Joe Montana goes down

Discussion in 'Wall St. News' started by Maverick74, Feb 14, 2011.

  1. Maverick74


  2. BCE


    Interesting. Thanks for sharing that.
  3. zdreg


    +1 thanks
    it is a case study for hedge fund failures. a thread on that subject could prove to be useful particularly to students of financial history and/or people with hedge funds or looking to start one.
  4. Do you own a pair of those curved-sole shoes that Joe endorses? :confused:
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  5. BCE


    Sometimes when I think of him these days it's in relation to these shoes. Sad. Ha. They must have paid him big money to push them.
  6. Roark


    The hedge fund needed a different business model. What they should have done was offer useless, over priced training to former athletes that wanted to be traders. Sort of a prop-firm model on steroids for former steroid abusers.

    They could have got that idiot ex-baseball player from the to provide training for options trading.
  7. zdreg


    joe montana goes down
  8. AK100


    It's not hard to look good in a bull market is it?
  9. Maverick74


    I understand that you are joking but think about that for a minute. They were running 8 billion dollars. They were collecting 1 and 5. Say they made 10% a year. That's 120 million a year in fees. Over 10 years they collected over a billion dollars in fees. How the hell would they ever make that kind of money teaching guys to trade? Seriously, these guys made out like bandits as they usually do even if the fund goes up in smoke. Heads you win, tales you win.
  10. fhl


    I don't see how they escaped some type of civil or even criminal legal problems for transferring their personal debts to the funds limited partners.

    And, in light of their doing that, it makes this statement by Harris Barton kind of peculiar:

    “At the end of the day, my name was on the door, so I’ll take the hit,”
    #10     Feb 15, 2011