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Head Of Recently Bankrupt FX Concepts Wants You To Know He Is Back, With A Newsletter And A Bloomberg Terminal

Tyler Durden's picture





 

2013 may have been a bad year for Bill Gross, but nobody had it worse than John Taylor. The former head of FX concepts saw his hedge fund - once an FX trading behemoth and the largest in the world with $14 billion in AUM in 2007 - crash, burn, and file for bankruptcy as we reported previously. But the cherry on top was the revelation that a year before its filing, Taylor personally guaranteed some $5 million of the FX Concepts' debt owed to Asset Management Finance, a unit of Credit Suisse. Surely, such a sequence of events would be enough to turn even the staunchest financial addict away from the markets for ever. But not John Taylor - the former FX guru has a message for all of you: he is not only back, but is launching a newsletter.... oh and he has a Bloomberg terminal too.

From Reuters:

Three months after FX Concepts filed for bankruptcy protection, its founder John Taylor said he will manage funds again and focus on technical and quantitative research for the company that once ranked as the world's largest currency hedge fund.

 

"The market is my home, not administration; I am back," Taylor said in a letter to clients dated Jan. 9.

 

"The newsletter business will be the primary business asset and livelihood of John R. Taylor as it was years ago."

 

In his letter, Taylor addressed FX Concepts' troubles for the first time since it filed for bankruptcy protection on Oct. 17. He has not responded to requests for interviews and sources said he is currently in the midst of negotiations with banks.

 

"Things have changed and are still changin' at FX Concepts where it is fair to say the world has been turned upside down," said Taylor. "FX Concepts filed Chapter 11 in October, an ignominious end for our company."

It sure was, but onward and upward to the best news:

"It is difficult to operate without phones, e-mail addresses, or even business cards, but I have rented an office and we have Bloomberg, CQG (market data provider), and friends in the banking world giving us information galore," said Taylor.

Well in that case, where does one sign up for the $29.95 monthly newsletter. As for the newsletter's contents: "a new series of updated medium-term and intra-day models have been created and will be launched as soon as Credit Suisse gives FX Concepts the approval."

Will Credit Suisse also be a news letter client? Because there is nothing quite as liberating as paying someone with a virtual portfolio to tell you when to buy or sell based on sophisticated proprietary model that send out an alert anytime the 50 DMA trendline is crossed.

 


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Thu, 01/09/2014 - 15:51 | Link to Comment NoDebt
NoDebt's picture

Thanks for the update.

Thu, 01/09/2014 - 16:58 | Link to Comment NotApplicable
NotApplicable's picture

Mr. Taylor seemingly fails to realize that he is homeless.

Thu, 01/09/2014 - 15:52 | Link to Comment 666
666's picture

$29.95 per month? It's a steal!

Thu, 01/09/2014 - 16:00 | Link to Comment nope-1004
nope-1004's picture

Misery loves company.  Our corrupt and failing financial condition can't punt the unhonorable out.  They are like flies to shit.

 

Thu, 01/09/2014 - 16:00 | Link to Comment frankTHE COIN
frankTHE COIN's picture

" Don't call it a Come Back "

LL Cool J

Thu, 01/09/2014 - 16:06 | Link to Comment Grande Tetons
Grande Tetons's picture

I saw this fuddy duddy on Bloomberg last year and he was asked about the upside on the USD/JPY. He hemmed and hawed.....and eventually babbled...I dunno 90? 

Keep your newsletter, Gramps....and go retire. 

Thu, 01/09/2014 - 16:09 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

On what?  The avg Soc Sec payout is about $16K/yr.

Thu, 01/09/2014 - 16:27 | Link to Comment Grande Tetons
Grande Tetons's picture

Maybe he could subsidize his retirement by being a Wall Mart greeter. 

Thu, 01/09/2014 - 16:07 | Link to Comment Colonel Klink
Colonel Klink's picture

I believe the Newsletter is called "Muppet Makers".  I could be wrong.  It's as easy as 1...2...0.

Thu, 01/09/2014 - 16:04 | Link to Comment Orly
Orly's picture

Crazy question but does anyone know how to contact Mr. Taylor?

Thanks.

:D

Thu, 01/09/2014 - 16:15 | Link to Comment frankTHE COIN
frankTHE COIN's picture

1-800 7363 2274
Send cash

Thu, 01/09/2014 - 16:21 | Link to Comment NoDebt
NoDebt's picture

Nice!

He's still on some board at Princeton, I think.  Might find him through that avenue.

Thu, 01/09/2014 - 16:29 | Link to Comment Orly
Orly's picture

Thanks.

He seems like a kind and decent man.

I appreciate it, NoDebt.

:D

Thu, 01/09/2014 - 16:39 | Link to Comment frankTHE COIN
frankTHE COIN's picture

It's common to lose money, small and large in this profession. Many people bounce back very well. Good luck and I hope it works out.

Thu, 01/09/2014 - 17:06 | Link to Comment Non Passaran
Non Passaran's picture

According to ZH putting your own money where your mouth is makes the man a loser.

Thu, 01/09/2014 - 17:58 | Link to Comment giggler321
giggler321's picture

He's got my money - no I mean it, in FX concepts; the git

Thu, 01/09/2014 - 16:06 | Link to Comment denverdolomte
denverdolomte's picture

Wall Street/Traders/Bankers et tal hilariously remind me of priests anymore, they get caught poking but just can't help themselves from doing it again and they have a higher power covering for them. 

 

 

Thu, 01/09/2014 - 16:11 | Link to Comment kaiten
kaiten's picture

Mr John Parity Taylor back, good. So he can start betting against euro again and declare bankruptcy 5 years later. Wash, rinse, repeat ...

Thu, 01/09/2014 - 16:35 | Link to Comment Fuh Querada
Fuh Querada's picture

That hack Joan Maudlin was predicting imminent EUR/USD parity back in 2009.

Thu, 01/09/2014 - 16:14 | Link to Comment rpboxster
rpboxster's picture

Of course he's back.  What else would/could he do?

Thu, 01/09/2014 - 16:16 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Friends inside the banking network?  - Expert Network?

Thu, 01/09/2014 - 16:58 | Link to Comment AcidRastaHead
AcidRastaHead's picture

When he says:

"and friends in the banking world giving us information galore," 

You know that:

"a new series of updated medium-term and intra-day models have been created"

... is complete Bullsh*t.

Thu, 01/09/2014 - 16:22 | Link to Comment ebworthen
ebworthen's picture

He was right in a lot of the things he said but his timing was off.

You can't fight the FED and have your timing off.

Thu, 01/09/2014 - 16:25 | Link to Comment Colonel Klink
Colonel Klink's picture

As they say, don't go away mad, just go away.

Thu, 01/09/2014 - 16:30 | Link to Comment Fuh Querada
Fuh Querada's picture

He should hire "Fuc To Market" as a consultant.

Thu, 01/09/2014 - 16:34 | Link to Comment tallen
tallen's picture

Nothing but a snake oil salesman.

Thu, 01/09/2014 - 16:35 | Link to Comment syntaxterror
syntaxterror's picture

Douche needs better insider info if he plans to compete.

Thu, 01/09/2014 - 21:36 | Link to Comment highwaytoserfdom
highwaytoserfdom's picture

Damit Janet    Can't short a newsletter... Ahh shucks Janet probably pull a Ben and stop the shorts like my shorts were pulled on banks.(really stuck it up my ...  )    love to see that Credit Suisse plan..  I'd pay good money to be a fly on the wall during that discussion..  

http://www.youtube.com/watch?v=NBjVBbeqf7E


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