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Sen. Chuck Grassley Will Tell You When and How To Make Charitable Donations, Thank You Very Much

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Thinking of doing something for the good of humanity (and the tax break)? Whatever you do, don’t give your money to the Robin Hood Foundation, that scam of a charity where people like Paul Tudor Jones are outright thieving from the impoverished people of our fair city. How so? Well, half the money in Robin’s rainy-day fund, which has grown from $20 million to $144.5 in less than ten years, is invested in hedge funds run by Robin Hood donors or board members (Jones, Blankfein, Stevie Cohen, Dick Fuld, Jeff Immelt, Robert Pittman, other plebes), who collect 2 and 20 for managing the donations to the fund. Ergo, these snakes are walking into homeless shelters and robbing the places blind, Pittman especially.
Robin Hood’s 2005 tax filing shows that a stake in Tudor BVI Global Fund Ltd. Grew to $10.07 million from $8.78 million a year earlier, and that an investment in the Tudor Futures Fund grew from $5.03 million to $5.76 million. A stake in SAC Capital International Ltd. ballooned from an initial $15 million in 2004 to $23.9 million by the end of 2005.
David Saltzman, Robin Hood's executive director, claims that both Jones and Cohen (and the crooks they have on payroll) were paid for services rendered because their funds “don’t allow for charging some investors and not others.” But what do you expect him to say? He’s employed by people who steal from the needy. Grassley, in all his “I don’t take no sh*t from no hedge funds” glory, offered: “I don’t remember Robin Hood keeping two and 20 as his cut,” which makes him sound pretty, pretty, pretty bad ass, until you realize that Robin worked for James Simons and actually took 5 and 44 as his cut, and Grassley’s just ignorant. (I went there).
Robin Hood Nest Egg Draws Scrutiny From Congress [Bloomberg]


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As we have discussed at length, when it comes to the art of regulating one's emotions while investing, there are two models to choose from: The Dead Inside paradigm, wherein you remain calm, cool, and collected, maintaining the same expression on your face whether you've lost $1 billion on one trade or made three times that much on another; and The Bill Ackman. The mega-successful Pershing Square founder imbues emotion in everything he does, particularly when it comes to his job. As a man who wears his heart on his sleeve, in the past Ackman has been known to: cry at shareholder meetings; get extremely heated to the point of his face becoming "flushed," his eyes "misty" when meeting with SEC investigators; pen "long, emotional, late-night missives" to top SEC brass; and erupt on directors of companies with such passion that his "furious outburst" could be "heard in an outside hallway." As there are few on Wall Street who exhibit such raw emotion while conducting business, and there is a propensity by some to employ tactics that will put them in the power position when facing foes, perhaps it should not come as too much of a shock that recently, a reporter asked Ackman whether or not the waterworks or displays of indignation are pre-planned, in front of a mirror. For those who've long known Ackman has more integrity in one salty tear than most have in their entire body, his answer will not come as a shock, but to set the record straight, for anyone holding out hope of seeing him do a little regional theater at some point in the future: