This year’s hedge-fund shindig ‘low energy’ as industry swoons

D

dealmaker

upload_2017-5-19_17-7-0.gif

SALT conference founder Anthony Scaramucci delivers opening remarks earlier this week.REUTERS
MORE ON:
SALT CONFERENCE
Jeb Bush complains of 'fake news' about his Marlins bid
Ackman: 2-and-20 doesn't work anymore for hedge funds
Investors should be all smiles at this year's SALT conference
Investors could yank as much as $500B from hedge funds in 2016
LAS VEGAS — Working at a hedge fund isn’t the party it used to be.

The annual Skybridge Alternatives Conference for hedge funds, known as SALT, was lavish as ever, with free-flowing booze, a roster of guests like Joe Biden, David Cameron and Mike Tyson, and a late-night concert from Duran Duran.

Nevertheless, several attendees noted that SALT this year was somehow “low energy” — and they weren’t just talking about former Florida Gov. Jeb Bush, who spoke at the event on Friday.

Indeed, SALT founder Anthony Scaramucci didn’t seem quite as ubiquitous and bright-eyed as he did at last year’s event. More than once, “The Mooch” spoke of dusting himself offafter his promised White House gig did not “materialize.”

Meanwhile, Bill Ackman of Pershing Square Capital admitted that he has something to prove after years of negative returns, and — in a surprise appearance Friday — Jon Corzine admitted feeling “remorse” of the blowup of his fund MF Global in 2011.

http://nypost.com/2017/05/19/this-years-hedge-fund-shindig-low-energy-as-industry-swoons/
 
"It was telling that sightings of kingpin Stevie Cohen lurking the hallways created more buzz than most of the speakers — despite the fact Cohen remains barred from the industry until next year under a settlement with securities regulators."

Stevie can't wait to get his hands on other peoples money and return 1%...
 
sle said:
Well, the returns of Point72 have been rather nice. That's his personal money, too.
More...

Both Jack Schwager and Tom DeMark have said that Steve Cohen is the best trader they have seen but he has had lousy returns last year which may imply, his trading prowess came from inside information.
 
2-20% should be replaced with 1-10%.

Better yet, incentives kick in only after a hurdle rate like in many private equity firms.

To give a little booster, returns over say 15-20% can qualify for the 20% incentives.
 
You must log in or register to reply here.
Back
Top