Brian Moynihan brought the funny to Manhattan’s Waldorf-Astoria hotel Thursday evening. The Bank of America chief was on hand to receive the first-ever Happy Warrior award at the Alfred E. Smith Memorial Foundation Dinner, where he shared the dais with political dignitaries like Senator Chuck Schumer and New York Governor Andrew Cuomo as well as comedic heavyweight Stephen Colbert. In his remarks, Moynihan cracked a few jokes at the expense of JPMorgan CEO Jamie Dimon and Blackstone Group co-founder Steve Schwarzman that brought the house down.
Greenlight Capital’s David Einhorn, one of the most closely followed managers in the $2.2 trillion hedge fund industry, is out with his latest investment letter and provides another lambasting of the U.S. Federal Reserve for what he describes as short-sighted policy decisions with regards to its continued quantitative easing.
From the frenzied coverage of the U.S. Federal Bureau of Investigation’s takedown of the online drug marketplace Silk Road early this month one story has emerged as particularly popular among Bitcoin insiders: A report from Forbes on Oct 4 said the FBI had tried and failed to seize alleged Silk Road owner Ross Ulbricht’s personal stash of the digital currency, supposedly worth $80 million.
It wasn’t too long ago that Ross William Ulbricht was writing his master’s thesis for a degree in chemical engineering. Now the 29-year-old San Franciscan is looking at spending many years in jail after being arrested by federal authorities on a variety of drug trafficking charges.
It’s hard to say that Bill Ackman came out of the J.C. Penney debacle looking good. But in one regard the hedge fund manager did score a minor victory: he and his Pershing Square Capital Management sold their shares before the bloodbath began in the ailing retailer’s stock.