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Dec-06-11
 | | ketchuplover: Down goes Howell! |
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Dec-06-11
 | | Penguincw: He's doing good in the tournament, just like last year. Looks like this ticket might not go to waste. :) London Classic: QUINELLA : Carlen-McShane [info] 10 LIVE BET 57:1 57.72 577 Dec-12-11 |
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Dec-09-11 | | hellopolgar: this guy is better than his rating suggests. |
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Dec-10-11 | | zoren: this guy 2700 yet? |
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Dec-10-11 | | Paint My Dragon: As has been widely reported, Luke could not get time off work to participate in the 2012 Tata Steel A Group and has withdrawn. Does anyone know if his invitation has been held over to the following year? Perhaps he has now lost the opportunity completely, which would be a real shame. <JRJN> Are you still in touch with Luke? Nice interview by the way. |
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Dec-10-11
 | | HeMateMe: What does he do for a living? |
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Dec-11-11 | | theagenbiteofinwit: I think he still works for Goldman Sachs. Best amatuer since Reshevsky. |
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Dec-11-11
 | | HeMateMe: I thought it was David Howell who worked in the securities business. |
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Dec-11-11 | | AlphaMale: Howell's in the last year of uni; he's intending to become a full-time professional. I don't think McShane's time with Goldman Sachs extended beyond an internship. Before yesterday I hadn't got wind of who he's working for, but someone online casually mentioned that he's now with.... <Elliott Advisors (UK) Limited is a privately owned hedge fund sponsor. The firm invests in the public equity markets across the globe. It also invests in alternative markets. The firm primarily makes its investments in companies undergoing bankruptcy, reorganization, or corporate restructuring. It operates as a subsidiary of Elliott Management Corporation. Elliott Advisors (UK) Limited is based in London, United Kingdom.> http://investing.businessweek.com/r... They appear to be the British branch of American hedge fund, Elliott Associates: http://en.wikipedia.org/wiki/Elliot... |
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Dec-11-11 | | AlphaMale: <A small portion of Elliott's portfolio is dedicated to distressed sovereign debt, most recently that of Argentina and the Republic of the Congo. Elliott is well-known for its purchase of Peruvian sovereign debt. Elliot purchased debt with a face value of $20 million for $11 million. After extensive and costly litigation and numerous attempts at reaching a settlement, the court awarded $58 million to Elliott, including past due interest. More recently, Elliott has exposed serious corruption in Congo-Brazzaville in its efforts to enforce judgments totaling more than $100 million in defaulted bank debt.> http://en.wikipedia.org/wiki/Elliot... Exposing serious corruption in Africa (I'm shocked, shocked!) sounds a rather noble thing to do, but others take a dimmer view of such public service: <In one recent case, for example, a “vulture fund” in effect held Peru to ransom by persuading courts in the US and Europe to prevent it servicing its debts to other creditors. It is not clear whether this technique would survive legal challenge in future cases, but it only goes to highlight a more general problem.That “vulture fund” which held Peru to ransom, is the same fund that now pursues and holds Argentina to ransom. Elliott Associates vs. Peru
According to the website of the American Task Force Argentina (ATFA) –which nowadays applauds the pressures on Argentina – one of its members and supporters is Elliot Associates Inc., which indicates that AFTA is not just a lobby and pressure group, more or less questionable, just like any other, but it is the lobby group of a vulture fund. To say that Elliot Associates Inc. is a vulture fund that blackmails the countries chosen as its preys is not just a mere opinion, but a fact. Argentina has no need to prove it, as the IMF has already said that.> http://pressenza.com/npermalink/of-... <The biggest vulture fund is Elliott Associates run by Paul Singer, billionaire donor to President Bush and presidential hopeful Rudi Giuliani.On one occasion, Elliott spent $12m on "distressed" Peruvian debt in 1996 and four years later forced Peru to pay almost $58m to redeem it. He is reputedly worth £8bn and contributed $300,000 to Bush's election campaign in 2000 (above) and $1.2m in 2004. He also bought some of Congo's debt for $10m and sued for $127m. The Congolese government was found to be corrupt and under US racketeering law, Singer may be able to claim triple damages, reaping as much as $400m.> http://www.guardian.co.uk/business/...
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Dec-11-11
 | | HeMateMe: Wouldn't all of that make Greece a wonderful target for a vulture fund? Buy debt that is impossible for Greece to service, then sue or wait for the EC to bail out the poorly managed Greeks? |
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Dec-11-11 | | AlphaMale: One of Paul Singer's fellow directors of Elliott Advisors is Myron Kaplan. He belongs to a firm of New York lawyers called <KLEINBERG, KAPLAN, WOLFF & COHEN>. <Charities are calling for Britain's Privy Council to block an American speculator from taking $100m (£62.86m) from the Democratic Republic of Congo.Peter Grossman runs a so-called vulture fund which buys up the debts of poor nations cheaply and then sues for 10 or 100 times what they paid for them. Such funds were in effect made illegal in the UK last year. But Mr Grossman exploited a loophole to sue in Jersey, which is currently not covered by the law.> http://www.bbc.co.uk/news/business-... |
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Dec-11-11 | | AlphaMale: <Buy debt that is impossible for Greece to service, then sue or wait for the EC to bail out the poorly managed Greeks?> I believe the bailout deal involved legal agreement that the creditor banks would take a haircut. |
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Dec-11-11 | | AlphaMale: When Danny King tried to press McShane the other day on why he didn't want to devote himself fully to chess, Luke said something like, 'There are many other interesting things to do.' And lucrative. Not that I'm saying Luke is personally involved in anything unethical/shady, or that he's been shy about letting people know who he works for (maybe he just thinks that it's none of our business). This is all assuming, of course, that he actually does work for Elliott. |
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Dec-11-11 | | AlphaMale: <Vulture funds stand to make a fortune from a second Greek bailout after buying hundreds of millions of euros of distressed sovereign debt in the past few months. Europe (Chicago Options: ^REURTRUSD - news) 's banks could also profit from a rescue unless they volunteer to restructure their loans, according to analysts and debt traders. Details of the potential gains emerged following mounting pressure for creditors to contribute to a second Greek bail-out by taking a hit on some of Athens' debt. However, it is feared that any private creditor moves will be little more than token as participation is voluntarily. In the past three months, US asset managers Loomis Sayles and BlackRock (NYSE: BLK - news) , Swiss private bank Julius Baer, French asset manager Natixis (Euronext: KN.NX - news) , German investment fund StarCap and Luxembourg-based Ethenea Independent Investors were among a raft of funds to have bought Greek sovereign debt in the secondary market. Between them, they acquired around €150m (£133m) of Greek debt, public filings on Bloomberg show. Market sources said there is still a lot of activity in Greek debt, despite the crisis, with data from public filings just the tip of the iceberg. On average, Greek debt is trading at around 50pc of face value, but markdowns are smaller for short-dated bonds and larger for longer-term debt. If bonds are redeemed at par as part of a second bail-out, vulture funds may as much as double their money, debt traders said.> http://uk.finance.yahoo.com/news/Vu... I believe Julius Baer was Kasparov's bank of choice.
<Julius Bär Group (or Julius Baer Group, SIX: BAER) is a Swiss banking firm which is the parent company of Bank Julius Bär, a traditional private bank based in Zurich, Switzerland. The firm dates itself back to the year 1890, when an exchange office was founded by Ludwig Hirschhorn und Theodor Grob. Joseph Michael Uhl and Julius Bär joined in 1896, when Theodor Grob left. And it was in 1901, when Julius Bär acquired the bank. The group manages substantial assets for private and institutional clients from all over the world. The firm's services consist mainly of asset management, wealth management and investment consultancy, investment funds for private and institutional investors as well as securities and foreign exchange trading.[...]
On January 16, 2011, former Julius Baer employee Rudolf Elmer announced that he would be handing over to Wikileaks bank account details of individuals and corporations holding offshore accounts that may indicate massive tax evasion.> http://en.wikipedia.org/wiki/Julius... |
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Dec-11-11
 | | keypusher: <On one occasion, Elliott spent $12m on "distressed" Peruvian debt in 1996 and four years later forced Peru to pay almost $58m to redeem it.> Sounds like quite a trick! How did they do it? <JimBartle>, do you know anything about this? <After extensive and costly litigation and numerous attempts at reaching a settlement, the court awarded $58 million to Elliott, including past due interest. > Ah. The original source is behind a subscriber wall, but I suspect the wikipedia article is more useless than usual. |
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Jan-01-12 | | hellopolgar: Why does this guy give both Carlsen and Nakamura so much trouble? Heck he isn't even a full time professional player! |
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Jan-01-12 | | iking: carlsen vs mcshane
search "carlsen vs mcshane" W - 1
L - 1
D - 2
Nakamura vs Mcshane
search "nakamura vs mcshane" W - 1
L - 1
D - 3
Based on this result, do you think its really troublesome? Kamsky vs Carlsen
search "carlsen vs kamsky" Kamsky beats Carlsen
W - 2
L - 1
D - 5
Still i believe Carlsen will beat him in a Match Play .... |
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Jan-04-12 | | hellopolgar: <iking> You can't just look at the numbers of wins/losses, please study the draws. Any other sub-2700 player wouldn't have managed as well against Naka+Carlsen. |
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Jan-07-12
 | | Penguincw: Happy Birthday Luke McShane! Hope you do well at your next tournament. |
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Jan-09-12 | | kellmano: Did McShane turn down his opportunity to play in Tata group A? He's not on the participants list and qualified last year. |
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Jan-09-12 | | King Death: < kellmano: Did McShane turn down his opportunity to play in Tata group A?> <PaintMyDragon>'s note on December 10
discusses that. |
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Jan-10-12
 | | Penguincw: Aww. I was looking forward to see McShane performing well. |
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Jan-10-12 | | Everett: I like Luke's chess, but Elliot Associates sounds like just another group of financial scumbags. Reading John Perkins "Confessions of a Corporate Hitman" will help one get the idea of what companies are willing to do to turn a profit. |
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Jan-10-12
 | | HeMateMe: <Everett> You're right, they sound like Drexel Burnham meets Bediney & Lambert. But, if you just got out of college, maybe some hefty tuition loans to pay off, you gonna do what you gotta do. Same thing with corporate law. In the USA, when the tobacco industry was facing calamitous lawsuits, they were defended by a multinational, wealthy law firm. This firm could hire the brightest law school graduates, and the very best trial lawyers. The bad guys always have the best resources. Same thing with asbestos litigation here, when wealthy office building owners (Trump, Helmsley) had to defend themselves from multimillion dollar lawsuits, regarding the use of asbestos materials in building construction. |
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