Skip to main content

Hedge Fund Manager Wants 35 Percent Of Ex-Wife's Shoe Collection For Reasons Not Entirely Clear

Daniel Shak is the founder of SHK Management, a hedge fund that reportedly "pulled the plug on its sole investment, spread trades on Comex gold futures," last year. Daniel Shak is also the ex-husband of Beth Shak, who he divorced three years ago and is now suing for allegedly hiding assets in an attempt to cheat him out of settlement money. The assets in question? Twelve hundred pairs of designer shoes, which Shak claims his former wife "hid" from him in a "secret room." The way DS sees it, the footwear collection, which includes "Christian Louboutins and other high-end designer shoes" is worth approximately $1 million and he wants at least 35 percent. The way Beth Shak sees it, this is crazy (“I’m shaking my head over this whole thing,” she told reporters. “He is saying he didn’t know the closet in our master bedroom existed") and she doesn't understand why her ex is going after her shoes now. At this time there appear to be a few possible explanations: a) Daniel is raising money to re-launch his fund (he told the Journal, after liquidating SHK in January 2011, that he'd be "trading again in a few weeks," though it's unclear if that happened). b) He's got gambling debts to repay ("A poker lover himself, he was reached at a card table yesterday but declined to comment"). c) He and John Mack are going to sell them out of the back of a truck. d) He just really appreciates women's shoes. e) Other Hedgie sues poker pro ex-wife over her 1,200-pair designer shoe collection [NYP] Related (...?): Hedge Fund SHK Liquidates, Rattles Gold Market
  • Author:
  • Updated:
    Original:

Daniel Shak is the founder of SHK Management, a hedge fund that reportedly "pulled the plug on its sole investment, spread trades on Comex gold futures," last year. Daniel Shak is also the ex-husband of Beth Shak, who he divorced three years ago and is now suing for allegedly hiding assets in an attempt to cheat him out of settlement money. The assets in question? Twelve hundred pairs of designer shoes, which Shak claims his former wife "hid" from him in a "secret room."

The way DS sees it, the footwear collection, which includes "Christian Louboutins and other high-end designer shoes" is worth approximately $1 million and he wants at least 35 percent. The way Beth Shak sees it, this is crazy (“I’m shaking my head over this whole thing,” she told reporters. “He is saying he didn’t know the closet in our master bedroom existed") and she doesn't understand why her ex is going after her shoes now. At this time there appear to be a few possible explanations:

a) Daniel is raising money to re-launch his fund (he told the Journal, after liquidating SHK in January 2011, that he'd be "trading again in a few weeks," though it's unclear if that happened).
b) He's got gambling debts to repay ("A poker lover himself, he was reached at a card table yesterday but declined to comment").
c) He and John Mack are going to sell them out of the back of a truck.
d) He just really appreciates women's shoes.
e) Other

Hedgie sues poker pro ex-wife over her 1,200-pair designer shoe collection [NYP]
Related (...?): Hedge Fund SHK Liquidates, Rattles Gold Market

Related

News

Woman Whose Ex-Hedge Fund Husband Demanded A Cut Of Her Shoes Just Rubbing It In His Face At This Point

Back in June, hedge fund manager Daniel Shak sued his ex-wife, Beth, over assets he claimed she'd hid during the couple's divorce. Said assets were Beth's shoes, which Daniel alleged were kept in a "secret room" and were worth approximately $1 million, 35 percent of which he wanted. It was a bit unclear as to why he was going after the footwear collection three years after the two split (though using the proceeds to relaunch his fund was a possibility) but the heart wants what the heart wants. Anyway, today brings just a couple follow-ups on the Shaks, both of which are slightly more exciting for Beth than Dan. 1. He won't see a single pair of Loubs. A civil suit brought by poker professional Dan Shak against his ex-wife, fellow poker pro Beth Shak, regarding her extensive shoe collection was dismissed in a court in New York after Mr. Shak advised his attorneys that he didn’t want to pursue the issue any further...the opening arguments apparently doomed the case in the eyes of the male Shak. Ms. Shak testified to Judge Daniele that her shoe fetish grew as a response to repeated denials of emotional attention from Mr. Shak. “I would not call these shoes a collection, I would call them a sickness at a particular point in my life,” Beth Shak testified to Judge Daniele as she recounted how Dan Shak would refuse her attempts at romantic encounters, according to the Post. “I tried to get him to go to therapy with me, but it just didn’t work,” the Post quotes Ms. Shak as testifying. “I was so unhappy with my marriage that all I did was shop. There was nothing to our relationship…he and I had nothing.” Further into her testimony to the court, Ms. Shak stated that not only did Mr. Shak know about the shoes but even signed off on all the bills as they came before him. After a break following Ms. Shak’s testimony, Mr. Shak apparently had a change of heart regarding the lawsuit. His attorneys informed Judge Daniele that their client wanted to withdraw the case, which Judge Daniele quickly granted. Looking square at Mr. Shak as she dismissed the case, Judge Daniele is quoted by the Post as stating, “Well, thanks for wasting everybody’s time.” 2. She's going into the shoe business! Now that that the suit is over, Shak, who has an image of a pair of Louboutons tattooed just below her waist, is concentrating one what's next — the launch her own line of shoes. Dan Shak Drops Lawsuit Against Beth Shak Following Opening Arguments [PND] Sexy Singles 2012: Beth Shak [Philly]

News

Area Hedge Fund Manager: Leave Harry Alone!

As you may have heard, earlier this week the lovable scamp that is Prince Harry of Wales got in a bit of hot water when he was photographed ass naked in Las Vegas, with a bunch of equally ass naked ladies, following some sort of swim meet with Olympic gold medalist Ryan Lochte. Those photographs, some of which involved a billiards table and pool cues, were subsequently run on the covers of various newspapers and the Queen, being none too pleased, told her grandson to get on the first flight back to London (apparently in a tone so scary he knew she meant business and "did not mingle with other passengers," instead remaining "in the upstairs cabin of the 747" to think about what he'd done). While it's unclear what kind of punishment the Queen has in mind, or if she's yet delivered the sort of tongue lashing generally reserved for naughty Corgis and her subjects at RBS, in the meantime many have come to the prince's defense and advised the old lady to back off, like the hedge fund manager the Times found on the tube who thinks the Queen should relax and have a good laugh about it. She'd be doing the same thing if Prince Philip ever gave her a weekend off. Among people surveyed at random in central London, including subway commuters reading about the Las Vegas incident on the front page of the tabloid the Evening Standard, the verdict was mostly thumbs-up. “I think it’s quite funny,” said John Daniels, 46, a hedge fund manager. “I’m sure most people would like to be doing exactly the same thing, especially in Vegas. This is his own private time and people shouldn’t be taking photographs of him.” For Prince Harry, Vegas Exploits Didn't Stay There [NYT]

News

Ex-Hedge Fund Manager Forced To Sell Beloved Teddy Bear Collection

News

Ex-Hedge Fund Manager Paul Greenwood At A Crossroads

Hedge Funds

Dan Shak Could Really Use His Share Of His Ex-Wife's Shoe Collection Today

getty images
News

Hedge Fund Manager Who Spent Investor Funds On Prized Teddy Bear Collection Gets Five Years Lopped Off Sentence

Teddy-loving Paul Greenwood will be home sooner than he and his beloved stuffed animals thought.

News

UK Hedge Fund Manager Sets Unreachably High Bar With Resplendent Private Residence For Chicken Friends

Crispin Odey is the founder of Odey Asset Management, a sausage brand ambassador, and a guy who unwittingly made fellow hedge fund manager Philip Falcone's life* a living hell when he pulled this stunt: ...Odey has upped the ante for poultry accommodation – he’s building a temple for his chickens for which the stone alone costs £130,000. The Palladian-style chicken house, designed by Christopher Smallwood Architects, has won planning approval from the Forest of Dean District Council, and will sit on the hillside above Eastbach Court, Odey’s Grade II-listed home. The temple’s roof – adorned with an Anthemia statuette – will be fashioned in grey zinc; the pediments, cornice, architrave and frieze are in English oak; and the columns, pilasters and rusticated stone plinth are being hewn from finest grey Forest of Dean sandstone. Naturally, the doors will be painted in the Odey Asset Management founder’s favourite Hague Blue – “to match the doors around Eastbach Court”, according to the plans...“The temple will be a lovely place when it is finished at the end of the year,” Odey said from a grouse moor. “The chickens will be grand.” Nice for the chickens, but obviously this gesture makes Phil look like a deadbeat by comparison, as he merely allows his pet pig Wilbur to live in his apartment and has never even suggested getting her her own place. You can bet someone will be printing a copy of the article and placing it prominently on top of someone's morning paper, and god help that someone if he doesn't get on the horn about building her the god damn Taj Mahal, ASAP. Crispin Odey’s chickens come home to (a luxury) roost [Telegraph via FT Alphaville] *And the lives of all deep-pocketed animal owners.

News

Hedge Fund Manager Takes Page From "Love Actually" Playbook For Marriage Proposal

Crazy ex-girlfriend be damned!