OPMFlix

Serial stories by OPM Wire and some of our best and most original work.

How total outsider Liddle Mo Lidsky built and sold Prime Quadrant in under 10 years
Members Public

Objectively, what Mo Lidsky has accomplished at Prime Quadrant is remarkable. Prime Quadrant's big transformation started in 2011.  Until then, the firm had been led by Ian Rosmarin and his junior partner Evan Cooperman.  Evan left in January 2011.  Fortunately, at the same time, a saviour by the name of

HNW shops

My opening salvo against Prime Quadrant
Members Public

Many people said I could never become presidential and yet I have not written anything incendiary in many months.  I have pulled a complete 180, just like Trump after he won the election (the first time).  Of course, I am only human, so occasionally, I will have presidential relapses.  I

HNW shops

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

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

Jay Hennick: from pool boy to billionaire
Members Public

An under-the-radar billionaire who started from the bottom.

Moguls

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

Moez Kassam, Anson Funds
Members Public

One of the most colourful characters on Bay Street.

Hedge funds

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

That time Brent Belzberg fought Imperial Capital
Members Public

A David v Goliath battle on Bay Street.

Private Equity

BloombergSen: fighting inequality through crappy returns
Members Public

BloombergSen, another fund with performance fees and performance issues.

Hedge funds

John Phillips and Shopify - the biggest angel score in Canadian history
Members Public

Meet Canada's newest billionaire.

Tech/VC

Sam Belzberg's comeback and his answer
Members Public

Start from Part 1 here. Belzberg continued to be an active and opportunistic investor. In 1992, he started Gibralt Capital as his main investment vehicle post First City. He took advantage of opportunities like the Savings and Loans crisis in the US in the 90s and distressed property in Alberta

Moguls

My Bud Fox-like meeting with Sam Belzberg
Members Public

Read Part 1 here. A friend who was acquainted with Belzberg gave me a preview of the meeting. He said: “try to keep your pants on the whole time”, meaning that Sam was a charmer. We met in a small conference room along with Travis Dowle, a portfolio manager working

Moguls

Sam Belzberg - That time I met Brent Belzberg's uncle
Members Public

In its short life, this newsletter has already amassed an audience bigger than Obama's inauguration. I feel the pressure to be relevant, so today I am going to write about a guy who peaked in the 80s and is no longer alive. You are going to enjoy it and fax

Moguls

Move over Mike Katchen, Tye Bousada founded three separate billion dollar investment firms
Members Public

I have been telling myself I need to improve my titles, so I am proud of the one above, because it combines three clichés of business journalism: rivalry, whiz kids and billions. At OPM Wire, everything is a pissing contest, so consider the following my competitive response to Report on

Money Managers

Is Dave Nugent still Chief Investment Officer of Wealthsimple?
Members Public

Let me start by telling you about a pivotal event that happened at the foundation of Wealthsimple.  In Canada, in order to have a license to manage discretionary money, you generally need two things: real experience in the field and an educational certification (either the CFA or a more local,

Fintech

Wealthsimple's global ambitions are - to date - a flop...we have the numbers
Members Public

In 2018, Wealthsimple founder Michael Katchen penned an essay saying "Canada is bad at thinking big". Wealthsimple launched in the US in January 2017.  By then, US robo-advisors had been around since 2008.  So it was pretty bold of Wealthsimple to try to break into that competitive market. Let's check

Fintech