Finance

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What A Hedge fund Manager Doesn’t Want For Christmas: A Porsche


[Steve Cohen says NO to Porsche, YES to coal]

If you’ve been following the markets recently, you’ve probably been hearing all about “bailouts” and banks crumbling.  You’ve also probably heard Jim Cramer inside every New York cab bellowing “Beware of companies that pay ultra high dividends!  In this economy a defense could be your best offense!“  But you may not have heard that hedge fund managers would rather have coal in their stocking this year than a brand new Porsche.

The reason has nothing to do with a paradigm shift in luxury tastes, rather one of the most spectacular wrong hedge fund bets that occurred just weeks ago, a bet that has led to losses of close to $12 billion dollars.  Funds including Steve Cohen’s renowned SAC capital tried to “short” Volkswagen, unaware that Porsche had a massive option and planned to purchase a majority stake because of looser German disclosure requirements.

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December 2, 2008   01:30:39 pm By STANLEY STUYVESANT
Finance |  3 Comments

Everything You Need To Know: Solving A Rubik’s Cube

Unemployed Banker’s Take Note:

Many of you have probably heard the many Banker tales of analysts who can solve Rubik’s cubes in several minutes if not seconds?  In fact some of you might even know an analyst who put it on their resume, only to be tested later during their interview (FYI, if you put it on your resume, you WILL be tested, it’s a fact).  Well you probably only know the guys who passed, cause the ones who fudged it, well they are out of a job.  Then again, given the climate on Wall Street these days, you too are probably out of a job!

Moreover, you are probably desperately searching for that new job, and need a competitive advantage!  No need to worry, help is on the way.  We’re going to give you that razor sharp edge and show you how to solve a Rubik’s cube so you can dazzle that future employer.

Instructional video after the jump… More »

October 10, 2008   11:50:13 am By STANLEY STUYVESANT
Finance |  Add Comment »

Eavesdropping Is What Guests Do Best…

That open was really brave and funny, Anne.
[That open was really brave and funny, Anne. Photo via]

  • Valet Parking for… Strollers [CityRoom]
  • Clam Pizza? Really? [NYMag]
  • “The Beast” Unleashed! [Daily Intel]
  • Flying Penguins! (with a little help from the Brazilian Air Force) [Gizmodo]
  • A new culprit for the money crisis - anti-depressants! [The Daily Beast]
October 6, 2008   10:52:10 am By CHRISTOPHER CONFESSORE
The Guest List |  Add Comment »

Get Your Preppy Lehman Brothers Swag!

Lehman Brothers StressballA simple search on Ebay with the keywords Lehman Brothers uncovers a treasure trove of prep-tastic goodies from the “green monster” that include canvas totes, duffles, hats, a Nalgene bottle, and of course our favorites - the Lehman stress ball and the Lehman Brothers Emergency Evacuation Kit!  The only thing missing from this splendid smorgasbord is a golden parachute.Lehman Brothers Schwag

So will these fashion items become a new trend for the fall, similar to how Bear Stearn’s apparel became the coveted fashion pieces of the moment back in the spring?

I don’t usually like to play the role of a carnival barker, but I have to say,  “get ‘em while they’re hot!” Perfect for a weekend in Nantucket, The Vineyard, or the Hamptons.  That stress ball is just begging to be squeezed. For a wonderful collage of Lehman collectibles you can scoop up, click here, or the picture to the right–>


September 17, 2008   10:00:27 am By STANLEY STUYVESANT
Finance |  Add Comment »

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