Sure, John Paulson’s Advantage funds have taken a beating this year, but other funds under his management are apparently doing just fine.Obama is looking to close tax loopholes as one way to counter rising debt and reduce the deficit, and he’s previously mentioned hedge fund managers, oil companies and corporate jet owners as targets. Possible next stop? Day traders dealing in futures contracts, who only pay about 23% on their profits.
David Einhorn busted out of the World Series of Poker last night.
Banks are offering easier credit terms to hedge funds in an increasingly fierce competition for their business.
Billionaire hedge fund manager George Soros blames the euro crisis on how Angela Merkel directed European countries to handle the financial crisis.
Here are 11 other timely insights from George Soros on the economy.
“Tens of thousands of Bank of America’s most distressed borrowers could be evicted and lose their homes more quickly as a result of a proposed settlement between the bank… and investors.” But others, who aren’t in as bad a shape, may fair better.
Last November, Wrenella Pierre received a condolence letter from Chase regarding her death. “We are very sorry to hear of your loss,” it said. But Pierre is very much alive, and is suing Chase for ruining her credit rating.”
DSK accuser Tristane Banon’s lawyer warned that they had texts and other hard evidence against DSK, whom Banon filed a sexual assault complaint against last week. One of the texts said, “Do I scare you?”
Five years ago, a Chief Risk Officer “typically reported no higher than the CFO,” according to Bloomberg. Now, CROs not only report to directly to the CEO, they’re getting paid up to $10 million, “compared with $500,000 as recently as 2001.”
Todd Halky, an analyst at Balyasny Asset Management, a Chicago-based hedge fund, just purchased an amazing new home Westport for $2.27 million.
Non-Wall Street Bonus
On the weekend Prince William and the Duchess of Cambridge arrived early for an event at Santa Barbara Polo & Racquet Club, “and when they got to the end of the red carpet, the Secret Service shut down the area… That left arriving stars… following on a red carpet eerily devoid of paparazzi.”