Majordamage are ya still around?
In post #41 ya said "He did a strong arm consultin agreement with Paul Taylor" Who's he, Ribotsky? Ya seem ta have some knowledge of the NIR, Boca, Palm Beach connection. Do ya have any docs on the Taylor connection?

I'll pass it on and see what comes back.
I'll be very interested in what is said under oath. Lawyers lie by nature. A defendant under oath deals with the perjury card. I'd have my lawyer ask some very pointed questions. I can assure ya there are places NIR doesn't want ta go. I have no idea about Cyberlux. Some of these companies are worse than NIR could ever be. I don't even know what the beef is about but within a dispute there is usually a sensible solution. Both sides want ta make money not spend it. I'm always for the smart play. When it doesn't work ya have ta play hardball.

Sounds right ta me SLMan
I do get a kick outta "his own money". Where do ya suppose his money came from. It's like the claim Madoff was a big supporter of charities. If I was pullin a billion a year outta my fund I'd be happy ta set aside a couple a million for PR and supportin some runnin for office. Hindsight is easy but that's how it works. Look at this Ribotsky dude at NIR. Do his actions seem ta fit a pattern?

SLMan
I've got several lawyers in my group of wackos. Give me the case # and court and I'll have em send some docs to me. Have any depositions taken place I can read?

woog
come on man. It's not all been a ponzie for 40 years. I posted on that before. Ya get in trouble keepin up the return and ya start the new money payin the old deal. The dudes not an idiot and the papers act like it's all based on nothin. Madoff said ponzie cause he was usin new money as the redemptions got outta hand. The pump and dump economy killed the goose. Prior ta that we could call it semi ponzie. At the end a the day nothin was left. Ya gotta keep enough balls in the air ta claim you're a juggler or a friggin kid could see your game. Get the SEC in your pocket and it's got a life span.

My private message answers
I'm not a paid member and don't want a free trial so ya get my answers in public. 12-20 I've not had any affiliation with NIR, ever. I'm the voice of a group of investors. My interest is in certain technologies for reasons that go back to consultin work I did in the past. 12-29 I'm not a liberal. I'm a born fighter. Because of abilities I developed early in life I ended up in places that look for dudes like me. English is my second language but the primary for many years. I only care ta talk to those who understand my fked up grammer. I can write a technical paper if needed. I do when it's needed in order to get done what I need done. If I went inta much more detail you'd think I was bs'ing ya and playin a dumb game. I'm not. I'm simply tired of what I see and have been involved with for years. A serious overhaul is needed or you're not gonna like the future.

Have ya looked at your company short sale position?
NIR converts shares at a big discount. If no short position is there they simply get more shares for less dollars. As the pps drops look for that short position ta develop. I've been affected as an investor by NIR. My interest is self serving. I've got plenty ta say that I haven't mentioned yet. If I do need ta mention it it's gonna be where I get my biggest return. I'm not totally against NIR yet. They've had their wake up call. I understand their business and their incentives. If things I've mentioned change I'm on ta other things. If not I'm in the game ta win. Either way OTC investors will gain. I said a week or so ago that new posters would arrive. They have and more will come. The more the better. I hope a bunch a burnt CEOs show up. If ya have a real beef get tagether and go after the perp. I know of some that have plenty. Each will look out for their own company but the "power in numbers card" just got a lot more valuable. The people I talk to have pretty long term visions and from what I'm told would rather make sense than try ta destroy. No one wants ta be a victim. Investors want that level playin field and dudes like you and NIR want ta make profit. That's the way it should be.

expar I forgot ta ask
Why the hell are ya nervous about askin questions and providin opinion?

Ponzie woog, come on dude
Pre bust Madoff investors didn't follow up on that sht. The statements are whatever Madoff wrote on that day. Bernie was the king. Everyone trusted Bernie. Great returns for 30 years. Just like last month I got my 11%, I don't need ta check this out. That's Bernies job. Now it's different. Thanks Bernie. They'll be a bunch a Lee Harvey Oswalds in this game. SEC will change and heads will roll. It's a matter of which ones and who pushes the right buttons.

expar
There are ways a funder like NIR can use ta drive the pps (share price) down. The mere fact that a company was funded by NIR usually does the deed. When ya add paid bashers, and a host of other illegal activities ya drive it down fast. Hedge funds work for themselves and their investors, not those they fund. In fact they have incentive with short sellin ta work against those they fund. They make profit as they sink companies and try ta please investors. The fund makes money with a % of earnings as well as money invested. 2%/20% would be 2% of the invested amount goes to the h fund as well as 20% of that earned. Strong incentives ta make a profit anyway possible. A gate is a term used to describe investor liquity. A redemption is the investor takin money out. Gate closed means no investors are able ta take out their own money. MM's are Market Makers. OMM Options Market Makers. That's enough info ta get ya goin. You can figure out how MM's and funds can work together in a rigged game and some of the other dirty deeds that take place. By design. Think about the ways you could pump up a pps and when the fall comes and you have a big hand in it, ya can profit big on the freefall. Remember, funds work for the returns and the investors not those they fund. They have lots a reasons to work against the company they funded. Especially on the OTC. Now they've lost credibility and investors want out. Big problem. Madoff may have done the public a huge favor. That's sad ta say but true. The bullsht needs ta get stopped before it's too late. Too late is very close. I really doubt NIR wants ta be in the eye of this hurricane. Who would. We'll see.

The fallout they have to deal with.
Even the residents know when it's house cleanin time. An unregulated industry dealin with peoples investment. What a friggin joke. Does anyone really wonder what type that scenario attracts? The hedge funds are just part of a broken system. Like I posted before. We allowed a pump and dump economy to exist. If ya don't think you've been manipulated for a very long time there's nothin I can say ta help ya. What caused the cancer? What will stop the cancer? Are there even enough brain cells left to answer? That's a sociology question folks. Dogs that are trained ta bite, bite. That's a little reality comin from a dude that has been front and center in that world for a long time. Smoke and mirrors works.

By MARK DeCAMBRE
The stink caused by Bernie Madoff's admitted $50 billion Ponzi scheme is spreading to the one-time darling of the well-heeled: the hedge fund.

MORE: Madoff's Son In Shopping Gall

Shell-shocked investors - even those with no exposure to the Madoff madness - are beginning to pull their fortunes out of hedge funds at a stepped-up pace.

Citco Fund Services and other major service providers to the industry said redemption requests are ratcheting up as investors seek safer havens in the wake of the scandal.

While concrete evidence in the highly secretive world of hedge funds is hard to come by, large private wealth-management firms like Union Bancaire Privée are even said to be encouraging at least some of their clients to pull out of hedge funds entirely.

Christophe Bernard, director of investment policy at Switzerland-based UBP, which announced last week that it had marginal exposure to the scandal, told French newspaper Le Temps that his firm "reduced significantly the weight of hedge funds in the portfolios of our clients."

So far, the impact of Madoff's reported misdeeds have had the most direct effect on the funds run by Walter Noel's Fairfield Greenwich Group and the $2.8 billion Kingate Global Fund, which is run by Kingate Management.

Both managers were big promoters of Madoff's advisory business, reportedly charging fees for directing investors into the funds as well as running their own batch of funds.

The scandal has also taken its toll on charities and other organizations that had money invested with Madoff directly or indirectly. Many of those groups have been wiped out, closing up shop in the days following Madoff's Dec. 11 arrest.

The fallout comes at the worst possible time for hedge funds, which have seen many of their biggest and brightest stars fade as the credit crunch has triggered a wave of withdrawal requests - known in the industry as redemptions - from skittish investors.

Last week, Ken Griffin's Citadel Group was forced to halt redemption requests in its flagship funds Kensington and Wellington after they reported losing half of their values in the past several months alone.

To be sure, even before the Madoff collapse, hedge funds were going out of business in droves.

According to Hedge Fund Research, the number of hedge funds shutting their doors in the third quarter more than tripled to 344 from 105 a year earlier.

Now the worry is that hedge-fund clients will use the scandal as a final reason to pull money from even solid-performing managers. Although Madoff technically did not run a hedge fund, the structure of his $17 billion asset-management operation was similar to some hedge players.

What's more, Madoff's ties with hedge fund of fund mangers, who placed their clients' money in his advisory business without doing the kind of due diligence that might have uncovered the alleged scheme, has further eroded confidence.

"Risk tolerance is at a historical low," said Ken Heinz, president at HFR. "The hedge-fund industry is currently experiencing a structural consolidation that mirrors broader trends across the entire financial industry."

It is interestin stoxx
How come BSWB wants everyone ta play nice at the expense of interest? Interest and senseability. If nice described the players in this game this forum would not exist. Nice? Ya don't send The Red Cross to the front line ta fight your enemy. It just don't work that way even though some would like ta think so.

Woog world.

What's up woog?
Did I go from nuts and needin meds ta thinkin straight in three friggin days? Maybe I'll get a private reply from Tina Marie containin hubbies vacation schedule next. Is there gonna be anyone left ta battle with? I may have ta go back ta just makin money.

One more thought woog
Options trading has virtually no bearin on the OTC. OMM's want ta short whenever the feel like it ta rig the game. Option prices today have little or less of a real relationship to the underlying asset because of the rigged game. That needs ta go away. If a MM doesn't want ta fill an order they shouldn't. Only option they should have is fill or don't. That simple action will establish real value. The same kinda crp happens on the OTC with short sellin. I suspect NIR knows that gig is up and thus their entry inta the options market. It's the standard hedge fund move. It also means lower returns for NIR's investors. Another sign that the old OTC short game is history. So the 2/20 fund becomes a 1/15. Survival time. Fund managers are talkin to each other. It's clean up or get cleaned out time. They've never had ta deal with such a climate. 50% of the hedge funds are goin bye bye. The smart will survive and they'll make money. As long as the playin field is level I have no problem with that.

Ya woog
I'm sure you can figure out that market makers, naked shorts and Madoff are some of my favorites. I get a kick outta the Overstock dude and his battle with the SEC over this crp. Not so many are callin him nuts these days. Cox claimed he was agaist naked shortin and it appears that was only when it applied to some, not Madoff. Cox is history now. The SEC is in deep sht, the changes and regs will come soon after Obama takes office. Anyone who thinks those OMM's aren't workin with funds are friggin lame. Any fund that shorts those they fund or has a third party do it for em should be shut down, period. When ya leave billion dollar funds unregulated and they have the right SEC dudes in their pocket ya got trouble. Ya attract Madoff, Sam Isreal and others of that mentality. Now Congress and the SEC get ta deal with what they created. Just like my parents had ta do with me.

If ya wanna look at history there's links in post #38
None of it means much if ya wanna use it as a crystal ball. It's gonna be a lot harder ta dodge bullets now and the bullets would be much larger.

Let's see how it goes stoxx
I'm bettin we see a lot less of the paid poster nonsense. It better or I assure you they will have big problems. If they want their smart ass posters to run interference for em they better get a friggin clue. I'm gonna key on the clean up needed at NIR as well as many others. Their bull sht affects me, you and many other shareholders. It's just been a matter of time. The time is now. Believe it or not I've been told by those that deal with NIR day to day that a change is takin place. I'm not seein much other than the muzzel put on some a their posters. I do trust those tellin me what they see though. NIR knows the facts. It's just a matter if they wanna test folks. If they examine who has what ta lose in this situation they'll get smart quick. For all I know they already have. If so I'm good with it. I don't know any of em personally. This Ribotsky dude could be a nice guy or a little dik. I don't give a rats ass. He is the dude that will direct his group and he may need better quotes than "it looked like fun" if the model I'm lookin at comes ta pass. I'd much rather be postin about technology than NIR but like I said "balls in their court". They know what I'm all about. If they want more, they'll get more. I doubt they'll like it.

stoxx
Each one of these companies is gonna have their own story about NIR. The 10ks, 8ks, SB2s etc don't mean that much ta me. The real relationship between the companies and NIR means a bundle. Some of the companies are plain old pump and dump companies that work with others like NIR ta play their game. Others have stepped up and went ta court with their NIR complaints. Those usually get settled. The threats fly back and forth and when that bull sht is done they really don't want ta go to court. There are others that are in a position ta do real friggin damage ta NIR. In all of those Edgar filings you'll find little that will bother NIR. When I go to the individual companies I ask specific questions. Usually the answers are yes, no or ignored. If I get some answers and one or two are ignored for now there's a reason. I know of things that would be the last friggin things NIR wants public. As of now I'm more interested in the companies I talk to than NIR. That's unless NIR refuses ta wise up. I'm particulary interested in some things that went down in 2007. A lot happened that year. Read up on Merrill Lynch. Here's three questions I think are key to ask.
1. Did your terms get changed retroactively?
2. Did you deal through Envision Capital or any other broker?
3. Were you forced into any relationship by NIR ot their reps?
There's more but this is where to start. NIR has stated through their attorney that they never short sell. You can bet that's true. If you put the right ass on the line you will find out that second parties did and they have a close connection with NIR. Too close. I believe it was you that posted about media interest in NIRs antics. That's the last the last interest NIR wants and the light it will turn on. I know those that have been contacted by the media. Those with a very interestin story ta tell. I'm sure there's more. These dudes primary interest is their own company not NIRs relationship with others. That's understandable. I can tell ya for sure that if they hit that tippin point the gloves come off. I've posted elsewhere that I expect things ta get interestin. They have and we'll see how much more comes down. I really think NIR knows the gig is up as it was once played. That's a friggin no brainer. Let's see how smart they really are and who else steps up with real info. Wow has his beef and probably could add more from his perspective. The paid posters are droppin off. Their spin is too transparent and there are too many facts that some don't want public. The more they wanna play on boards like this the more they're gonna get. Ball's in their court. I'm interested in findin out how friggin smart they get and better yet how fast. So far I've not been impressed and they just haven't got the friggin real pic. Like I said, we should have some fun. One way or another I'll have plenty.

wow

Did PDPR take an NIR beatin? Sounds like you're pretty pssd. I do know what ya mean and that's been mentioned by others. Just spec so far. Do you know is PDPR dealt through a broker? I can see the period when the short game was played. Any other nonsense you know of? I saw a PR they put out right before funding that mentioned an outside PR group I believe. That kinda interests me.

Hey wow
I don't think they will. At least as of today I don't. The jury is still out with me. Let's see if they have the survival insinct needed. I've had a few discussions lately with those that have direct dealins with NIR. The tone has changed a bit. I know that if just a few of the right people were inclined ta make the effort NIR would be in deep sht. I've read the no short sales they've made and it's bull sht. NIR people were sellin short. I also know ties they have that are a big part of the dirty pic. The game. stoxx put tagether a nice list of companies NIR has funded. Some are honest and real and some are not. If someone really wanted ta cause huge problems for NIR all the pieces are in place ta stab em in the heart. I think you know that and it wouldn't take a genius ta start a wreaking ball rollin. There are some that NIR does not want to screw with for good reason. Patiet people that are about at the end of their rope. When they jump it's game on. I have plenty more ta say if needed. I've seen enough but have told others I'd give it some time based on what I've heard as well as that I've posted. I'll just leave it at that for today. Keep postin wow. Ya got friends.

I think Mr Woogies

head exploded Tina. The last time I saw him he was mumbling about meds and nuts. I think he has crabs.

Tina
How can ya nag about my grammer while hubby is losin the friggin farm? Put your effort where ya get the biggest return. I could half way understand my first wife gettin pssed with me goin awol for three weeks at a time. Grammer I don't get. It's like pullin weeds while your house burns down. Or somethin like that.

Happy holidays all

and I mean all. I'd love ta provide ya all with a brighter future. It's tough when what is needed is a small town mentality and most of us live in large cities.

stoxx
Woogs a perfect example of the mentality my personal attacks are aimed at. Ya can bet your ass NIR and others read every word posted here. Somethin had better click with em all or they'll have bigger problems ta deal with then they do now. I throw my stuff out there and the idiot posters can't seem ta think before they reply. It's friggin amazin to me. Some readers will realize that they are under personal attack and have been for a long time. When dudes like the moderator here say no personal attacks I just want ta laugh. There are thousands in the finance world that must get personally attacked before it's too late. Those that are in bed with em love ta keep personal attack out of the populations consciousness. The generation that is getting attacked thinks you can flash a peace sign at the attacker and it will get better. I don't work that way folks. I love the personal attacks on me. It speaks volumes. To establish idiocy ya need idiots or there's no scale.

A little more
Woog do ya wanna talk about false flags and on topic posts. Ya better broaden your view of what the real topic is these days. Tina Marie, same message. It's why I'm not a tehehe guy. I've seen what follows and ya both know it's time more than lip service be paid to the situation. I actually hope NIR and others get the picture. Time ta forget the schemes and look hard at your future or you won't have one. Does anyone wanna step up and tell me I need meds?

Investor who lost $1.4B to Madoff kills himself

AP – People walk out of 509 Madison Ave were Rene-Thierry Magon de la Villehuchet had an office, Tuesday, … NEW YORK – He was a distinguished investor who traced his lineage to the French aristocracy, hobnobbed with members of European high society and sailed around the world on fancy yachts.

But after losing more than $1 billion of his clients' money to Bernard Madoff, Rene-Thierry Magon de la Villehuchet had enough. He locked the door of his Madison Avenue office and apparently swallowed sleeping pills and slashed his wrists with a box cutter, police said.

A security guard found his body Tuesday morning, next to a garbage can placed to catch the blood.

The bloody scene marked a grisly turn in the Madoff scandal in which money managers and investors were ensnared in an alleged $50 billion Ponzi scheme. De la Villehuchet is believed to have lost about $1.4 billion to Madoff.

No suicide note was found, said NYPD spokesman Paul Browne.

De la Villehuchet, 65, was an esteemed financier who tapped his upper-crust European connections to attract clients. It was not immediately clear how he knew Madoff or who his clients were.

He grew increasingly subdued after the Madoff scandal broke, drawing suspicion among janitors at his office Monday night when he demanded that they be out of there by 7 p.m. Less than 13 hours later, his body was found.

His death came as swindled investors began looking for ways to recoup their losses. Funds that lost big to Madoff are also facing investor lawsuits and backlash for failing to properly vet Madoff and overlooking red flags that could have steered them away. It's not immediately known what kind of scrutiny de la Villehuchet was facing over his losses.

De la Villehuchet (pronounced veel-ou-SHAY) comes from rich French lineage, with the Magon part of his name referring to one of France's most powerful families. The Magon name is even listed on the Arc de Triomphe in Paris, a monument commissioned by Napoleon in 1806.

"He's irreproachable," said Bill Rapavy, who was Access International's chief operating officer before founding his own firm in 2007.

De la Villehuchet's firm enlisted intermediaries with links to wealthy Europeans to garner investors. Among them was Philippe Junot, a French businessman and friend who is the former husband of Princess Caroline of Monaco, and Prince Michel of Yugoslavia.

De la Villehuchet, the former chairman and chief executive of Credit Lyonnais Securities USA, was also known as a keen sailor who regularly participated in regattas and was a member of the New York Yacht Club.

He lived in an affluent suburb in Westchester County with his wife, Claudine. They have no children. There was no answer Tuesday at the family's two-story house. Phone calls to the home and de la Villehuchet's office went unanswered.

Guy Gurney, a British photographer living in Connecticut, was friends with de la Villehuchet. The two often sailed together and competed in a regatta in France in November.

"He was a very honorable man," Gurney said. "He was extraordinarily generous. He was an aristocrat but not a snob. He was a real person. When he was sailing, he was one of the boys."

The two were supposed to have dinner last Friday but Gurney called the day before to cancel because of the weather. But during the call, de la Villehuchet revealed he had been ensnared in Madoff scandal.

"He sounded very subdued," Gurney said.

Gurney said de la Villehuchet was happily married to his wife.

"I can't imagine what it's like for her now," he said.

This is pretty sad
How can any poster find fault in those that dig for facts in a dirty industry that produces these results. Wake up folks. This isn't an isolated case. Some might want to read on the Fall of the Roman Empire and see if it triggers what brain cells are left. NIR is a bit player in the present situation. They had better wake up. For a lot a years I've been paid to look at present landscapes and predict what the future holds and how to deal with it. When the tipping point has been past you have a major problem. We have a major problem.


STORYPHOTOVIDEO
L’Oreal Heiress Bettencourt Invested With Madoff (Update2)
Email | Print | A A A

By Saijel Kishan and Katherine Burton

Dec. 24 (Bloomberg) -- Liliane Bettencourt, the world’s wealthiest woman, entrusted part of her $22.9 billion fortune with Bernard Madoff through the fund manager found dead in New York yesterday, two people familiar with the matter said.

The 86-year-old daughter of L’Oreal SA founder Eugene Schueller was the first investor in a fund managed by Access International Advisors, the people said, speaking on condition of anonymity because her investment isn’t public. The body of Access co-founder Thierry Magon de La Villehuchet, 65, was found in his Madison Avenue office yesterday. Police said he probably killed himself.

Bettencourt, a Parisian, joins wealthy individuals from around the world, including Spanish billionaire Alicia Koplowitz, U.S. moviemaker Steven Spielberg and Nobel laureate Elie Wiesel, among victims of what Madoff, 70, told investigators was a $50 billion Ponzi scheme.

“More high-profile names who have been victimized by Madoff will start to become known now,” said Ron Geffner, who represents hedge funds at the New York-based law firm Sadis & Goldberg LLP. “There’s a strong sense of anguish, fear and distrust.”

Hedwige Sautereau, in charge of cultural patronage at the Fondation Bettencourt Schueller, the foundation Bettencourt started in the Parisian suburb of Neuilly-sur-Seine, wasn’t available to comment, according to an assistant. Bettencourt ranked 17th on the Forbes list of the world’s richest people in 2008, the highest-ranking woman.

30 Percent Stake

Bettencourt, the only child of Schueller, holds a 30 percent stake in Paris-based L’Oreal, the world’s largest cosmetics maker, according to Bloomberg data. She inherited L’Oreal in 1957 when her father died and holds a seat on its board.

Bettencourt rarely speaks to the media. She gave her first interview in 20 years this month to the weekly Figaro Magazine.

Access, which oversaw $3 billion, raised money mainly from wealthy European investors.

Access said in a Dec. 12 letter to clients that funds including its LUXALPHA SICAV-American Selection invested solely with Madoff’s eponymous investment firm. The fund had $1.4 billion in assets as of Nov. 17, according to data compiled by Bloomberg.

Access says it carries out “extensive” due diligence on the funds to which it allocates money, a process that can take as long as six months and cost $100,000. It also hires private investigators to run “extensive background checks” on fund managers, including searches on professional credentials, regulatory filings and bankruptcy, according to marketing documents dated September.

Suicide

New York police are working on the assumption that de La Villehuchet’s death was a suicide, Commissioner Raymond Kelly said yesterday. The fund manager was found “with his feet propped up on his desk, a trash pail nearby to collect blood,” and no sign of a second person, Kelly said in the interview.

He had cuts made by a box-cutter in the area of his biceps and his wrist, and pills were found nearby, Kelly said at a news conference. No suicide note was found. His body was found at his desk early yesterday morning by a security guard who had been called by an employee unable to enter the office, Kelly said.

De La Villehuchet founded Access in 1994 with Patrick Littaye. One of the firm’s partners was Philippe Junot, according to the marketing documents. Junot is the former husband of Princess Caroline of Monaco. Prince Michel of Yugoslavia is an investor relations executive, according to the documents.

International Background

Prior to Access, de La Villehuchet was chairman and CEO of Credit Lyonnais Securities USA, the U.S. investment banking arm of the French bank. He had joined Credit Lyonnais in 1987, and before that ran Interfinance, an international brokerage firm specializing in French, Belgian and Italian stock markets that he founded in 1983. He worked at Banque Paribas from 1970 to 1983.

Access, which had 26 employees, said in a statement on Dec. 12 it was working with lawyers to assess its exposure to Madoff. UBS AG, LUXALPHA’s administrator until this year, is no longer involved with it, said Karina Byrne, a UBS spokeswoman.

De La Villehuchet’s death comes as lawsuits mount in connection with investors victimized by Madoff. Fairfield Greenwich Group, a hedge-fund firm that had $7.5 billion invested with Madoff, has been sued for allegedly failing to protect its clients’ assets. Madoff was arrested on Dec. 11 and is now under house arrest at his apartment in New York.

To contact the reporters on this story: Saijel Kishan in New York at skishan@bloomberg.net; Katherine Burton in New York at kburton@bloomberg.net

Last Updated: December

OK I'm the funnyest
and probably a bit smarter than the hubby. You're also doing a fine job with your IRA. So what do you think or know about NIR?

Nice list stoxx
I was gonna post a list of things a good investigative reporter would need to ask of NIR and your list was one of em. The right investigative reporter should go to each CEO and ask several key questions. Some are in NIR's pocket and some are honest companies that have had NIR workin against them.

I'll cut NIR a little slack
with their new fund Cortan but I'll be watchin closely. I don't trust NIR at all but have posted that some hedge funds will get smart and many others will disolve. NIR has been a 2% / 20% fund. A total rip off that needs to change. It means the fund gets 2% management fee and 20% of profits. A gate is another death wish today. A gate is the closing of investor ability to redemption of invested money. I believe NIR now has a 3 year gate or an option to give a couple of months notice and then you could take out 1/8 of your funds per quarter. I'm not clear yet but it may be that you get a lower fee structure with the 3 year gate. All this is bad stuff. I'm leaving out what they do to funded companies for now. It appears this new fund Cortan may be a 1%/15% futures fund. Options. That can be good or bad but in todays environment it's probably good. It's a conservative strategy. NIR's Cortan PR is full of mumbo jumbo that says just that. It involves collars or split strike positions. You can read up on it but it's an up or down movement protective strategy. It mitigates loses but is not a strategy for big gains. It was also used by Madoff on his reports but was mumbo jumbo bull sht in his case as we all now know. This surely isn't the end all for NIR but to be fair I'll watch ta see if it means a change that brings credibility. They could be listening to sound logic being given in their industry. To survive they will need a good plan and understanding investors and funded companies. There's a lotta dirt ta clean up. There's more I'll post on some good and bad signs as they develop.

Hey BSWB
Be sure ya know what really applies. Trust me, there's some things that seem rather indirect right now but as things shake out they become very pertinant. I happen ta think most of the posters I've talked with are NIR plants or complete idiots but have no problem with them stating their opinion. Ya have ta draw a line somewhere but don't be too quick ta over manage. Your site just became more popular and will keep movin in that direction. You've had months where no one even cared ta post and when they did it was trivial. There's some major events that will play out in the hedge fund world. You can bet the plants aren't gonna like what I post. I'm interested in the big picture. We've had a pump and dump economy for some time now. On your intro page you have many links to companies, articles and events you are lookin for that may have been used by NIR. NIR is guilty of useing them all. Some are not my place to post about. You have readers that will at the right time. The posters that show up that seem to not apply to NIR actually do. Some of us are after the facts, the truth. Other than Tina Marie I've seen nothing I didn't think applied. Keep an open forum buddy, you'll lose a lot of interest fast if ya don't. There's order amongst the chaos. I'd really like to hear from the poster again who posted about the media attention. So far the only poster that I talked with who is lookin for facts is stoxx. More will come.

Redemptions will increase

The NIR Group LLC | Hedge Fund Note

The following piece on NIR Group LLC is being published as part of our Hedge Fund Tracker Tool, our daily effort to track hedge funds in the industry.

Resource 1: New York-based NIR Group, a $7 billion alternatives finance shop, is restructuring its AJW family of funds following a wave of redemptions.

A source told FINalternatives that the firm’s AJW funds, which focus on small- and micro-cap companies’ convertible securities, “are seeing very significant redemptions,” forcing the firm to restructure the funds “immediately.” Investors are being offered either a three-year lockup or a quarterly redemption system with 90 days’ notice, although the latter allows clients to withdraw just one-eighth of their holdings per quarter. In return, NIR is slashing fees from 2% for management and 20% for performance to 1% and 15%, respectively.

NIR said in a statement that the move was necessary to protect the capital of all investors.

“Recently, due to circumstances outside its control, The NIR Group elected to restructure several of its hedge funds, the AJW Family of Funds,” the firm said.

“The funds, which specialize in asset-based investment structures, have received more than normal redemption requests from investors who need to meet liquidity calls of their own. The proposal seeks the commitment of investors’ capital in two new structures for longer terms and includes reduced fees for NIR Group. The background to the new structure proposal is due to the recent market turmoil and poor liquidity of the investors themselves in the AJW funds. These redemptions are not in any way tied to poor performance.” Source

stoxx
I've read your posts. You're lookin for the truth. The facts. We're on the same page. Any stock board that is about NIR or any company funded by NIR will have 50% NIR directed posters. They play the short game but are too timid ta be up front about it. That and a bunch of other nonsense they pull will be their undoing. NIR is all about deception. I'd advise any of their investors that read these posts ta start lookin deep like Madoff investors should have done. Look at the crap that has become public about NIR already. There's more. There's a former SEC attorney named Badway that has it out for em. He'll have a more listenin ear in the future. Forbes is gatherin the info right now for a nice little article. Investors want to bail and Ribotsky closed the gate. Now we see the Corey Tanney (Cortan) fund show up as a lame attempt ta mitigate risk. They still can't see that a ridiculously worded PR is not gonna stop the exit. It's gonna speed it up. They just don't get it so we get ta read words of wisdom from woog and that other idiot who thinks Jewish is a racist word. Friggin classic.

False flag crap?
Wait til Dec 31 woog. NIR already knew what was comin and closed the gate. What part was false flag woog? SEC changes? Massive redemption requests? The Madoff stuff? Damn woog, you're startin ta sound like ya speak for others and have certain things ya don't like talked about.

Before Madoff hedge fund report
Do ya think it's gettin any better? Compare October to today. Yep new SEC, new media focus and heads will roll. Unregulated will become regulated. Will NIR survive? Maybe. They looked up a saw the vultures and went inta full fledged damage control. IQ checkin time is here. Not a bad thing. Who wants idiots playin games that effect millions?

October 9, 2008
Markets R.I.P: The Great Unwind
By Andrew Mickey
Chief Investment Strategist, Q1 Publishing
Pensions & Investments magazine warn, “Bloodbath Ahead.”
Reuters predicts, “D-Day for Hedge Funds as Redemptions Roll In.”
CNN cautions, “Hedge Fund Blues are Just Beginning.”
The markets sit perilously on the edge of disaster. A downward spiral is getting stronger and there’s not much that can be done about it. And one of the leading has been and will be hedge funds.
The redemptions are playing a big role in the current market selloff. And they could spark the next round of a disastrous spiral.
It goes like this. A few investors say they want their money back. A hedge fund has to sell what it can to pay them back regardless of how bad the timing may be. They are forced to dump shares onto a market with very few buyers. The market slides even more. That slide leads to more fear, more redemptions, more selling, and on and on.
Normally any single fund unwinding its positions can be absorbed by a healthy market. But the market isn’t healthy. And if just a small percentage of the 9,000 hedge funds with more than $1 trillion under their control (and a lot more borrowed money that needs to be unwound) push the sell button at the same time, the impact on the markets can be huge.
Over the past few weeks a lot of them are pushing the sell button.
Hedge fund performance is down…way down. Eurekahedge, which tracks hedge fund performance, says less than one in 10 funds of the 4,000 it tracks are in positive territory. Even Maverick Capital and Greenlight Capital, two former top tier hedge funds, lost an average of 16.1% according to Bloomberg.
Hedge funds are falling apart. And investors are demanding their money back in droves. It’s getting so bad a record number of hedge funds are closing up shop altogether.
There are some big funds that have to sell out completely. Sowood Capital Management recently closed its doors after dumping what was left of its $3 billion in assets. The $2.8 billion commodity trading fund Ospraie closed its doors after its value fell 40% in August. Two Bear Stearns multi-billion dollar hedge funds practically took down the entire firm.
And those are just a few of the big ones. Hundreds of smaller funds are going through equally tough times. CNN reports, “By the end of the year, it’s estimated 679 funds will be shut down.”
They shut down and liquidated.
The spiral continues…

Operational risk

Unfortunately, such failures in due diligence happen all too often when investors focus on financial risk rather than operational risk, said Stephen Brown, a professor of finance at New York University who has extensively studied hedge funds.

Investors, in the case of Madoff, were so blinded by the reputation and returns that they didn't dig deeper into how the place really worked. Some of that may have been a function of cost, Brown said.

Conservatively, due diligence costs between $50,000 and $100,000 per hedge fund, so the cost of performing due diligence on 10 funds for a fund of fund portfolio can reach $1 million. At the same time, most funds of funds charge a 1.5 percent management fee to investors. That means a $20 million fund of funds might bring in $300,000 in management fees, not enough to cover cost of due diligence, Brown said.

Brown thinks the Madoff case might be another cause of the collapse of hedge funds, which are already being trounced by the declines in financial markets in the past year and the rise in redemptions from investors. He believes that smaller funds with assets below about $13 million will be the most vulnerable.

"There will certainly be a cleansing wind that will blow through this industry," he said.

That won't be a bad thing. This case certainly tells you why.

I've been told that
for years. Only by the half who are feelin jumpy. The other half want me talkin ta guys like you. You can make book that I knew about and read your posts for a long time before i decided ta enter the fun house. Why now woog? Do ya think I don't believe what I post? Do ya think I'm talkin ta you alone?

stoxx
Ya have a problem. You're lookin at this from a moral, senseable view and woog wants ta play lawyer. Makes for a tough conversation. Woog will see the changes come because everyone want's ta cover their ass. Just as the companies NIR funds means nothin to them, NIR means nothin to those who need heads ta roll. It aint gonna be a lawyer game. It's political and those that need ta cover their ass know they need to appear moral. No different that NIR sayin they work with their funded companies while they short em among other real dumb activities. A year ago they thought they were untouchable. Now they're in a friggin panic. I think like you stoxx but I know the game. NIR could always fail because of cancer from within, the investors. Now the investors listen to that comin from the outside, you. A year ago no one from the outside was gonna bother em. It's now changed and they know it. Ask doesduedilligence. The friggin idiot who thinks the word Jewish is racist. He could a waited until I called him a friggin idiot and had a better chance at havin me banned but he didn't want my info on this board. The dude needs ta learn how to maintain under pressure. Panic makes ya dumb up real bad.

Woog
AJW is open but closed to investor redemption. Does that mean anythin?

Times have changed and who knows what returns were. Paper returnes mean nothing. No redemptions means a bundle.

NIR may or may not be a ponzie. Partial ponzie would be a better guess. You can bet your ass their not liquid.

What the hell are ya talkin about "no problem" Was NORMA a problem? Are the numerous suits and short sellin a problem? There's more I may go into later that's a big problem. When investors see the problem there's a big problem. In todays hedge fund world if ya can't pull your funds out the fund problem becomes their death spiral. Make your own call woog, all of this might look like "no big deal' ta you.

NIR uses Ihub and other boards to influence penny stock buyers and sellers. The gig is ta drive the pps down. Short sellin woog. As it drops they get more shares per dollar. That's why they plant the bashers. As long as the investors are happy it's no problem in an unregulated industry. Investors aren't happy. Come on woog. Think dude. Do ya think that moron that wants me banned is here lookin for NIR justice? If ya do there's no need for me ta bother with your questions.

Cox is out at the SEC with Bush. A search is on now for his replacement. 50% of hedge funds are gonna fail because of fraud and lack of investor confidence. The SEC will change dramatically in response to the recent frauds and their own incompetence and possible fraud. We can call it the economic death spiral.i

Not a new media. A new story that interests all. Alan Fein and Gary Weiss will have a field day along with many more. New front page stories not media. NIR is bein watched closely.
That's why they panic when I post. I'm keying off them. I'll post the facts as I find em. If they clean house I'll say so.

Woog
Madoff didn't start as a ponzie. It's a battle with these dudes ta see who can attract the big money. Bernie had a great rep. Joined the right clubs, high returns, philanthropic activity with others money. Great guy that Bernie. When the fund couldn't pay the returns it went ponzie. Rumors started and the redemtions followed. Pretty soon ole Bern is turin himself in. Gig up. NIR uses the same tried and true tactics in the penny stock shorting game. Convt. notes at a huge discount. While ya convert ya work to drive the pps down. Get that death spiral going and convert at lower and lower numbers and short the stock. Ya work against those ya fund. Do it on chat boards like this. As long as money keeps comin in and your legal budget isn't blown ta bits ya do fine. NIR could care less about the companies they fund. The work hard ta have em fail. It's the investors they care about. When they loose confidence they ask for a redemption. Some is ok but when ya get too many and you're cash poor on the earnings side ya start ta ponzie or ya close down the redemptons. NIR closed down the redemptions. Are they a ponzie yet? I'm not sure. Are they crooked? Does a bear sht in the woods. You bet. All the stuff ya read about NIR is great for them. They love investors ta bad mouth every company they funded. The lower that pps goes the better. Then it's reverse time. Do a 200 to 1 reverse and start again. NIR investors didn't care as long as they got that statement with a nice return. Same as Bernie's investors. Don't think for a second that a chat board like this hurts NIR. It helps. It's gonna be the investors, the new SEC and the media that is lookin for that nice follow up story that will kill NIR. Read your own posted articles at this site. They said long ago there's more to the story of NIR. Stay tuned. Has the playin field changed? You bet it has.