Philistines at the Hedge Fund: No Alpha, No Job

Goldman is shuffling the chairs on its sinking asset management ship.  Blankfein is really shaking things up in the unit, as he should given the miserable performance in their flagship Global Alpha hedge fund. I don’t know why the performance is so miserable, but I bet you James Simons’ Medallion fund at Renaissance is picking their pocket. Those two heavyweights probably eye each other nearly every day and go a few rounds.

Apparently hedge row barber Marc Spilker is safe, although as head of the alternatives division I can’t will soon need to take some responsibility for lousy performance. Is he made of teflon? The fracas he started with Chanos over the hedges in East Hampton can’t be all that great either, when did Goldman ever condone garnering publicity like that?

It is all quite amusing. Folks used to toil in obscurity on the Street. 

Quit reading this article and get back to work, slackers. You are only as good as your last trade.

Goldman’s Schwartz to Step Down
Bloomberg

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