Kompromat

Nothing is more central to the OPM Wire mission than organizing all of Bay Street's kompromat. You can submit any tips you have through our patent-pending One-Klick Kompromat Submission Button in the lower right corner of the blog. If you ever feel down, you can always come back to this page and experience the bliss of Kompromat-induced Schadenfreude℠.

Gluskin Sheff downgraded to low-status
Members Public

An update on Gluskin Sheff under new owners Onex.

HNW shops

Key players in the Bridging Finance shutdown
Members Public

Featuring Ninepoint Partners (the former Sprott Asset Management), Admiral Gary Ng and the former CEO of OPTrust.

Kompromat

Burgundy Asset Management's origin myth
Members Public

If status isn't the most important thing, then why is Richard Rooney - a man with $13 million just in his foundation and the body of a Greek god - insisting on re-casting himself of late as a co-founder of Burgundy Asset Management? Hmm??? Is he really a co-founder? We’

HNW shops

Burgundy Asset Management downgraded to low-status
Members Public

What's the most important thing in life? Give yourself full marks if you said "status". This is why I was so alarmed when I recently came across statistics about average account sizes at Burgundy Asset Management, a firm I previously associated with blue-blood, properly wealthy Canadians. Like the billionaire Jackman

HNW shops

Martin Connell and the Ewing Morris dilemma
Members Public

The Ewing Morris Opportunities Fund had one of the more notable negative performances of 2020. It was still down 21.7% as of November 2020. I have already covered their struggles before here. I mentioned that fund had a $20m investor and I finally solved that mystery. It all started

Hedge funds

Bay Street Lame Ducks taking advantage of wage subsidies
Members Public

Some well-known names on the Street are taking advantage of wage subsidies!

Kompromat

Burgundy Assets Under Pressure
Members Public

Blue-blood money manager Burgundy Asset Management is in flux.

HNW shops

American private equity giant likely ensnared in Gary Ng's loan fraud
Members Public

Big name PE firm caught by rudimentary fraud!

Kompromat

Admiral Gary Ng in troubled waters: $172m loan fraud alleged by IIROC
Members Public

Explosive allegations against golden boy Gary Ng who bought PI Financial for $100m at age 34.

Kompromat

Anthony Melman and a parable on SPACs
Members Public

Onex biggie Tony Melman and the Acasta SPAC misadventure.

Private Equity

Ewing Morris: Even Harry Rosen couldn't save this hedge fund
Members Public

Hedge fund with big-name backers has performance issues.

Hedge funds

Reza Satchu-ration
Members Public

Possibly my last post on Reza Satchu. No promises, though.

Kompromat

Admiral Gary Ng sells PI Financial
Members Public

Dramatic turn in the Gary Ng story, he unloads the firm he had bought for $100m only 18 months prior.

Kompromat

I've got jack squat on Gary Ng
Members Public

New twists in the Gary Ng story!

Kompromat

Move over Mike Katchen, Gary Ng bought PI Financial for $100m cash at age 34
Members Public

The mysterious brokerage owner Gary Ng!

Kompromat

That time Reza Satchu had a home in Nevada
Members Public

A little known part of the Reza Satchu story!

Kompromat

That time I called Reza Satchu's mom
Members Public

More interesting revelations about Reza Satchu, founder of Alignvest.

Kompromat

Reza Satchu: Kevin O'Leary with hair
Members Public

The myth and reality of Reza Satchu.

Kompromat

Montreal family office conned by American She-Wolf
Members Public

Montreal entrepreneur Ariel Shlien is the victim of a Ponzi scheme.

Family offices

BloombergSen: fighting inequality through crappy returns
Members Public

BloombergSen, another fund performance fees and performance issues.

Hedge funds

Eric Nuttall - oil and gas fund manager of the decade
Members Public

Let’s go there and talk about man of the hour, Eric Nuttall. The last man limping in the active management of an energy fund. People want me to talk about Eric Nuttall - I have resisted so far, because he fails the bigliness test. Also, I didn’t want

Hedge funds

More Blind Squirrels of Bay Street
Members Public

Updates on various hedge funds. Jeff Banfield, Waratah, XIB, Avner Mandelman and more!

Hedge funds

Canadian Hedge Fund Death Watch
Members Public

How did hedge funds fare in the March market crash?

Hedge funds

Waratah Advisors - Apology & retraction
Members Public

More Waratah polemics!

Hedge funds

Waratah Performance - A hedge fund that is only semi-crappy
Members Public

Does Waratah Capital Advisors add any value?

Hedge funds

OPM Wire goes activist on West Face's ass
Members Public

My other resolution is to double down on the fire-breathing. Welcome to OPM Wire, Phase 2. You know that advice to newly incarcerated inmates that on your first day, you should pick a fight with the biggest guy in prison so that everyone else falls in line? Today, OPM Wire

Hedge funds

The first 3 funds I ever picked blew up 💥
Members Public

Hedge funds

Wealthsimple, OPM Wire and The Globe are caught in a Mexican standoff
Members Public

Wealthsimple is employing some Trumpian exaggeration tactics.

Fintech

Jeff Banfield, Original Gangster of Arbitrage
Members Public

Jeff Banfield is primarily known as an arbitrageur. After working for many years as a prop trader at banks, he started Banfield Capital Management in 1997. In February 2001, Banfield was allegedly involved in some insider trading shenanigan (or it might have been a kerfuffle, I'm not a regulation expert)

Memba them?

Will Greg Boland keep you warm in the middle of a protracted drawdown?
Members Public

We readily concede that Greg Boland is really astute. But no one is infallible. Every manager has periods of adversity. In such a situation, would his brains be enough to keep giving you warm fuzzies? Some of you may know this as the Shania Test. Forget Sharpe ratios, the Shania

Hedge funds

I tried to contact Greg Boland. I was unsuccessful. I am drawing adverse inferences.
Members Public

I want to turn my attention to Greg Boland and West Face Capital. He's probably the most prominent hedge fund manager on Bay St, manages billions and is a mover and shaker in Canadian corporate boards. Just in case you need a background: his rise on Bay St started as

Hedge funds

Sagard Holdings, Power Corp's answer to Blackstone, has made $27 million since 2005
Members Public

Who is providing capital to media darling Wealthsimple? Power and affiliates? Wrong! You are clearly no Vladimir Putin. Companies don’t make decisions, humans make decisions. Paul Desmarais III is the driving force behind the fintech initiatives at Power. But Paul III is not in charge of Power. His father

Private Equity