a panel discussion on the prospects for emerging markets to trumpet the much-hyped digital currency, which he said could be used as a cheaper way of transferring money in countries with weak banking systems. Even if that did not come to pass, he said, there could be money to be made from a Bitcoin bubble along the way. Speaking after his appearance at the UBS Wealth Management CIO Global Forum in New York, Mr Novogratz said that he and another Fortress colleague had taken personal positions in the yo-yoing currency three months ago. Fortress itself looked at the idea. The market capitalisation of the entire stock of Bitcoin in existence is $2.2bn, and Fortress decided it was too speculative an investment for its own funds. [FT]

The uproar over bonuses “was intended to stir public anger, to get everybody out there with their pitch forks and their hangman nooses, and all that–sort of like what we did in the Deep South [decades ago]. And I think it was just as bad and just as wrong.” [MoneyBeat via DI]

Nobody takes fictional Andrew Ross Sorkin for a ride! Read more »

Sayeth Chaz: Read more »

“When I’m working on a book, I’m in a very agitated mental state. My sleep is disrupted. I only dream about the project. My sex drive goes up. My need for exercise, and the catharsis I get from exercise, is greater. When I’m in the middle of a project, whether I’m doing Bikram yoga or hiking up the hill or working out at the gym, I carry a blank pad and a pen. I’ll take eight hundred little notes right in the middle of a posture. It drives my yoga instructor crazy.” — Michael Lewis [BP via KR]