Former Citadel employee, Joe Russell’s hedge fund looks like kind of a flop right now. He filed with the SEC that since Q2, he’s found 18 investors for his new hedge fund, Bell Point, who invested a total of $83.7 million. Russell used to be a managing director and portfolio manager for the Credit Opportunities Fund within CSFB. Before that he worked at DLJ and Bankers Trust. Then he joined Citadel and was the key driver behind Citadel’s $2.55 billion investments in E* Trade (Maybe ouch, maybe not). And so far, his hedge fund has only attracted $83 million. (But also, who knows – the 18 investors might just representative an initial, family and friends-only launch or something.)
Apparently everyone’s now reading a (formerly) little-known book because it was recommended by Warren Buffett. The book is “Money Never Dies” and it was written in 1975 by Adam Fergusson, who advised the Tory minister Lord Howe. The book charts how the German economy was ruined by hyperinflation after the Weimar government allowed public spending to run out of control. (Via eWallStreeter)
Scott Brown is probably going to vote yes for financial reform.
A fake prince who pretended to own a bank and used to “walk around SoHo in banker-style suits. It was always very preppy with expensive, intellectual-looking spectacles,” just got busted. He also sometimes wore a hairdryer on his belt like a gun and his entire family “wore quirky outfits of lederhosen and bow ties when they walked their rare dog around the streets of SoHo.”
Tonight is Manhattanhedge, the second of only two nights per year when the sun aligns perfectly with the street grid. Good streets to watch are 14th, 23rd, 34th. 42nd, 57th, and several streets adjacent to them. Check it out at 8:24 pm tonight.
Six people were shot dead and four more are now hospitalized at the office of a fibre optics company Emcore fibre Optics, in Albuquerque. The shooting happened in a conference room.