This page has been archived and commenting is disabled.

Citi Analyst Mark Mahaney Fired For Doing What He Refused To Do Last Time He Was Fired

Tyler Durden's picture




 

Mark Mahaney PictureIt's not a good day for Citigroup tech analyst Mark Mahaney. Moments ago the WSJ reported that the former "star Internet analyst" was fired from Citi for disclosing non-public information about Facebook ahead of the IPO (surely he was the only Wall Street sellside who did this). To wit: "Mr. Mahaney, a top-ranked Internet analyst, was terminated Friday morning, according to a person familiar with the matter. The state also said the senior Citi analyst covering technology had given unpublished information about YouTube revenue estimates to a reporter for a French business magazine. "In an email to a Citi employee who questioned him on the communication, he responded 'this could get me in trouble. Shoot,'" the state said." Oh well: surely one of the hedge funds that did not invest in the FB IPO as a result of Mark's leaks will find him some mid-level analyst position as gratitude. Where it gets seriously ironic is when one looks back at Mark's career and stumbles upon this other WSJ pearl: "Mr. Mahaney, age 46, spent the original dot-com bubble of the late '90s at Morgan Stanley as MS -0.82% a junior analyst working with Mary Meeker, then a star Internet analyst. He then did a stint at hedge fund Galleon Group, whose founder was imprisoned after an insider-trading conviction. One person familiar with the matter says Mr. Mahaney was fired from Galleon for "not getting enough edge" on stocks." In other words, first Maheney was fired for not abusing inside information, then he is fired for... abusing inside information. If it is not too much to ask, could Mark's bosses please make up their minds already?

Our advice to Mark: in your next employment contract, make it very clear upfront if using or not using inside information is grounds for termination.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 10/26/2012 - 11:36 | 2921673 Frastric
Frastric's picture

Note the milaristic language; he was 'terminated'. The quasi-bankster-big government police state in works folks.

Fri, 10/26/2012 - 11:47 | 2921711 Bananamerican
Bananamerican's picture

Mahaney?

what kind of a jOO name is that?? (it's a jOKE ya dumbshits)

Fri, 10/26/2012 - 11:51 | 2921753 CPL
CPL's picture

It's Japanese like O'Neill or Osaka.

You can tell by the red hair. Dublin district outside of Tokyo, 8000kms away.

Fri, 10/26/2012 - 13:14 | 2921960 Precious
Precious's picture

So what.  Mahaney puts out dozens of decent reports every quarter and is WAY MORE CREDIBLE than Citigroup.

New York based Citigroup should fire themselves.  

Heavy exposure to troubled mortgages in the form of Collateralized debt obligation (CDOs), compounded by poor risk management led Citigroup into trouble as the subprime mortgage crisis worsened in 2008. Chairman Robert Rubin received over $17,000,000 in compensation from Citigroup and a further $33,000,000 in stock options as of 2008 and total compensation of $126,000,000 from Citigroup between 1999 and 2009.

Fri, 10/26/2012 - 15:53 | 2922518 Bananamerican
Bananamerican's picture

if he's a banker then fuck him.

There should only be 100 or so bankers in amerika and they should all be dressed like Superfly

Fri, 10/26/2012 - 15:45 | 2922486 Grill Boss
Grill Boss's picture

This is the quasi-information derivatives-bigbanks-facebook-loss of freedom of information-police-state at works.....

facebook and the fall of freedom?

http://www.empowernetwork.com/tmoney777/blog/facebook-and-the-fall-of-fr...

Fri, 10/26/2012 - 11:37 | 2921676 Bob
Bob's picture

Here's a nice little interview of GS black sheep Greg Smith with Soledad Obrien yesterday morning.  He starts out slowly but under pressure as an alleged poor loser spits it most articulately . . . says he want to lead a reform of Wall Street:
 
http://startingpoint.blogs.cnn.com/2012/10/

Fri, 10/26/2012 - 11:36 | 2921680 Cortez the Killer
Cortez the Killer's picture

hangings in the public square used to be such a nice deterrant to stuff like this.

Fri, 10/26/2012 - 12:15 | 2921849 DeadFred
DeadFred's picture

The rule is pretty clear and really simple, trade on insider info but DON"T GET CAUGHT!

Fri, 10/26/2012 - 11:37 | 2921684 redpill
redpill's picture

The answer is:  abuse inside information, but don't get caught.  Mr. Ponzi is dead, long live Mr. Ponzi.

Fri, 10/26/2012 - 11:38 | 2921696 economics9698
economics9698's picture

I second that.

Fri, 10/26/2012 - 11:37 | 2921686 slaughterer
slaughterer's picture

Mahaney is the greatest bubble floater of Internet and new-tech stocks.  Sorry to see him go.  A bull's best friend.  

Fri, 10/26/2012 - 11:38 | 2921692 ebworthen
ebworthen's picture

Citi is desperate for scapegoats.

First Pandit and now Mahaney.

Must be some big skeletons in Citi's closet.

Fri, 10/26/2012 - 11:53 | 2921693 Mercury
Mercury's picture

The red-headed step-child of Reg FD.

Can't catch a break...

This is the perfect place to game up Wall Street's reality TV presence which is clearly lacking. 

According to today's WSJ real estate agents are having all the fun and their business is supposed to be in the dumps.  WTF?

Get this guy an agent and have him start a sordid love affair with the ctrl-P intern at the NY Fed.

Fri, 10/26/2012 - 11:40 | 2921700 Lost Wages
Lost Wages's picture

"WAAT DOO YOU PEEEPLE WANT FROM MEEEEEE?!?"

Fri, 10/26/2012 - 11:40 | 2921702 Duke of Con Dao
Duke of Con Dao's picture

YouTube - Victim of Campaign He Blew his Mind out in a Fridge: Here's a Voter who would not Take It Anymore!
the best mash yet... like the guy on Men's Warehouse commercials
I guarantee it!
el dukerino

Fri, 10/26/2012 - 11:40 | 2921709 LFMayor
LFMayor's picture

So he's an "Internet analyst" who doesn't freaking realize that email is about as secure as a chickenwire condom?  What a dumbass and a souless ginger to boot.

Fri, 10/26/2012 - 11:45 | 2921727 WhiteHose
WhiteHose's picture

OUCH! What an image! Chicken wire condum!!

Fri, 10/26/2012 - 11:42 | 2921713 Jim in MN
Jim in MN's picture

Ach, the poor guy is a classic schlemoezel.  And being obviously Irish he'll have no idea what that means.

May the peace of the Lord (and the balm of compensation) be with you Mark!

Fri, 10/26/2012 - 12:07 | 2921813 Lost Wages
Lost Wages's picture

""1, 2, 3, 4, 5, 6, 7, 8 Schlemiel! Schlimazel! Hasenpfeffer Incorporated! We're gonna do it!"

http://www.youtube.com/watch?v=mRmKzxhMzwo

Fri, 10/26/2012 - 11:45 | 2921724 Yen Cross
Yen Cross's picture

I hear Santa Clause is looking for a few "carrot tops" for last minute "gift wraping duty". That should keep you off the SECs radar over the holidays.

Fri, 10/26/2012 - 11:44 | 2921726 muppet_master
muppet_master's picture

poor guy !!

anyways, flopbook is now scrapping the bottom of $22.1....on the day of the pop when @ $24+ i said gimme @26 so I can short it = oh well !! not gonna chase it down to $5.00...

no worries i'm heavily short the spx and eur...avg price = 1450 spx and 1.315 eur!!

LOL !! = heavily short and enjoying life = not watching every second...but BUILD positions, RIDE and enjoy life.

Fri, 10/26/2012 - 11:46 | 2921730 Jeff Cosford
Jeff Cosford's picture

I don't know I think Sloan Sabbith is just a way better reporter. I'd really prefer to watch her.

Fri, 10/26/2012 - 11:46 | 2921735 Dr. Engali
Dr. Engali's picture

Maybe he can get a job working with Henry Blodget over at Yahoo.

Fri, 10/26/2012 - 11:58 | 2921789 GMadScientist
GMadScientist's picture

Fuckin' no talent assclown.

Fri, 10/26/2012 - 12:01 | 2921800 I Am Not a Copp...
I Am Not a Copper Top's picture

+1 for the term assclown.  Never gets old.

Fri, 10/26/2012 - 12:55 | 2921942 GMadScientist
GMadScientist's picture

It seemed more polite for mixed company than 'Santorum'. ;)

Fri, 10/26/2012 - 12:06 | 2921811 j-dub
j-dub's picture

What a sopoforic effect, not to work on Wall Street-when you can safely assume the guy in the cubicle next to you has not financially ass raped his muppet clients

Fri, 10/26/2012 - 12:07 | 2921821 Alfred
Alfred's picture

was fired from Citi for disclosing public information about Facebook ahead of the IPO (surely he was the only Wall Street sellside who did this).

disclosing PUBLIC information. That's a typo right?

Fri, 10/26/2012 - 12:08 | 2921824 Nihilarian
Nihilarian's picture

Maybe SAC Capital has an opening...

Fri, 10/26/2012 - 12:15 | 2921852 Duke of Con Dao
Fri, 10/26/2012 - 16:10 | 2922567 muppet_master
muppet_master's picture

odummer to Sandy

"you didn't build that MONSTOBER FRANKEISTEIN HURRICANE" !!!

Sandy:  ok, i got a little goodbye treat for ya !!

"our house!! in the middle of the street our house !!"--madness !!

http://www.youtube.com/watch?v=KwIe_sjKeAY

 

Fri, 10/26/2012 - 12:27 | 2921888 Cone of Uncertainty
Cone of Uncertainty's picture

The Business Insider look out, you have more competition coming.

BLACKLISTED BITCH.

Fri, 10/26/2012 - 12:50 | 2921931 Shizzmoney
Shizzmoney's picture
Massachusetts fines Citigroup $2 million over Facebook IPO

Big hit there for Citi....looks like no caviar this month for Citi's Boston office.

Fri, 10/26/2012 - 12:57 | 2921954 Downtoolong
Downtoolong's picture

could Mark's bosses please make up their minds already?

It's obvious to me how their minds work. Anything goes Mark, as long as you help me make money and you don't get me in trouble. Otherwise, you're out.

Fri, 10/26/2012 - 13:37 | 2922111 LarryDavis
LarryDavis's picture

This is shocking. I wonder if that's how the rest of wall st works? I thought these guys used really sophisticated models and technical analysis to make these calls. I hope earnings meet expectations this quarter......FUCK THAT. Whoever thinks Wall St. isn't run by assholes like this has shit for a brain. FUCK WALL ST.

Fri, 10/26/2012 - 15:00 | 2922369 toomanyfakecons...
toomanyfakeconservatives's picture

This guy looks like one of the financial criminals that gets arrested at the end the of the movie "Boiler Room". It's a must watch for the ending scene alone, when the prison buses and paddy wagons pull up to the fictional "JT Marlin" headquarters to arrest all the financial criminals en masse!

 

Mankind can "move on" once this happens in real life in D.C. and America's financial centers.

Fri, 10/26/2012 - 20:01 | 2923031 Herdee
Herdee's picture

Galleon is mentioned on the DeepCapture blog.Done any naked short selling?mmm

Sat, 10/27/2012 - 20:52 | 2924653 honestann
honestann's picture

The understanding in these criminal organizations pretty much seems to be --- everyone except the top level can be dispensed with whenever convenient to "the organization".  That is one reason these folks get paid big bucks for... to be dispensable when convenient for their bosses.

Do NOT follow this link or you will be banned from the site!