Sunday, May 27, 2012

Brand new details on the credit trader and cardplaying chessmaster who sandbagged JPMorgan's London Whale

More details about credit trader Boaz Weinstein:

He grew up in Manhattan's Upper West Side.
  • He earned the title of chess master when he was 16. At a recent auction, he paid $10,500 to play chess with legend Garry Kasparov. He plays online games with Silicon Valley venture capitalist Peter Thiel.
  • He won a stock-picking competition as a student in New York's prestigious Stuyvesant High School.
  • When he was 18, he failed to land a job at Goldman Sachs. But then he was able to get more interviews after playing chess with a senior partner, whom he ran into at a bathroom.
  • He studied philosophy at the University of Michigan.
  • As a credit trader at Deutsche Bank, Weinstein booked profits in 10 out of 11 years
  • In his heyday, he booked around $40 million in profits each year.
  • He earned the title of managing director at age 27. At the time, he was the youngest MD in Deutsche Bank history.
  • During the height of the financial crisis, his team had lost around $2 billion.
  • In 2005, he won a Maserarti at a poker tournament sponsored by a unit of Berkshire Hathaway. He still drives it.
  • He's banned from Las Vegas' Bellagio casino for counting cards at blackjack.
  • His hedge fund Saba Capital, has $5.5 billion under management and his offices are located on the 58th floor of New York City's Chrysler Building.
  • His wife, Tali Farhadian Weinstein, is a lawyer with the Justice Department.
  • In the hedge fund industry, Weinstein is known as a 'monster,' an unusually aggressive trader.
  • He's currently in talks to buy a $24 million apartment on Fifth Avenue.

Read the whole story at

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