Wednesday, 22 October 2014
Last updated 14 hours ago
Jun 4 2012 | 12:45pm ET
Saba Capital Management founder Boaz Weinstein has some fancy new digs in which to celebrate his lucrative victory against JPMorgan Chase in the latter's $3 billion (and growing) trading disaster.
The former Deutsche Bank trader has agreed to pay $25.5 million for the Fifth Avenue apartment formerly owned by the late copper heiress Huguette Clark. And unlike previous parties interested in the 14-room penthouse—namely, the prime minister of Qatar, who offered $31.5 million—Weinstein and his wife, Rhodes Scholar and assistant U.S. Attorney Tali, won the approbation of 907 Fifth Avenue's notoriously tough co-op board. The couple have been negotiating for the digs since they went on the market in March.
The oak-paneled apartment is in need of some serious renovation, the New York Post reports. The reclusive, eccentric Clark, who died last year at the age of 104, had not lived in the apartment—or at two others she owned in the building—in decades. But her doll collection did, and she paid a cleaning staff to pay weekly visits to the apartment to keep both cleaned and maintained. First on the list of upgrades include the electrical system and plumbing.
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 ...