Monday, 3 November 2008

Greg Coffey joins Moore Capital

Greg Coffey has joined Louis Bacon's Moore Capital. Are congratulations in order? Well, I don't know. I thought Greg was starting his own hedge fund. And what about the £155 million of bonuses and stock options that GLG Partners offered him to stay on? Has he made the right decision?

I have been speaking to Mr Coffey, but he wouldn't let me get a word in edgeways. This is what the Aussie said: 'I ain't in this for the money, mate. So I ain't worried about no big GLG bonus that I missed out on. I would have only burnt that money in the desert anyway. You see, mate, I'm coming round to your way of thinking. I want to be a financial shaman. I want to dance naked in the moonlight, around a campfire, totally delirious, with all those crazy ghosts you keep going on about. That's the life for me. And the beautiful thing with Louis is that he is allowing me a lot of time off to pursue these desert activities. Louis is a man of the future as well, just like your good self. He can see the value of mystical capitalism. Like me, he's an avid reader of your blog. It's all he talks about, in fact. Michael says this, the master says that, the great shaman is a holy lord to me. That's how he goes on. He won't shut up about you. We're going to be chief investment officers together, me and Louis. Joined at the hip. We'll probably go into the desert and find a cave, and crack open a few tinnies. Just at weekends, you know. Nothing dodgy about it. Bona fide male bonding. It shouldn't be a problem.'

Greg, mate, no one is saying it will be a problem. Good luck with it.