March PBHFA Newsletter

March PBHFA Newsletter

Welcome to PBHFA’s March missive!

The last few weeks have been quite interesting both socially and in the financial markets.

Black swan style events of COVID 19 and geo-political tensions have spiked the VIX sending equities and the oil complex plunging lower.

I have not witnessed this type of market action for decades. The index swings and confusion on the street create tremendous opportunities, as well as, hazards across the board.

Right now, our social events have been postponed.  Our plans hinge upon our sponsors and venues reopening-

We will keep you posted on any rescheduling and changes in the social calendar.

Click here for the […] Read more

An Incredible Deal-Making Social With The Ritz Carlton (PHOTOS) !!

An Incredible Deal-Making Social With The Ritz Carlton (PHOTOS) !!

We are thrilled to announce a partnership with the exclusive and luxurious Ritz Carlton Residences in Sunny Isle Beach!!

Our social held on January 24th was a huge success with hedge fund and money managers mingling with the investor and real estate community of South Florida. New friendships were formed and deals bantered about as we dined on the finest Hor d Oueves and sipped top-shelf cocktails provided by the Ritz.

We were fortunate enough to host world-renowned taxation expert Barry Horowitz who shared his vast knowledge on creating a residence and owning property in Florida.

Looking forward to seeing our members at […] Read more

PBHFA Inks Deal With Palm Beach Symphony!!

PBHFA Inks Deal With Palm Beach Symphony!!

We are thrilled to announce a strategic partnership with the Palm Beach Symphony!   It is exciting to introduce our members to the beautiful music of the symphony.  This world-class institution and the PBHFA’s goals are aligned in elevating our region to being a true global leader in the world of art, commerce & lifestyle.

Members stay tuned for your invite to a very special event in April with the Palm Beach Symphony!

 

 

 

Palm Beach Symphony Announces Partnership with Palm Beach Hedge Fund Association
West Palm Beach, FL (December 20, 2019) –

PRESS RELEASE

Palm Beach Symphony and the Palm Beach Hedge Fund Association
(PBHFA) have announced […] Read more

Steve Cohen Buys The New York Mets!

Steve Cohen Buys The New York Mets!

New York (CNN Business)The New York Mets have agreed to be sold to hedge fund billionaire Steve Cohen, in a deal that will take five years to complete, the team announced Wednesday evening.

During that time the current owner, Fred Wilpon, 83, will continue to serve as the team’s chairman. He bought half the team along with Nelson Doubleday in 1980, and the other half in 2002. Wilpon’s son, Jeff Wilpon, who is the team’s chief operating officer, will remain in that job for five years.

The Mets have struggled to compete against the more popular New York Yankees, and […] Read more

Palm Beach Hedge Funder Builds Quant Paradise

Palm Beach Hedge Funder Builds Quant Paradise

 

From Bloomberg

 

By

Vincent Bielski

December 3, 2019, 9:58 AM EST

Steven Schonfeld is a hedge fund billionaire of a different breed.

He’s almost always in a hoodie, drawn from a closet full of them. He shuns the Wall Street crowd. You’ll never see him at a gala in Manhattan or at Davos or Aspen. Mostly he stays home in Old Westbury, New York.

In other ways, “Schony,” as his gin pals call him, is just like any other tycoon. He’s worth about $1.3 billion, according to estimates by the Bloomberg Billionaires Index. He spent about $20 million to build a golf course, designed by Rees Jones, next to […] Read more

An Over-Sold, Elegant Evening At The Breakers!!

An Over-Sold, Elegant Evening At The Breakers!!

Our deal-making dinner, with Fenics UST,  at the Breakers was an incredible success!!

An oversold crowd of members and guests mingled in the first-class atmosphere of the Breakers Beach Club.  As the sound of winter seas lashing the Breakers seawall filled the air, attendees enjoyed a premium open bar, a wide variety of gourmet Hor D’oueves, and intense conversations with hedge fund professionals, money managers, investment bankers, and a wide variety of financial mavens.   Multiple deals, opportunities, investing/trading strategies and market projections were discussed as new friendships were forged and old ones reignited.

Next, we all moved into the ocean-facing ballroom for […] Read more

What An Amazing Evening Aboard Alegria!!

What An Amazing Evening Aboard Alegria!!

 

Our first luxury based Soirée of the season was a home run!!  Hosted onboard the fabulous superyacht Alegria, guests mingled in the superlative ambiance while drinking the world’s finest tequila, noshing on gourmet bites, and trying on extremely rare timepieces boasting prices north of $650,000.00.

Along with the experiential luxury atmosphere, members and guests talked markets, economics, business and deals all while reuniting with old friends and making new ones.

We would like to extend a heartfelt thanks to our partners who helped make this all possible:

SuperYacht One, Bloor Street Capital, Denison Superyachts,  Greubel Forsey, Clase Azul Tequila, Whispering Angel […] Read more

Trump Declares Himself A Resident Of Florida

Trump Declares Himself A Resident Of Florida

 

From The New York Times

By Maggie Haberman

He came of age in Queens, built Trump Tower, starred in “The Apprentice,” bankrupted his businesses six times, and drew cheering crowds and angry protesters to Fifth Avenue after his election. Through it all, President Trump — rich, bombastic and to many Americans the epitome of a New Yorker — was intertwined with the city he called his lifelong home.

In late September, Mr. Trump changed his primary residence from Manhattan to Palm Beach, Fla., according to documents filed with the Palm Beach County Circuit Court. Melania Trump, the first lady, also changed her residence to […] Read more

The Man Who Built SoftBank’s Colossal Tech Fund Now Has To Fix It

The Man Who Built SoftBank’s Colossal Tech Fund Now Has To Fix It

From The Wall Street Journal

By

Liz Hoffman and
Bradley Hope

Oct. 31, 2019 11:40 am ET

Flying over Europe in a private jet last year, Rajeev Misra took his shoes off and propped his bare feet on the knee of a top executive of FIFA, soccer’s governing body. The executive froze while Mr. Misra, head of SoftBank Group Corp. 9984 0.05% ’s $100 billion Vision Fund, chatted about ways to make more money off the streaming rights for the organization’s tournaments.

The Vision Fund had become, in the span of a year, the world’s most influential technology investor, making Mr. Misra a kingmaker in Silicon Valley. The meeting on the plane […] Read more