tag:blogger.com,1999:blog-18079728.post2628883906432590396..comments2023-11-02T07:30:03.967-07:00Comments on Cassandra Does Tokyo: Why Reinsurers Should Be Boring"Cassandra"http://www.blogger.com/profile/17412381249313151515noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-18079728.post-84836773720907410742008-10-31T06:10:00.000-07:002008-10-31T06:10:00.000-07:00Theodore..."The old fashioned way", of sorts, cutt...Theodore..."The old fashioned way", of sorts, cutting my teeth with knowledgable people, then building on behalf of large investors, and then partnering with quality long-term investors.<BR/><BR/>Anonymous, it is of course David"Cassandra"https://www.blogger.com/profile/17412381249313151515noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-82687849050904649292008-10-31T05:36:00.000-07:002008-10-31T05:36:00.000-07:00Steve Einhorn or David Einhorn, there is a big dif...Steve Einhorn or David Einhorn, there is a big difference? I think it is not David Einhorn.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-55241288596589663592008-10-30T08:39:00.000-07:002008-10-30T08:39:00.000-07:00I agree Cassandra. We are seeing the cleansing now...I agree Cassandra. We are seeing the cleansing now.<BR/><BR/>My point with the 3 examples was that in all of those cases they earned their permanent capital independently - it wasn't institutional money being thrown at them, so there are no shortcuts.<BR/><BR/>How did you get started in this business?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-25725518673156346572008-10-30T08:26:00.000-07:002008-10-30T08:26:00.000-07:00Thanks for the explanation Cassandra. I moved from...Thanks for the explanation Cassandra. <BR/><BR/>I moved from real money into the hedge fund industry 5 years ago. There are agency problems on both sides of the fence but surely the investor has the right to expect better performance from a pool of professionals charging 2/20? The more I observe and learn, the more repulsed I am.Ahttps://www.blogger.com/profile/17436582518390861803noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-55854474548050195062008-10-30T07:45:00.000-07:002008-10-30T07:45:00.000-07:00Theodore - The question perhaps is "who" if anyon...Theodore - The question perhaps is "who" if anyone deserves permanent speculative capital? A permanent job is also a bonus, but no one should expect such in the event of abysmal performance. Scornful of Mr Buffet as the Niederhoffer gang is, he has earned such right, and continues to be an example. He, Mr Soros, and the likes did it the old fashioned way, start small, and build it. Few post-TMT "Cassandra"https://www.blogger.com/profile/17412381249313151515noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-73579960394565212642008-10-30T02:37:00.000-07:002008-10-30T02:37:00.000-07:00Hi CassandraCool blog. Have not come across this r...Hi Cassandra<BR/><BR/>Cool blog. Have not come across this reinsurance story anywhere else. So these hedge fund managers set up reinsurance companies as separate investment management vehicles ? How is this capital locked in? Appreciate your thoughts.Ahttps://www.blogger.com/profile/17436582518390861803noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-30023950481131687152008-10-29T13:24:00.000-07:002008-10-29T13:24:00.000-07:00how's life cassandra?i think you meant david e...how's life cassandra?<BR/><BR/>i think you meant david einhorn, i wasn't too sure, who steve was.<BR/><BR/>i see your point, but having permanent or quasi-permanent capital is a huge advantage in times like these. it's certainly very tempting to be able to wait things out vs. forced redemption-driven liquidations.<BR/><BR/>the options seem to be:<BR/>1) stacking or building a Anonymousnoreply@blogger.com