Another crazy week everywhere: the markets, politics and not least the future of the republic. We just can’t catch a break. Republicans are slicing each other to shreds in the fight for their nomination, a smaller number of Democrats are doing the same, and before you know it, the two
Everybody knows that things are strange at Bridgewater Associates LP. The stories of its confrontational meetings, its banning of cell phones, the instant feedback on superiors and subordinates are of part of the legend of the firm. But the article in Friday’s Wall Street Journal takes it to a new
One of my favorite films is the Newman and Redford classic Butch Cassidy and the Sundance Kid. It’s almost a perfect movie. One of my favorite scenes is when Sundance reveals that he doesn’t want to jump off the ledge because he can’t swim and Butch so eloquently says, “Why,
Everybody is down on the markets these days, except for me. True, I do believe the economy is weak and that there is little if any real job growth, but that being said, there are still opportunities out there and now is the time to start evaluating them. That being
Just so we’re clear, the reason investors choose hedge funds, private equity funds, venture capital funds, mutual funds and other investment vehicles is that they’re looking to make money. I know this may come as a shock to some people, especially the ones who write for the popular press, but,
I take two weeks off from writing and nothing changes. Not sure if that is good or bad, but at least it is a bit amusing. Leading up to the holiday break, the papers (that is my blanket term for print and broadcast media) have been filled with stories of
It is clearly a crazy time, both in the markets and politically, around the globe. The markets are befuddled by the Federal Reserve’s interest rate hike, slipping equity prices and oil sliding lower daily. If that weren’t enough to keep people up at night, the increased threat of terrorism and
Once again the popular press has come out against hedge funds and the lack of performance year to date. Congratulations, Barron’s and Forbes, you are now part of the club of financial journalists writing the same story over and over again. Whether performance is good, bad, or indifferent, hedge funds
The sharks have smelled blood in the water, are circling, and are ready to chomp. Clearly, there’s excitement in newsrooms across the globe over a number of well-known hedge fund managers having once again suffered significant losses in November and that their year-to-date performance is abysmal at best. I won’t
I highly suggest reading Jason Zweig’s “The Intelligent Investor” column in last Friday’s Wall Street Journal. It‘s a great piece about why investors need to be wary of hedge replication products and other types of investments that track or follow well-known investment managers. He astutely points out that there is
The recent spat between Charlie Munger and Bill Ackman is quite amusing. Doesn’t Mr. Ackman know this is one battle that he can’t win? Regardless of whether he is right or wrong, to attack the Oracle of Omaha and his partner is like attacking Santa Claus. Buffet and Munger are
Hedge funds are clearly the evil that men and women do that live on and on. It is clear from recent reports in the media, comments from both sets of Presidential candidates, comments from the new Speaker of the House, comments from other members of the House and Senate, and
I am passing up the opportunity to write about hedge funds this week because, frankly, there isn’t anything to say. Performance has been poor; investors are complaining, rightfully; the press is balking at manager acumen; so, what is new? The answer: Nothing. Things in the industry are status quo. Big
Grant Achatz has become the latest top chef to embark on a culinary world tour, with plans to take his triple Michelin-starred restaurant Alinea to the foodie elite in Madrid. The move is scheduled to take place next January and will involve flying out his entire team to the Spanish
As summer draws to a close, the kids are back in school, the U.S. Open is over, the NFL playing for real (with TWO Monday night games) and anti-hedge fund rhetoric is everywhere. All the pundits seem to be over the top with joy that the funds were hit badly
TESLA is testing its latest autopilot feature with the electric car’s upcoming semi-autonomous tech being tested by Model S drivers. With the help of a camera, radar and an ultrasound sensor, the autopilot function includes automatic alignment behind other vehicles in all directions, a programmed adherence to speed limits and
Adidas has joined forces with Parley for the Oceans to produce their first concept shoe made from reclaimed materials from the ocean. Hosted by the United Nations, on June 29 Adidas celebrated its partnership with the organization Parley for the Oceans and showcased the result of their collaboration: footwear made
A Japanese company has created a limited-edition eel-flavored soda as a ‘refreshing’ summer treat. Produced by Kimura Inryou, a company based in Shizuoka Prefecture, which is famous for its unagi (eel), the drink is made of eel extract and bottles the salty, fishy, savory flavor of grilled, barbecue eel in
In addition to hitting the skies in May with a limited helicopter service for Cannes; Uber has now launched “UberBoat,” a private ferry service, in Istanbul, where it has had a presence for one year. It has teamed up with sea transport company Navette on the project. The speed boats
Dubbed an insta-zine by the Scottish distillery, the new issue of ‘W’ will offer news and insight in a way it hopes will chime with the design and technology conscious as well as the latest generation of whisky lovers. Split into three sections, issue one will examine the women changing
A 200-word essay and $125 is all it will take to become the proud owner of a bucolic New England inn, says its owner, who won the establishment in the same way. For more than two decades, Janice Sage has run the Center Lovell Inn, a majestic bed and breakfast
Uber has reached an exclusive partnership agreement with Hélipass to offer flight reservations between the Nice-Côte d’Azur airport and Cannes at 160 euros a pop. According to French channel BFMTV, this first-of-its-kind service in France will be tested out during the Cannes Film Festival, which runs May 13-24. THE UBER
New York’s powerful banking regulator announced Thursday its first license for a Bitcoin exchange, extending its influence over the growing but little-regulated virtual currency industry. New York City-based itBit Trust Co. was the first company dealing in so-called crypto-currency to receive a trust license from the state Department of Financial
Four Seasons has just revealed its completed private jet that it announced last year. This Boeing 757, equipped with a Rolls Royce motor, has seats for 52 passengers and has been luxuriously customized by a host of designers. The reclining white leather seats were handcrafted by Italian VIP aircraft seating
I hate to say it — in fact I don’t think I’ve ever said it in the more than 20 years that I’ve been working in and writing about hedge funds — but we might be at the top. The bloom, as they say, might be off the rose. You
Italy’s railway has renovated four lines that had fallen into disrepair, hoping rides along picturesque routes in 1920s steam trains will attract tourists. Officials said the objective is the development of a form of “slow tourism”, inspired by the slow food movement, that seeks to promote the different facets of
The ridiculousness of the uber riche hit an all time high this week in Japan and Qatar with purchases that show stupidity rather than status. Normally on the Good Life we highlight over-priced uber luxe living but millions for a special car number plate and thousands for two mangos… Super-rich
Unless you’ve been living under a rock for the last decade or so, you haven’t missed the continued bashing of all things alternative by the mainstream press. Every day one news organization or another has something on how these managers are all the evil that people do. Alternative managers have
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