So, did Gordon Gekko have clients, or traded for himself ?
In the first movie, we see him a few times in the office with some Japanese dudes, but it is not clear if they are potential business partners or clients.
In the second movie, he specifically says he turned his 100 million into a billion once he opened the office in London.
He never really mentions clients or running any type of fund, therefore the question is, was Gordon Gekko only in business for himself, trading his own fortune by buying and selling (or liquidating) companies ?
I wonder if there are any big wallstreet players under the radar that actually only do that, no clients, no funds, just allocating their own capital.
of course there are
it's called a family office.
Like who ? All we hear about are hedge fund managers, but I do not recall hearing about a big time Wall Street guy that does deals just for himself. I guess Trump would be a perfect example for Real Estate, he mainly did deals with his money for himself.
It's a fictional movie.. and clearly the technical aspect of that movie was a little off. IT'S JUST TOO BIG TO FAIL!
You are right Cartwright, family office. That's what Drunkemiller is going to do.
I could have misinterpreted it, but I read somewhere that guys like Boesky (who Gekko was partially based on) in the 80's had their own firms (blue horseshoe) and Milken underwrote bonds for them to add capital instead of relying on investors.
Not 100% on that though.
Also HFs like Rentec are, at this point, pretty much exclusively running their own employeeys' money.
um, SAC capital is mostly steven cohen's money
SAC capital is mostly his money ? Did not know that.....wow
at the end of WS 2 he talks about his new fund being oversubscribed. Yes his first fund he did with his own capital but the end is about him getting investors. So yes he does have clients.
That's the key difference between raiders and regular buyout shops. Icahn and co didn't rely on LPs to raise funds and worked on a deal by deal basis instead, fronting the often minimal equity themselves or with the help of a smallish syndicate.
SAC essentially does, majority of the fund is stevies cash
I think in the first movie he was playing with his own money, thus why he referred to himself as a player and mentioned fund managers never being able to beat the s&p 500.
Second movie he definitely managed his own money initially, but then we see him taking on money from investors.
Both movies are meant to reflect the players at the time, 80's was people doing deals with their own money, such as corporate raiders. now its mostly hedge fund guys making the big bucks
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