Tag Archive | "british"

Richard Garriott’s Portalarium raises money for Facebook games

Tags: , , , , , , , , , , , , ,

Portalarium, the social and mobile game company founded by game pioneer Richard Garriott, has raised a second round of funding. Altogether, the Austin, Texas-based startup has raised $3.6 million to date.

The financing includes money from m8 Capital in the United Kingdom and Founders Fund (the investment fund which includes PayPal co-founder Peter Thiel) in San Francisco.

Garriott has vowed to create the same kind of fun games on Facebook as he did at earlier stages in his career. Earlier this year, Garriott said in an interview that Portalarium is aimed at exploiting the business opportunities in the “third age of video games.”

For those of you who didn’t grow up playing games, it may help to know that Garriott was present for the first age of video games, with the debut of great single-player games such as  Ultima, which was followed by many sequels. In 1997, under his alter ego Lord British, Garriott extended his role-playing fantasy world to the online multiplayer game Ultima Online. Garriott considers the rise of Internet-connected games to be the second age of video games. Garriott tried to exploit that age with Tabula Rasa, one of the most ambitious sci-fi online games, but that title met with an untimely death after six years of effort.

The third age began with the explosive growth of simple, quickly played social games like Zynga’s FarmVille on Facebook. In an interview at the Dice Summit game conference in Las Vegas, Garriott said he knows he is late and the gold rush into social games has happened without him so far. Portalarium launched two simple casino games on Facebook so far in order to test the company’s theories about player engagement, or the trick of getting gamers to play games for a long time.

“We are delighted to join Richard Garriott and the Portalarium team in creating the next great gaming company,” said Joseph Kim, general partner at London-based m8 Capital. “Richard is one of the giants of the industry. He’s a proven entrepreneur and has been a driving force at each of the industry’s major turning points.”

Kim said he liked Garriott’s vision for the future of mobile and social games. Ditto for Brian Singerman of the Founders Fund.

In the past year, Portalarium has released two games — Port Casino Poker and Port Casino Blackjack –  on Facebook and the hi5 social network. According to AppData, those games have just a small number of users. But Portalarium says that those are evergreen products that were created to quickly build out the company’s backend server technology and start interconnecting a player network across platforms and social networks. Port Casino Poker recently launched Apple’s iPad and both iPhone and Android versions are coming later this year.

Fred Schmidt, chief executive of Portalarium, said that the connection with m8 Capital will help the company shape its European strategy while the Founders Fund (which backed Facebook) connection is helping the company connect to the social media scene in Silicon Valley. Portalarium was founded in 2009 and has 12 employees.

We’ll be exploring the most disruptive game technologies and business models at our third annual GamesBeat 2011 conference, on July 12-13 at the Palace Hotel in San Francisco. It will focus on the disruptive trends in the mobile games market. GamesBeat is co-located with our MobileBeat 2011 conference this year. To register, click on this link. Sponsors can message us at sponsors@venturebeat.com. To participate in our Who’s Got Game? contest for the best game startup, click on this link.

Tags: ,

Companies: , , , ,


Article courtesy of VentureBeat » deals

Daily Style Phile: Ellie Goulding

Tags: , , , , , , , , ,

via guestofaguest.com: If you haven’t yet heard the name Ellie Goulding, then let us get you up to speed. See how this British ingenue has what it takes to sing at the Royal Wedding and why the U.K. is so taken with charming Ellie. MORE>>

Article courtesy of %source%

Opening Bell: 05.06.11

Tags: , , , , , , ,

Goldman BRIC Fund Among Most Hurt in ‘Panic’ Commodities Selling (Bloomberg)
The $831 million Goldman Sachs BRIC Fund (GBRAX) and the $825 million Templeton BRIC Fund (TABRX), which focus on Brazil, China, India and Russia, both fell 5.7 percent in the week ended yesterday. The funds, from New York-based Goldman Sachs Group Inc. and San Mateo, California’s Franklin Resources Inc., lost the most among diversified equity funds with more than $500 million in assets and at least 20 percent in energy or basic materials stocks, according to data compiled by Bloomberg.

Glencore IPO Orders Continue To Roll In (WSJ)
Glencore on Wednesday set the price range for the offer at 480 pence to 580 pence, valuing it at around $61 billion, including the new money being raised. Around $10 billion in shares will be sold, plus a $1 billion overallotment. Most of the offer is in the form of new shares. Bankers said the order book was covered after the first day of subscriptions. One on Friday said a “material” amount of orders were added to the total on Thursday, even as oil and silver prices slid sharply.

Paulson’s Biggest Fund Said to Be Down in 2011 After April Gain (SFGate/Bloomberg)
Paulson’s Advantage Plus Fund, which uses strategies designed to profit from corporate events such as takeovers and bankruptcies, is down 1.7 percent in 2011 after gaining 0.1 percent last month, said the person, who asked not to be identified because the returns are private. The fund’s gold- denominated share class rose 6.3 percent in April and 4.9 percent this year.

Bank of America Had Positive Trading Revenue Every Day of First Quarter (Bloomberg)
Trading-related revenue was positive every day and exceeded $25 million on 98 percent of days during the year’s first three months, the Charlotte, North Carolina-based lender said today in a filing with the U.S. Securities and Exchange Commission. In 2010, it had gains on 90 percent of trading days, with perfect records in that year’s first and third quarters, according to previous filings.

AIG quarterly net income drops 85% (MarketWatch)
First-quarter net income attributable to AIG was $269 million, compared with $1.8 billion a year earlier, the company said. On a per-share basis, AIG reported a net loss of 35 cents, versus a profit of $2.66 a share in the first quarter of 2010…AIG expected to make 34 cents a share, according to a FactSet survey of three analysts. A Thomson Reuters survey of three analysts came up with a consensus estimate of a loss of 15 cents a share.

JPMorgan Chase Said to Be Subpoenaed by SEC Over Mortgage Debt Documents (Bloomberg)
JPMorgan received a subpoena from the U.S. Securities and Exchange Commission over failed mortgages, a person familiar with the investigation said, as the agency probes banks including Credit Suisse Group AG for allegedly failing to share refunds from sellers of faulty debt.

RBS core operating profit jumps 25 pct (Reuters)
RBS, which is majority-owned by the British government, made a first quarter loss of 528 million pounds ($841.5 million) after it racked up 1.3 billion pounds in bad debts at Ulster Bank… RBS said Irish loan losses would stay high this quarter before “gradually declining” in the second half of the year. The bank’s core business – namely its main retail and investment banking arms and excluding its insurance unit which is due to be sold off or floated on the stock market in 2012 – had an operating profit of about 2 billion pounds a quarter.

Schumer Tilts Toward Offer by Germans for Big Board (WSJ)
Chuck Schumer, a New York Democrat, remains publicly neutral on the competing proposals: a roughly $10 billion bid from Deutsche Börse AG, which agreed in February to buy NYSE Euronext, and a hostile, $11 billion offer from Nasdaq OMX Group Inc. and IntercontinentalExchange Inc.  But Mr. Schumer is favoring the German deal as the best way to protect New York, according to the people who have spoken with him. Mr. Schumer focuses on the question so much that he tracks the number of Bloomberg terminals sold in major financial capitals.

Coffee, Sex, Blowing Nose May Increase Risk of a Stroke, Dutch Study Finds (Bloomberg)
Researchers from University Medical Center in Utrecht, the Netherlands, analyzed 250 patients who survived such a stroke and identified eight risk factors tied to the event. They included drinking a cup of coffee, which carried the highest risk, having sex, physical exercise, nose blowing, straining to defecate, drinking cola and being startled or angry.

Carlyle faces questions over China investments (FT)
Carlyle, the US private equity group, is facing questions over its investments in two Chinese companies that have been accused of fraud and suspended from trading on stock exchanges in Hong Kong and New York. The scrutiny comes at an unwelcome time for Carlyle, as the manager of some $106bn in funds seeks to burnish its reputation ahead of a planned initial public offering. China Forestry, a Hong Kong-listed plantation operator in which Carlyle has an 11 per cent stake, and China Agritech, a Nasdaq-listed fertiliser maker in which Carlyle has a 22 per cent stake, have both had their shares suspended from trading in recent months.

CME launches London clearing house (FT)
CME Group is considering offering clearing services to exchanges in Europe as the largest US futures exchange establishes a beachhead in the region by launching a new clearing house in London on Friday.
The move into clearing in Europe highlights the Chicago-based operator’s ambitions to expand into Europe, where CME’s two biggest rivals, IntercontinentalExchange (ICE) and Deutsche Börse, have established clearing businesses.

US Lawmaker Wants To Require Whistleblowers To Report Internally (DJ via WSJ)
A U.S. House Republican lawmaker plans to introduce legislation that would require whistleblowers to report wrongdoing to their employer to be eligible for a Securities and Exchange Commission bounty program, Dow Jones reported.

Indonesia Imposes More Sanctions on Citigroup (WSJ)
Bank Indonesia on Friday announced a raft of additional sanctions against Citigroup Inc. as investigations continue into the alleged embezzlement of millions of dollars and the death of a debtor…[Bank Indonesia Deputy Governor Budi] Rochadi said, the central bank imposed a number of restrictions on Citi’s operations in Indonesia, including a one-year ban on the local unit signing new clients to its Citigold wealth-management unit and a two-year ban on it issuing new credit cards. The central bank also forbade Citi’s local unit from opening new branches in Indonesia for one year and imposed an offshore travel ban on some of the unit’s executives, effective from Friday, while investigations continue.

Allen Stanford Indicted Again as Prosecutors Drop 7 of 21 Criminal Charges (Bloomberg)
The original indictment contained 21 criminal counts. The new one contains 14, including conspiracy to commit money laundering, obstruction of a U.S. Securities and Exchange Commission investigation, wire fraud and mail fraud. Two wire-fraud counts were dropped as were five mail-fraud charges. Stanford, 61, still faces five of each count, conviction for any one of which could result in a maximum sentence of 20 years in prison.

A wide-open Derby field of odds (USA Today)
With so many unknowns among local 3-year-olds, it might pay to take a chance on Master of Hounds, a new face shipping in from afar — Ireland, via Dubai in the United Arab Emirates. Trained by perpetual Irish champion Aiden O’Brien and owned by the imposing Coolmore partnership, Master of Hounds has never raced on dirt, but the same can be said for several other leading Derby contenders. Bred to stay every yard of the 1¼-mile Derby distance, Master of Hounds was beaten by a nose in his last start, the UAE Derby run on a synthetic surface in March. Master of Hounds stalked the leaders, burst to the front in the stretch and was just caught after battling gamely all the way to the finish.

Article courtesy of Dealbreaker

Photographer Rankin Celebrates BritWeek With "Rubbish"

Tags: , , , , , , , , , , , ,

Go HERE for more photos by Brent Harrison and tag yourself and your friends!

Happy BritWeek, everyone! Although it officially started on April 26, BritWeek lasts through May 11 (that’s two weeks for those of you keeping score at home), so we still have a whole week to celebrate the contributions of our British imports to the great state of California. Aside from this being the perfect excuse to speak only in the Queen’s English for the next week to get your fake accent on par with Gwyneth’s, it also means there are a slew of hip events like last night’s opening reception of U.K.-born photographer Rankin’s new exhibition, “Rankin’s Rubbish.” Read the full story

Naughty Hawks

Tags: , , , , , , , , , , , , ,

The following post is by Dealbreaker reader and commenter Infinite Guest.

This is the worst time in decades to try to reduce the deficit. Unemployment is immorally high, growth remains anemic, private deleveraging shows no signs of abatement, infrastructure is rapidly deteriorating and the prospect of a stagflationary double-dip recession is all too imminent. Yet the drum beat for deficit reduction is deafening, with everyone from Standard & Poor’s to the Committee for Economic Development to the AFL-CIO keeping time, and the rest of the world joining in, marching for a cure to our ailing fiscal health. But if Dr. Dominique Strauss-Kahn prescribes it, and Dr. Zhou Xiaohuan concurs, then it’s snake oil. Don’t drink it.

To be fair, the cacophony of voices calling for deficit reduction is just that, a cacophony. Each special interest has its own rationale for deficit reduction, political, economic and otherwise, and each one places a different level of emphasis on the goal, with a different timeline, different priorities and tactics for achieving it. The AFL-CIO tepidly supports deficit reduction lite, at the bottom of a list of concerns trumped ultimately by the continuance of its own tenuous relevance. The Chinese are focused on their own political stability, now threatened by commodity inflation and their own rudderless domestic economy. The IMF needs contributor nations to appear credible if it has any hope of enforcing its agreements with debtor nations. The Tea Party misunderstands the inchoate backlash that bought them power as a mandate for Objectivism. President Obama is fighting for his political life. Standard & Poor’s, as near as I can fathom, is simply conducting a marketing exercise. But any attention paid to deficit reduction is wasted. Deficit reduction is not a legitimate strategy, period. It is merely one of the pleasant side-effects of a more balanced national economy.

Of all the various approaches floated to address our deficit, the one that seems most likely to succeed is the high-sounding “shared sacrifice.” Shared sacrifice is bullshit. It’s nationalist bullshit meant to distract pensioners from the exiguity of their pensions. It’s statist bullshit to bully the fortunate among us into silence. Shared sacrifice is what we must do when our homes are under attack by a foreign enemy. Otherwise anyone selling you shared sacrifice is picking your pocket.

The nice thing about using leverage is that when things go your way they go your way bigger. Uncle Sam has used a nice amount of leverage and at least has the sense to recognize (for the most part) that he should continue to do so. But there’s more than one kind of leverage.

At home, literally trillions of dollars are languishing on corporate balance sheets right now for a dearth of good investment opportunities. That would be crazy were it not for the stunning lack of leadership that characterizes our public sector. It’s fundamental: Who wants to invest in a country that can’t get its political act together? Chew on this: Spain is ahead of the United States in alternative energy. How is that possible? Among other advantages we have a more flexible economy, better immigration policy, a better educated and more productive labor pool on our side. Good leaders would find some way to encourage better utilization of all those factors. Or at least to stop discouraging their utilization. They may not even have to write any new legislation; they could start by conducting a better, more intelligible dialogue. Good leaders would signal something to the marketplace other than their willingness to squeeze the yield out of Treasurys at any cost. I’m not breaking any new ground when I say that private dollars invested domestically create jobs, which stimulates consumption, which improves profits. Income tax, sales tax and corporate taxes follow proportionately.

The story abroad is no different. Rather than living up to the ideal of American exceptionalism, we lean ever further toward repeating Queen Victoria’s British empire, sucking commodities out of our colonies as they grow progressively more dissatisfied with the burden of our friendship. It doesn’t end well. And like any pseudo-imperial power, we are too slow to recognize how badly we’re hurting ourselves. The core failure common to our China trade, our wars and our energy policy is that we are shipping boatloads of money overseas to people who don’t even want it. We should be recirculating that capital at home. The “how” is the same here. Our trade deficits, like our budget deficits, are only a symptom of the failure of leadership to encourage domestic investment.

Take care of the economy and the deficit will take care of itself.

Article courtesy of Dealbreaker

Eavesdropping In: Unrest, Violence Continues In Libya; EDC Rave Moves To Vegas; John Galliano Arrested, Suspended From Dior; Airplane Bed Bugs?;…

Tags: , , , , , , , , , , , ,

  • Libya’s Moammar Kadafi claims his protesters are drug-fueled disciples of Al Qaeda’s Osama bin Laden as they close in on the country’s capital [LATimes]
  • This year’s Electric Daisy Carnival rave scheduled for June at the Coliseum has been moved to Las Vegas in light of the widespread overdoses at last year’s [KABC]
  • John Galliano suspended from Dior for a pre-Paris Fashion Week meltdown last night in which he was arrested in the city’s Jewish quarter for drunkenly making anti-Semitic remarks [HuffPo]
  • This is horrifying if true: a woman claims she was attacked by bed bugs from a British Airways airline-provided blanket on a flight out of LAX [KTLA]
  • Charlie Sheen says he’s moving to HBO for his own show “Sheen’s Corner” for which he’ll supposedly rake in $5 million an episode [PE]

Article courtesy of %source%

HSBC Analyst Who Had Knife Pulled On Him By Ex-Girlfriend, Was Jailed For Going On A Date With Another Woman Is Freed, Still Faces Charges, Wrath

Tags: , , , , , , , , , ,


Last week we met Toby Carroll, a New Zealand-born real estate analyst for HSBC currently stationed in Dubai, who’d spent the last two months in prison. Carroll had ended up there after his ex-girlfriend, Priscilla Ferreira, found him and a new girl, Danielle Spencer, in his apartment and proceeded to start slashing curtains, furniture, etc, and go after the Danielle with a knife. The police were called and all three were put in jail because in Dubai, adultery is illegal (still unclear: why the law would apply to people who were a) never married and b) had broken up).

Today brings word that Carroll, who friends describe as as “a fun-loving party boy who was dedicated to his job, a snappy dresser who liked women but wasn’t womanizer,” has been released from prison. So, that’s good news! Unfortunately, some other details seems to suggest things aren’t going to be so great for him in the near term.

Other information that’s come to light includes:

* The ex-girlfriend’s full name (previously she was only identified by the first): Priscilla Ferreira, 24

* Some biographical details on Spencer: “Miss Spencer, 31, has worked in the emirate in real estate and as an investment consultant before moving to a firm that sells yachts last year. She is originally from Hull and worked as a pole-dancer before ending up in Dubai after a round-the-world trip.”

* Carroll “faces charges of having sex outside marriage”

* Ferreira “angrily denied reports she had been dumped by Mr Carroll a day before she caught him in bed with Ms Spencer. She said: “We hadn’t split up, we’d had an argument. We have been seeing each other for five years and were going to get married.”

* Perhaps the most terrifying of all: “Miss Spencer and Miss Ferreira became friends after being forced to share a mattress in the women’s cell at Bur Dubai police station, which is meant to house 40 but regularly holds between 70 and 100 inmates.”

British Woman in Dubai Sex Case Is Released
30 days in a Dubai police cell, sharing a mattress with her Brazilian love rival [Daily Mail]

Article courtesy of Dealbreaker

Bonus Watch ‘11: RBS

Tags: , , , , , , , ,

Yes, bonuses at RBS are expected to be “downsized” at least thirty percent this year but the relatively good news? The bank will get to pay out shitty bonuses on its own terms and not because anyone is forcing them to do so.

The British government has no powers to restrict bonuses at the Royal Bank of Scotland this year, the finance minister George Osborne said on Tuesday. “The (government’s contract with RBS) puts no contraints on RBS bonuses for this year,” Osborne told parliament.

UK government cannot restrict RBS bonuses this year [Reuters]

Article courtesy of Dealbreaker

Chinese startups profit big from US IPOs

Tags: , , , , , , , ,

Was there a clear signal when the British Empire was eclipsed by its colonies? When the New Economy pushed aside the old?

In the digital world, we may have just witnessed such an event.

Wednesday saw two of China’s most visible Internet players go public on US exchanges. Despite raising the filing ranges on both, and pricing each above those ranges, both shot up to levels that provide a clear signal that Chinese Internet companies are increasingly in the pole position. It has been a decade in the making, but investors are now not only willing to concede that China’s players are worth more (per dollar of revenues or earnings) than their Silicon Valley counterparts, they’re willing to bet on Chinese businesses without first having seen the movie play out before in the US. The message: growth rules.

Investors will pay more for the Amazon.com of China (Dangdang) than for Amazon itself. The YouTube of China (Youku) is welcome to tap the US markets even before its Silicon Valley counterpart. Investor demand drove shares of both companies far higher in the aftermarket, with Dangdang (DANG:NYSE) rising 86.9% to close at $29.91 and Youku (YOKU:NYSE) climbing 161% to close at $33.44. Youku set the record for the biggest one day gain since Baidu’s blockbuster IPO in 2005.

While not the first Internet IPOs out of Asia to go public this cycle and immediately trade up, these two stand out. At the very beginning of each upturn, Asian Internet IPOs are priced in line with – or lower than — their US counterparts. However, investors pay up for growth and immediately bid those shares up in the aftermarket to reflect it. As it becomes clear what type of premiums investors are willing to pay for varying levels of growth, underwriters usually narrow the gap over time by pricing the next IPOs at higher multiples. That usually implies a decline in first day pops (before allowing for individual company differences).

Wednesday’s debuts, however, were anything but typical. Their performances reflect unique attributes. Dangdang, China’s No. 1 bookseller online, is, like Amazon.com, more than just a bookseller. The Dangdang.com flagship site is well established across the consumer market. Backed by top venture firms in Silicon Valley and China such as DCM, it has been a long-anticipated listing, as its competitive position is solid, it has a meaningful operating history with significant revenues and it has turned a profit. Most importantly, it is seeing top-line growth north of 50% off of that base. For investors, Dangdang represents a chance to invest in a known business model, a proven team, and participate early in a rapidly growing, and, ultimately, a very large market.

At the first day close, DANG is valued at $2.3 billion, which represents 7.7x latest 12-month revenues (vs. ~2x for AMZN). However, the rapid growth makes a 12-month comparison stale. The spread narrows when looking at the third quarters annualized, and presumably converges if growth continues at a reasonable pace into the near future. Youku is also No. 1 in its market – online video — and has an experienced management team led by founder Victor Koo (previously COO of SOHU). It has blue chip backers including firms such as Sequoia. From there the comparison with Dangdang diverges. A younger company in a younger sector, Youku’s ad-based business model yields a smaller base of revenue ($17.2 million in Q3), but is growing at an even faster pace (over 100% year-over-year). The company is not yet profitable. At its first day close, it has a market capitalization of $3.3 billion, implying a multiple of around 100x latest 12-month revenues.

Even annualizing its latest quarterly revenue of $17.2 million still implies a revenue multiple of around 50x. Even so, other China net listings have gone on from high initial double – or even triple – digit revenue multiples to yield strong returns over time (NTES, BIDU, CTRP etc.). With that higher multiple comes an expectation to deliver exceptional rates of growth.

Although somewhat of a hybrid model with elements of YouTube, Hulu and possibly Netflix, Youku is regarded as the “YouTube of China”. Without a close public US comparable off of which to value the company, the offering is unprecedented. Instead of representing a source of negative uncertainty, Youku actually benefitted as the first major vehicle to satisfy worldwide investor interest in the Internet video space, and has now set the bar against which US players may be measured.

Over the last few years, leading US Internet players have tended to wait as long as possible to go public. However, as lines between national markets continue to blur over time, the Facebooks and YouTubes of the world may conclude that allowing others the advantage of tapping the US equity markets — the most affordable capital available – while limiting themselves to the private markets, is an unacceptable risk to take for any meaningful period of time.

China’s digital elite have demonstrated time and again how difficult it is for foreign firms to compete in a very local market. While both Dangdang and Youku are focused on the Chinese market near-term, now that they have access to US capital at inexpensive levels, perhaps the relevant question going forward is how difficult will it be for Chinese companies to play in the US market?

David Williams is founder and CEO of Williams Capital Advisors, LLC, an investment banking firm serving emerging growth companies. David has invested in pre-IPO and/or acted as lead IPO underwriter for a number of Asian Internet companies including NTES, BIDU, and SIFY.

[Top image credit: Futureatlas.com]

Tags: ,

Companies: , , ,


Article courtesy of VentureBeat » deals

Phil Falcone Would Like To Clear Up A Few Things

Tags: , , , , , , , , , , , , , ,

The last month or so has not been the best of times for Phil Falcone. Harbinger Capital’s flagship is down, Goldman Sachs, Blackstone and some others have pulled their money, investors have been giving him shit for borrowing $113 million from one of his funds (where redemptions had been frozen) in order to pay personal taxes, he had to put up his art as collateral to borrow even more cash (for what, it’s unclear), he’s being investigated by the SEC and every time he drives down the road he just wants to jerk the wheel into a god damn bridge abutment.

First, though, he’d like to put some rumors to bed, and in a profile with the Times yesterday, did just that.

* On the hideous suggestion he’s got a liquidity problem:

Mr. Falcone has been selling investments. He has unloaded stakes in Citigroup and The New York Times Company and a $650 million investment in Inmarsat, a British satellite company. All of this has led to speculation in the hedge fund community that Mr. Falcone and his firm are confronting a cash squeeze. If more investors withdraw money, the whispers go, Mr. Falcone could be in trouble. Nonsense, said Mr. Falcone in an interview in his office. “The last thing I’m thinking about in the morning is whether I have a cash-flow problem,” he says.

* On people not getting that he loaned himself investor money because he really needed it and not because he was just dicking around.:

A little more than a year ago, Mr. Falcone took a $113 million personal loan from the fund, a move that was vetted by his lawyers, he said. Mr. Falcone said a big chunk of his personal wealth is tied up in his own funds. “It’s not like I have $113 million in my checking account,” he said, chuckling.

* On whether or not he’d do it all over again:

“In 20/20 hindsight, I regret being in this position,” he said, leaning forward on the sleek black conference table and clasping his hands together. “This has not been a fun process.”

* On his singing and dancing pig’s name, which some press accounts have wrongly claimed is ‘Pickles’:

Ms. Falcone turned heads with a Prada sensibility and her pet pig, Wilbur.

* On whether or not all this has him freaking the fuck out:

Mr. Falcone has adopted a rather grounded outlook on the ups and downs of hedge funds, including his own. “You can’t go through this business and think every day is going to be a winning day,” he said.

So, just, everybody chill. Phil’s good, Lisa’s good, Harbinger’s good, and tonight, we will dance.

Article courtesy of Dealbreaker