Reuters’s Felix Salmon Calls Scaramucci a Popinjay

Sep 9, 2011
J. Webster
Comments Off on Reuters’s Felix Salmon Calls Scaramucci a Popinjay

No, Felix Salmon didn’t say that did he? He didn’t just call Scaramucci a popinjay did he? How could he go that far? One doesn’t usually stoop to that level. This is too much.

No, really, what the hell is a popinjay anyway? Well, it turns out it’s not all that bad of a word, but a sly dig nonetheless, and a word that just might ruffle the feathers of Scaramucci. We didn’t know what the word meant either, but we looked it up and have the definition right here for you.

Popinjay: a person given to vain, pretentious displays and empty chatter

I’m guessing Scaramucci prefers Jon Stewart calling him one of the Jersey Shore cast members. But that wasn’t all Felix Salmon said about Mr. Scaramucci. He said, essentially, in his blog post that Scaramucci was almost duping people into buying his fund of hedge funds and holding on to their money when they try to take it out. Wow. Serious.

Scaramucci is a fund-of-funds manager, posting returns even he admits are lackluster: he more or less tracks the S&P 500, while making big, risky bets (a third of his assets are in MBS), investing in leveraged hedge funds, and reserving the right not to redeem his clients’ money upon request. Which means that he only has two ways to make money: either find stupid people to give him their money, or else shower himself with so many conspicuous indicia of success that people just want to buy into his perceived success.

Scaramucci responded back to Salmon’s blog post with this message on Twitter:

Still waiting to see what Salmon has to say back…here it is now:

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