Portfolio managers at Stanley Druckenmiller’s Duquesne Capital Management are reportedly launching their own hedge fund after Duquesne shutters. Druckenmiller will be an investor in the firm, but no word yet on which managers will be involved in the new project.
Twice this week, curt customer service at a Chase bank has reaped positive rewards. Two branches in Midtown avoided robberies when, after being slipped demand notes, their tellers ignored the threat and walked away.
The son of the man who is credited as the father of hard-core pornography, is being sued by investors and creditors for having “drained the financial lifeblood” of Private Media Group, a publicly traded porn empire founded by the Swedish father and son. Allegedly, Berth Milton Jr. pilfered more than $10 million from the Nevada-based company, gave himself $600,000 without approval from the board, and fired the CEO when he started looking into Milton’s shady activities.
Goldman Sachs‘ Asset Management unit told their high-net-worth clients to dump gold. No biggie. Only problem is that meanwhile, their precious metals analysts are telling Goldman’s not-so-deep-pocketed clients that gold prices are rising and will reach $1,300 an ounce in the next 6 months.
UBS is launching a new ad campaign to repair damaged relations with an unhappy client-base, especially those at the private bank, reports the WSJ. The flagship is “still leaking assets,” and the firm’s management said “we know that it will take more time and even more effort on our part before we fully regain the trust of our clients.” The new slogan: “We will not rest.”
Bright young Wall Street hopefuls are getting desperate; they’re not even bothering to apply for jobs anymore – they’re heading straight to Craigslist. Check out the ad placed by a “young, ambitious MBA student” on the sites Casual Encounters section, asking the respondent to find her a job before she “proceeds to anything.”
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