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Table 2.1 Continued | |
Manager Name |
Company Spun Off From |
Company Formed |
When | |
Miszkiewicz, Mark |
Clinton Group |
Beacon Hill Asset Mgt. |
1997 | |
Morrison, David |
Tiger Mgt. |
yet to be named |
2000 | |
Napoli, Louis |
The Palladin Group |
Quattro Investors |
1998 | |
Nechamkin, Gabe |
Soros Fund Mgt. |
Satellite Asset Mgt. |
1999 | |
Newburger, Barry |
Kellner-DiLeo |
Avery Capital |
1996 | |
Newman, Philip |
Park Place Capital |
Ragazzi Newman |
1997 | |
Nichols, Janice |
Chancellor |
Stanfield Capital Partners |
1998 | |
Niedermeyer, Thomas |
Teton Partners |
Liberty Square Asset Mgt. |
1998 | |
Olson, Brian |
Tiger Mgt. |
Viking Global Investors |
1999 | |
Ott, David |
Tiger Mgt. |
Viking Global Investors |
1999 | |
Ragazzi, Michele |
Park Place Capital |
Ragazzi Newman |
1997 | |
Raiff, Robert |
Soros Fund Mgt. |
Centurion Investment Group |
1995 | |
Rajaratnam, Raj |
Needham & Co. |
Galleon Group |
1997 | |
Rosen, Kyle |
Strome Hedgecap Fund |
Rosen Capital Mgt. |
1999 | |
Rosenblatt, Lief |
Soros Fund Mgt. |
Satellite Asset Mgt. |
1999 | |
Saunders, David |
Tiger Mgt. |
K2 Advisors |
1994 | |
Schultze, George |
MD Sass |
Schultze Asset Mgt. |
1998 | |
Selfeld, Steven |
Paloma Partners |
Cos Cob Partners |
N/A | |
Snider, Arnie |
Tiger Mgt. |
Deerfield Partners |
1993 | |
Sonnino, Mark |
Soros Fund Mgt. |
Satellite Asset Mgt. |
1999 | |
Strasser, Hannah |
Deltec Asset Mgt. |
Cardinal Capital Mgt. |
1995 | |
Strome, Mark |
Kayne Anderson |
Strome, Susskind |
1992 | |
Swain, Brian |
The Palladin Group |
Quattro Investors |
1998 | |
Symonds, Geoffrey |
Steinhardt Partners |
Trace Capital |
1996 | |
Tobias, Seth |
JRO Associates |
Circle T |
1996 | |
Vasvani, Ashok |
Appaloosa Mgt. |
Skanda Fund |
1998 | |
Walton, Clare |
Walton Investments |
Liberty Square Asset Mgt. |
2000 | |
Werlin, Ernest |
Steinhardt Partners |
Highview Capital |
1995* | |
Yobage, Anne |
Deltec Asset Mgt. |
Cardinal Capital Mgt. |
1995 | |
*Stopped trading. |
to receive recognition for good performance, or perhaps a midlife career change. And in negative performance years, key people may have left since the high-water mark meant they probably wouldn't be getting bonuses for awhile. Some may have had a monetary incentive to jump ship.
With too much centralized decision making in one person's hands, it is hard for talented analysts or portfolio managers to be satisfied when they do not have any discretion or authority. It was not until 1999 that Robertson allowed senior analysts to manage 15 percent of the firm's capital where they had investment authority.
At the outset, Soros had no desire to give Druckenmiller a great deal of freedom, either—he had to earn it. Almost a year after he joined
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