Being called to testify before the U.S. Congress did little to help him lure clients, said Tilden Park Capital Management CIO Josh Birnbaum, whose hedge fund nonetheless managed to top the industry in 2012. Asked whether his testimony regarding his role in then-employer Goldman Sachs's $3.7 billion windfall in betting against the subprime housing market had hurt his business, Birnbaum said, "Without a doubt." "You go back to that period in 2010, when we were just getting our firm rolling, and nothing stops the momentum of a hedge fund like appearing in front of Congress, so there's no question that that slowed us down," he said on "Fast Money." [CNBC]
T. Boone Pickens Is Mortal, But BOON Shall Live On Forever
The wildcatter-cum-cowboy-cum-corporate-raider-cum-energy-hedge-fund-manager will corporally transform into an ETF.