Just 36 hours ago, a bunch of DE Shaw employees were under the impression they had jobs. Yesterday afternoon, they were informed such was not the case, when the hedge fund canned ten percent of its staff, including partners and portfolio managers. Right about now they're probably very confused and very angry. At least half of those axed likely attempted to find out the home addresses of whoever gave them the boot and half of those probably went to far as to show up at said houses and thinking about knocking on the door to have words. At least one lawn jockey was probably pissed on. But people, please. Lay off David and Co's asses. They're having just as bad a week as you.
The firm, which uses computer models to trade markets, may also be feeling investors' wrath after limiting investors' access to their cash during the crisis, added the investor, who said they had been trying to withdraw money for some time. "My feeling is that they haven't been rushing to return money to investors," the investor said. "We haven't seen an investor-friendly process."
They shouldn't have to take it from both ends.