DONALD TRUMP, WEST PALM BEACH AND THE RISE OF THE NEW WALL STREET

DONALD TRUMP, WEST PALM BEACH AND THE RISE OF THE NEW WALL STREET

By Leah McGrath Goodman

PBHFA Founder David Goodboy Featured in Newsweek Article

he night I flew into West Palm Beach, a string of deadly tornadoes ripped across Florida. High winds pounded surf against jagged coastline and whipsawed the 100-foot-tall trees along Royal Palm Way—what locals call Bankers’ Row.

It was just a few days after Donald Trump’s inauguration. A couple of miles down the road, seemingly oblivious to the approaching storm, hundreds of revelers packed Mar-a-Lago, the Great Gatsby–esque private resort Trump has dubbed his “Winter White House,” to fete their new king. The private event, attended by Palm Beach’s billionaires, entrepreneurs and […] Read more

An Amazing Evening At Mar A Lago !!

An Amazing Evening At Mar A Lago !!

We had an absolutely incredible evening at Mar A Lago on Thursday.  I would like to extend my sincere thanks to everyone who attended and our sponsor who made it all possible, Castle Ridge Asset Management.

The feedback has been fantastic with the food, location, seminar, and staff all being world class.  A small group headed to the after-glow at the iconic HMF club at the Breakers afterward carrying on the festivities long into the evening.

Here are a few photos of the event.  Looking forward to seeing you at our next soiree’!

 

Palm Beach Hedgefund Association At Mar-a-Lago on Thursday, March […] Read more

The PBHFA In Vanity Fair

The PBHFA In Vanity Fair

BY Bess Levin    Read original here

In simpler times, Mar-a-Lago was a mere Palm Beach club, owned by a businessman who often feuded with the locals over things like the height of his flags and whether or not officials were routing air traffic overhead as a “deliberate and malicious act.” Now, it’s the new Camp David—the “Southern White House,” in the present vernacular—where the president of the United States entertains foreign leaders and paying guests alike, and where those who can afford the recently doubled $200,000 initiation fee can enjoy their wedge salads with a side […] Read more

West Palm Beach: The Wall Street Of The South

West Palm Beach: The Wall Street Of The South

MARCH 14, 2017 • JERILYN KLEIN BIER

From FA magazine

The migration of Northeast asset managers, hedge fund managers and other financial professionals to West Palm Beach, Fla., is continuing at a steady pace, according to Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County.

Although the activity has tapered a bit from its peak several years ago, when the move by some prominent hedge funds elevated it to national news, “there isn’t a week when I don’t have a company or two contact me,” she tells Financial Advisor. The Northeast, she says, “is a very ripe region […] Read more

Tudor Jones Parties On Palm Beach To Save Swamp

Tudor Jones Parties On Palm Beach To Save Swamp

From Bloomberg

 

 

By Amanda Gordon

 

A $2.4 billion proposal seeks to fix that by filling the swamp — that is, by directing water south from Lake Okeechobee toward Florida Bay. The idea has been around for a while, but only now is there the political will and funding to get it done, according to Jones and colleagues at the foundation. Bills were introduced in Florida’s legislature this year to buy mostly sugar land south of the lake, and then build a reservoir there to clean water before it’s sent south. The sugar industry has said it will cut into the region’s farmland, […] Read more

12 Hedge Funders Under 30 Years Old

12 Hedge Funders Under 30 Years Old

Hedge funders dominated Forbes’ most recent “30 Under 30” list for finance.

Twelve of them are on the 2017 list, including Michael Buckley, who works at Stanley Druckenmiller’s Duquesne Capital, and Anthony Massaro, who works at Bill Ackman’s Pershing Square Capital Management.

The list for finance was chosen by a pool of judges comprising Sonia Gardner, the cofounder of Avenue Capital Group; Thomas H. Lee, the founder of Lee Equity Partners; and Jennifer Fan, a portfolio manager at Millennium Management.

The acceptance rate to the list is under 4%, according to Forbes.

The twelve hedge fund staffers who made it to the list were: […] Read more

PBHFA Founder Consults With Israeli Economic Minister

PBHFA Founder Consults With Israeli Economic Minister

Dave Goodboy, PBHFA Founder, Robert Asaturyan, PBHFA’s Director of Eastern European Investor Relations and Thalius Hecksher, Trident Fund Services Global Director had the honor of consulting with Inon Elroy, Israeli Economic Minister to the United States on Monday, January 23 at the Miami Innovation Center.  PBHFA member Ric Scheinkman of Harpia Capital was kind enough to do the introductions.  I would also like to thank Natalie Martinez-Kalinina and Brooke Wallis of the Innovation Center for welcoming everyone.

We discussed the growth of money management firms and high-tech in Israel, as well as cross-border trade potential between South Florida, Tel Aviv, and […] Read more

Scaramucci Looks To Sell SkyBridge

Scaramucci Looks To Sell SkyBridge

By Lawrence Delevingne | NEW YORK FROM REUTERS

SkyBridge Capital, the hedge fund investment firm founded by outspoken industry defender Anthony Scaramucci, is for sale, according to a person familiar with the situation.

Scaramucci, a fundraiser and adviser to President-elect Donald Trump, recently began an auction process for the New York-based firm as he considers potential roles in the Trump administration, according to the person, who requested anonymity because the information is private.

More than a dozen potential bidders, including wealth management and private equity firms, have signed non-disclosure agreements to review SkyBridge’s financial results, the person said.

 

News of the potential sale was […] Read more

Top 10 Hedge Fund Trends For 2017

Top 10 Hedge Fund Trends For 2017

Each year, Agecroft Partners predicts the top hedge fund industry trends through their contact with more than 2,000 institutional investors and hundreds of hedge fund organizations. The hedge fund industry is very dynamic and both managers and investors can benefit from anticipating, and preparing for, what changes are likely to occur. Those who effectively evolve with the industry will succeed, while stagnant firms will be left behind. Below are Agecroft’s predictions for the biggest trends in the hedge fund industry for 2016.  Read more here

Reduction of expected returns for a diversified Hedge Fund portfolio.  Hedge fund performance is driven by […] Read more

David Ganek Seeks Revenge On Attorney General

David Ganek Seeks Revenge On Attorney General

From Fortune : read more here

By Bethany McLean

 

The anger is always lurking just below the surface for David Ganek. And as the pugnacious money manager begins to recount the events that led him to lose his hedge fund business, his influence as a patron of contemporary art, his status in Manhattan society, and some of his longtime friends, it threatens to boil over.

We’re sitting in a large conference room in Ganek’s office on the 45th floor of a Midtown Manhattan office building, just a few blocks away from where he used to preside over the $4 billion Level Global Investors […] Read more