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Write-Offs: 05.12.10

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$$$ "Everyone in life wants to be loved," Andrew Ross Sorkin answered earnestly. [MarketWatch]

$$$ The Killers will perform at Arki Busson's annual charity ball tomorrow, where you can bid on a Fiat 500 car painted by artist Damian Hirst; an original Richard Prince photograph from his Cowboy series; and a luxury Caribbean holiday with private jets and yachts thrown in. [Telegraph]

$$$Cornell Endowment Chief Plans To Start Hedge Fund [BW]

$$$Socially-Responsible Hedge Fund Aims For 25% Returns [FINalternatives]

$$$ Art is "an anti-currency play," said Los Angeles money manager Jeffrey Gundlach, of DoubleLine Capital LP. "The sale benefited from that." Among those in the packed Rockefeller Center salesroom were fashion designer Marc Jacobs, wearing cowboy boots and a denim baseball cap, author Salman Rushdie and SAC Capital Advisors Chairman Steven A. Cohen, who observed from a skybox. [Bloomberg]

$$$ James Gorman was alone in his 40th-floor office after a Thursday lunch when he saw the market wobbling. He called Suzanne Charnas, his head of investor relations. "Oh, God, what's happening?" they said. Mr. Gorman thought it must have been some kind of mistake. [NYO]

$$$When Warren Buffett Is Your Daddy [NYO]

$$$ Howard Marks's Warning Signs [Scribd]
Warning Flags - Past and Present 05-12-10 _2