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Head Of MF Global Equity Derivatives Trading Launches Hedge Fund
Several weeks ago we learned that 2011's vaporizer extraordinaire Jon Corzine is contemplating starting his own hedge fund: presumably one that invests all its capital in Italian 2 year bonds, charges 2 and 20, and then disappears when all LP capital blows up in an AUM supernova. Today, we learn that the stigma freeze associated with all other former MF Global trading whizkids has officially melted, as the former head of equity derivatives of MF Global has just launched a new hedge fund. From Bloomberg: "Daniel Bystrom, former head of equity derivatives trading at MF Global Inc., and Neil Boyarsky plan to start Hawksfield Capital LLC, a New York-based equity volatility hedge fund, by the end of this month. Hawksfield Capital will start with $10 million to $20 million of Bystrom and Boyarsky’s own money, as well as capital from friends and family, Bystrom said in a telephone interview. “The fund will deliver returns that are uncorrelated and often negatively correlated to the returns of the typical hedge- fund strategy,” Bystrom said. “The opportunity set expands dramatically in times of higher volatility, when most other asset classes are not performing well.” Such as the stock of MF Global perhaps?
More:
Boyarsky, 40, has served as executive vice president of Improved Funding Techniques Inc., an actuarial and benefits consulting firm, for 12 years. He will be Hawksfield’s chief executive officer and Bystrom will be chief investment officer.
Bystrom and Boyarsky first discussed starting a hedge fund five years ago. After MF Global filed the eighth-biggest U.S. bankruptcy under Chapter 11 on Oct. 31, Bystrom knew the time was right to act on the plan, he said.
“It was an ongoing dialog and it was something I knew I would always do at some point,” Bystrom said. “When MF did go bankrupt, it presented me with the right opportunity to do it.”
Bystrom said it was “disappointing and frustrating” to be part of an organization brought down by “external forces” separate from his team. MF Global, run at the time by former New Jersey Governor and Goldman Sachs Group Inc. Co-Chairman Jon Corzine, filed for bankruptcy after a wrong-way $6.3 billion trade on its own behalf on bonds of some of Europe’s most indebted nations.
Hawksfield’s prime broker is Goldman Sachs.
Hmm, not JP Morgan?
We have nothing to add to this. We are sad, however, that the Onion has now completely and officially missed its IPO window.
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"A fool and his money are soon parted"
me first, me first! hey quit budging. line forms at the rear, pal.
Muppets wanted.
Damn, I was long Bail Bonds.
Do not pass go, Do not collect $200.
I go chop your dollar
MF Global Gents: In case you are reading this, I would like to say that I hope you completely lose all of your clients' money. It is under those conditions that you may eventually eat shit and die.
I believe that should be, the line forms at the muppet's rear.
x3 ETF's are for pussies. x16 is where it's at.
Too bad the leverage decay cycle would be faster than the bots could trade.
Hawksfield Capital will start with $10 million to $20 million of Bystrom and Boyarsky’s own money.
I'm sorry...whos money?
Fuck you SEC!!
"A pension fund and its money are soon parted"
corrected.
Very much so, very much so. If your foolish enough to invest with this firm and this person you deserve to lose every bit of your money.
Duuuhhhhh! Where do I sign up?
I'd love to see him "do it again" just to rub congress/senates IMPOTENT nose in it !
What?? They didn't call it Vaporized Capital LLC???
Hey everybody, free money!
Equity derv's trading is often delta-neutral so hopefully they won't pull a corzine a few months after opening..
Then again, UBS's delta-one desk was supposed to be 'perfectly hedged' as well.
Vaporfund LLC
In a year I'll ask them to deliver the goods that back their etf. In a year they'll bring me a picture of a board room full of directors laughing with red arrows pointing out the empty space around their heads between the walls.
A stand is then setup with a space heater and a garbage bag is set above the space heater.
The heater is turned on, the bag inflates with hot air. It is then promptly sealed and delivered to my person.
The delivery agent then hand me the bag of rapidly cooling hot air, packs the heater and exits.
It could work. I see the value in your offer, please subscribe me to your newsletter for more relevant information. Cheque out to cash you say no problem, I trust you.
Slain Capital.
Hawksfield Capital will start with $10 million to $20 million of Bystrom and Boyarsky’s own money, as well as capital from friends and family, (and FARMERS!)
10 to 20 million? What the hell can you buy with 10 to 20 million? Maybe they will buy a bunch of call options on Berkshire Hathaway. Corzine probably seeded them with a little walking money to get them off his back.
Tell me this is part of some work-release program.
Heck yeah he has!
He's been on the inside and sees how it works. He wants in!
That's the exact thought I had. He's seen how the game works, and he got the "GOT'S TO GET MINE" mentality! What the hell would be done to him if clients money just vaporized? Just make sure you donate and fundraise for the right person. Your'e good to go! You go boy!
License to steal.
Bastard ass cheating lying bankers getting one over on the public everyday now. Fucking people need to fucking wake the fuck up.
As long as he doesn't go too far like Bernie, then it's all kosher.
Anyone who has any elcetronic funds at this stage of the game is really rolling the dice in my opinion. Things are happening too fast and if you decide to get out "soon" you might find yourself locked in and not by your choice. Keep your wealth to yourself and in your possession, what do you have to loose? 0.3 percent? Land, some cash, PM's, food and water.
So they're starting a B(ystrom) & B(oyarsky), are they? Better get your reserveration in early.
You can check out any time you like...but you can never leave!
"Dear Friends and Family,
I have an EXCITING opportunity to invest in my new hedge fund. As many of you know, I use to work at MFG, but due to "external forces", MFG is no longer in business. But, don't worry, your money will be safe, as I will only invest in credit swaps in Europe, which will give you a 20% apr return!"
And, poof, it is gone...
It's not possible to pass laws such that fools and their money are protected.
cough err crooks, burp ah thieves,fart eek piss ants looking to get what they can out of you then vaporize accounts
Hindenburg Capitol LLC would be a better name.
$10 to $20 million of their own money. This wreaks of the need for a lawsuit and judicial claw back.
"Hawksfield Capital will start with $10 million to $20 million of Bystrom and Boyarsky’s own money, as well as capital from friends and family, Bystrom said in a telephone interview."
I think Bystrom left out an important source of funds in the interview:
"Hawksfield Capital will start with $10 million to $20 million of Bystrom and Boyarsky’s own money, as well as capital from friends and family, but most of it was stolen from MF Global customers, Bystrom said in a telephone interview."
"Senkaku Diversity Hedge Fund" is the name you say?
http://online.wsj.com/article/SB1000087239639044399560457800439332496072...
JP Morgue is at it again. They are the experts in siphoning.
Fuck Corzine!
This cunt wants to be on the wrong side of a 12 gauge shot gun.
How many more MFG, and other arse ripping cons will you lot take?
Cease and fucking desist, you fucking zionist shithawks. When is enough, enough?
Hey guys how do I invest?
Open mouth. Insert M80. Light Fuse. Outcome less painful than investing in this VaporFund!
Maybe he'll have a stroke.
Corzine the great Obama bundler .......still free ...http://www.foxbusiness.com/industries/2012/09/11/exclusive-mf-global-cfo...
Once we get that $10 to $20 million leveraged 100:1, then the fun can REALLY get started!
(Because nothing's easier than stealing money using a hedge fund!)
And we're wondering what caused the Flash Crash in Brent against all logic and rationality!
I am getting sick of these constant Bird Names, however.
(I hear hawks make great hamburger, especially if you mix in some peregrine fat.)
F*cking brilliant ... he's figured out a way to steal clients' money and charge them 2&20 for the privilege.
Hahaha. HAHAHAHAHAHA!
Here's 20 mil fuckwit go for it! 2 and 20 b1tch3z! lolol
Ur kidding
WHO WENT TO JAIL? HOW MANY DECADES DID THEY GET? WHO TOOK RESPONSIBILITY?