Tuesday, 21 October 2014
Last updated 14 min ago
Apr 1 2014 | 5:17am ET
Residents of a luxury condominium building on Central Park West in New York are up in arms over one hedge fund manager's plans to extend his living quarters three floors beneath his current apartment.
Robert Miller of Sky Brook Vale Capital Management is said to have been inspired by London's so-called “iceberg” homes—residences with massive underground basements often covering more square footage than the original house.
A source who has seen the plans for the four-floor apartment said it includes a sauna, gymnasium, bowling alley, home theater, dry cleaners and the city's first home Starbucks franchise.
The problem, say neighbors, is that the apartments Miller plans to expand into are already occupied:
“This is worse than Crimea,” said a man living in one of the three apartments that would be, effectively, annexed by Miller. “I have lived here for 20 years and, while I've seen the odd wall knocked down or ceiling lowered, I've never seen anyone attempt to tunnel three floors below his own condo.”
Neighbors plan to take their complaints about the “super apartment” to the building's board. Miller, who declined to be interviewed for this story, supplied a written statement which said, in part:
“I should think the people downstairs would be happy to be part of a residence as architecturally adventurous as mine, besides which I will give them great rates on their dry-cleaning.”
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 ...