The San Francisco Fed president, like all of his colleagues, thinks the markets didn’t quite grasp what Ben Bernanke was saying a couple of weeks ago when they started selling everything in anticipation of an immediate (if imagined) beginning of the end to the central bank’s bond-buying program. But miscommunication can have salutary effects. Read more »
Are you a down on your luck hedge fund manager who hasn’t had a good and/or original idea in a while? Did you get your face ripped off the last two years by going the wrong way on everything? Do you sense that your investors are only sticking around to be nice and/or because you won’t let them leave but will desert you the second you give them an option better than illiquid shares of a walkie-talkie passion project, unless you come up with something and fast? Then you might want to consider sticking their money in this: Read more »
Earlier this week, we took a serious look at a sport beloved to a certain hedge fund in Stamford, CT: ping pong. Second only to trading and hunting humans, p-pong is the pastime that is often cited internally as the secret to this firm’s success, the practice of which has made what started out as a 2-bit boiler room into the powerhouse fund it is today. A prescient call, as today Bloomberg has published an article quoting table tennis experts on ping pong being the hottest new thing in the business community.
“It’s like a real-life version of LinkedIn,” says founder Peter Farnsworth. “We’re bringing the business community together through pingpong.”
According to Alan Williams, of sports management firm North American Table Tennis, “Everyone who plays table tennis [will] live longer, be smarter, and be more attractive.” While true, this affirmation did not please our hedge fund manager who, as we all know, is above all else a trend-setting icon, not a follower. He doesn’t hop on bandwagons, he builds them from the ground up (see: skinny jeans) and the burns them down when others pile on, years later. Read more »