Tuesday, 21 October 2014
Last updated 11 hours ago
Jun 30 2011 | 12:11pm ET
David Tepper alerted his Hamptons neighbors that money is no object for him when he demolished the $43.5 million mansion he bought last year. But has the Appaloosa Management founder found a more surreptitious way to parade his wealth?
A customer at East Hampton Village's Capital One Bank branch found an ATM receipt sticking out of the machine showing a whopping $99,864,731.94 balance. And the customer on the evening of June 18 was none other than Tepper, Dealbreaker.com reports.
Tepper, or some other well-heeled Hamptonite, withdrew $400 from the machine, paying a $2.75 fee.
Tepper denied that he is the man with the $100 million savings account balance, telling the New York Post that he "hadn't used an ATM since Lehman" Brothers collapsed, and that he "wasn't in the Hampton in June at all." Plus, "I would never do something as irresponsible as leaving $100 million in a savings account."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...