Breaking: Best Part Of Dead Hedge Fund Manager Story-- The Fact That The Deceased Had A Boyfriend Named Tiger-- May Be Untrue (They Might Have Just Gone To The Tracks)


Here's one you (Random Banker) might like-- Seth Tobias's alleged erstwhile boyfriend-- alleged by alleged personal assistant-cum-gay pimp Billy Ash AKA Mr. Madam-- may not have been Seth Tobias's bf at all. Speaking to the New York Daily News after having been forwarded the Times' story last week by the author himself with the note, "Let me know what you think," Tiger, whose real name is Christopher Dauenhauer said that while he's flattered to have his and his club's named mentioned in the story, he's pretty sure he never met Mr. Tobias, unless it was in during a private show in a dark room, in which case, he may've met a lot of hedge fund managers he can't recall (Larry Robbins, Dan Loeb). Tiger, who's really much more of a Tiger than a Chris, says that while he really has zero connection to the case, and was "at work in Nevada" at the time of death, he can understand the confusion. "This guy may have had a fantasy about me...maybe during one of his drug binges, he got into this frame of mind where he built our [a supposed] meeting into a relationship...or maybe he'd seen one of my videos [like "Roar of the Tiger"]." And that all makes sense. But now that you mention it? Tiger says that actually he and Tobias "probably" had sex and there's a good chance Tobias "may have been this one guy I went with to the horse races." Anyway. Cupid's management tells us off the record that the Times has booked a room for the week to get to the bottom of this, so sit tight.
Gay porn star comes clean about link to murdered hedge funder Seth Tobias [NYDN]


A Hedge Fund Trader Named "Baby Arm" Knew It Was All Over After Hearing The Tracks To "The Good Ship Galleon"

As some of you may recall, the day after Galleon Group founder Raj Rajartnam was indicted on insider trading charges, the Post dug up a rap song that had been recorded years earlier called the Good Ship Galleon, commissioned, of course, by party animal Raj Rajaratnam. All we knew at the time was that the artists featured in the ditty went by the names Jesse Jaymes and Cleveland D, but not why this happened or the creative process that went into producing the tune. Lucky for us, Wall Street memoirist and Galleon alum Turney Duff happens to be on a first name basis with Cleveland D because he is Cleveland D, as we find out in Chapter 8 of The Buy Side. Sayeth Mr D:

Louis Bacon Recruits Brother To Have Tough Conversations With Employees Re: The Fact That They No Longer Work At The Firm

One thing you may or may not know about hedge fund manager Louis Bacon is that he likes to keep his human interactions to a minimum. It's not a personal thing, just people in general thing. He doesn't like 'em and he doesn't want to talk to or look at 'em. For example, rather than taking five minutes to tell a subordinate he disagrees with a trade idea, Bacon has been known instead to "retreat to his office and place an opposing trade, a tactic known as 'fading' a colleague." Clients are treated similarly ("During meetings with...investors, Bacon, who often draws the blinds in his private office, frequently turns to his lieutenants to answer questions, often sitting silently through presentations") and if you thought that being, say the fruit of his loins meant special treatment, you were sorely mistaken ("One longtime assistant negotiates annual spending allowances with the elder of his children individually...Once they've agreed on the number, the assistant invites the child for a sit-down meeting with his or her father, during which Bacon usually signs off on the terms"). So it probably did not come as much of a surprise when LB hired his brother, the improbably named Zack Hampton Bacon III, to speak with a dozen or so members of the staff re: security waiting to escort them out of the building. Moore Capital Management LLC, the $15 billion hedge fund run by Louis Moore Bacon, cut 10 to 15 investment jobs as it restructures one of its equity teams, according to three people with knowledge of the matter. The portfolio managers and research analysts were let go on Sept. 11, said one of the people, who asked not to be identified because the information is private. Patrick Clifford, a spokesman for New York-based Moore, declined to comment. “Apart from a few hedge funds, it’s not that typical to see a large reduction in headcount in the industry,” said Ronen Schwartzman, founder of Ten Capital Advisors LLC, a New York- based firm that advises clients on investing in hedge funds. “Performance must be having an impact.” Bacon, 56, hired his older brother, Zack Hampton Bacon III, in February to oversee strategic planning, a person briefed on the matter said that month. Bacon told clients last month that he planned to return $2 billion, or about 25 percent of his main fund, to investors, saying it may be too big for him to generate returns in line with historic profits as “liquidity and opportunities have become more constrained.” On the bright side, no one was "sprayed in the face" with lead pellets, so not all bad. Moore Said to Reduce Positions Amid Equity Restructuring [Bloomberg] Related: Louis Bacon Has Better Things To Do Than Explain How Big An Idiot You Are