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Journalism (jour•nal•ism, noun): 1. the work of reporting, writing and editing information, seeking accuracy and fairness
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Masters of the Universe / 02.07.2020

Fairfax and the Hedge Funds

One morning in 2005, an unusual letter arrived for Rev. Barry Parker at St. Paul’s Anglican church in Toronto. The news: A member of his flock was out to swindle the parish. From there, the story got interesting....

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Masters of the Universe / 02.07.2020

Duff Capital’s Bender Ends Badly

Phil Duff had a three-decade hot streak. He earned degrees from Harvard University and MIT and then skipped through the ranks at investment bank Morgan Stanley, becoming chief financial officer in 1994, when he was 36. Hedge fund phenom Julian Robertson hired him four...

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Masters of the Universe / 02.07.2020

Mortgage Metaphysics

For 20 years, Don Brownstein taught philosophy at the University of Kansas. He specialized in metaphysics, which examines the character of reality itself. In a photo from his teaching days, he looks like a young Karl Marx, with a bushy...

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Masters of the Universe / 02.07.2020

Chase Coleman Makes a Killing

Charles Payson Coleman III, known as Chase, is as close as one gets to American aristocracy. He is the heir to a fortune, and he’s made his own....

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Masters of the Universe / 02.07.2020

Andy Beal, Texas Banker

Andy Beal’s road to becoming a billionaire, doing deals with the likes of Carl Icahn and Donald Trump, runs straight through the slums of Newark, New Jersey....

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Masters of the Universe, Corporate America / 02.07.2020

Citigroup, Unhedged

Vikram Pandit knows one way to make big money in hedge funds: sell them. In July 2007, Pandit sold Old Lane Partners LP to Citigroup Inc. for $800 million and pocketed $165 million for his stake. Then he took over the...

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Masters of the Universe / 02.07.2020

Alice Handy 1, Harvard 0

Prescient bets against the stock market have helped endowment manager Alice Handy regularly beat the Standard & Poor’s 500 Index. Handy, who manages money for Smith, Barnard and Middlebury colleges at a firm she founded called Investure LLC, has also...

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Masters of the Universe / 02.07.2020

Bob Sillerman, Wall Street Idol

Media baron Robert F.X. Sillerman had a great run until he tried to break into real estate with Elvis Presley....

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Masters of the Universe / 02.07.2020

The World’s Pain Is Paulson’s Gain

The subprime crisis that’s caused so much trauma for hedge funds and investment banks has brought only good news for John Paulson. He’s the manager of more than $7 billion in hedge fund money keyed to mortgage credit. Paulson started warning his investors...

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Masters of the Universe / 02.07.2020

Pirate Tom

Tom Hudson and his pirates had a blunt message for Canadian ski-resort owner Intrawest Corp.: “Surrender the Booty.” It was March 2006, and Hudson, who runs a hedge fund firm called Pirate Capital LLC, spied treasure at Vancouver-based Intrawest. Its...

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