Tuesday, 21 October 2014
Last updated 5 sec ago
Oct 28 2011 | 11:36am ET
David Tepper was in quite a rush to knock down the $43.5 million Hamptons mansion he bought last year. But the Appaloosa Management chief doesn't seem to feel as much pressure to build a replacement.
Tepper's 6.45-acre oceanfront plot in Sagaponack, N.Y., is currently little more than a hole in the ground, a construction trailer and a port-a-potty, the Southampton Patch reports. Tepper had the site's former digs demolished earlier this year, complaining that the home, less than 20 years old, offered insufficient beach views from the first floor.
Tepper also admitted to taking some pleasure in demolishing a home formerly owned by former Goldman Sachs CEO—and New Jersey governor—Jon Corzine, who passed Tepper over for a Goldman partnership.
Tepper's new home, when it is built, will be twice the size of the original dwelling, with a sunken tennis court, underground three-car garage, a covered porch—and better views of the Atlantic.
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 ...