Elliott Management Corp, Follows Carl Icahn To Florida -- Says Sayonara To High-Tax State New Jersey -- October 21, 2020

From ZeroHedge:

Ever since David Tepper revealed that he was moving back to New Jersey after briefly seeking the greener pastures (and substantially lower tax rates) of the Sunshine State (Phil Murphy said he received a personal phone call from Tepper, informing him about the additional $100 million+ in tax revenue headed to NJ), smug liberals on CNBC have been smirking about how wealthy financiers want to be where the talent is/simply can't tolerate not having the opportunity to see three Andrew Llyod Weber musicals a week (though it's not like anybody's going to see a Broadway show right now).

While Manhattan remains the undisputed hedge fund capital, Florida, particularly South Florida and Miami, has seen a steady influx of capital and people over the past five years. Last fall, Carl Icahn announced plans to move his firm's headquarters to Florida, offering employees generous severance packages if they opted not to follow the firm to Florida.

Now, Bloomberg reports that Elliott Management Corp., the investment fund run by Paul Singer, is taking its $41 billion AUM and moving it to West Palm Beach, a community best known to Americans as the former hunting grounds of Jeffrey Epstein. 

And more:

As Bloomberg points out, Elliott isn't alone in expanding its presence in South Florida. Ken Griffin’s Citadel plans to open an office in Miami next year, and $8 billion Balyasny Asset Management, another Chicago-based firm, is also opening office space in Florida, and will have space for 30 employees by the end of the year.

It appears most of Elliott's employees are staying put, which suggests Paul Singer is simply trying to side-step the burgeoning trend of liberal states dabbling with 'wealth tax' plans to plug the gaping holes in their budget caused by COVID-19. For example, Griffin is leading a campaign against a wealth tax in Illinois. Jamie Dimon recently bashed a proposed wealth tax plan in NY being pushed by - who else? - AOC.

Just imagine: a one-time bartender, now first term US representative, living rent-free in Jamie Dimon's head. LOL.

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Preparing For Baking With Sophia

Yesterday Sophia and I made brownies but she took them home with her and left me none.

So, today I plan to bake a cake with Sophia. 

Everything is ready. All she has to do is crack the eggs, pour everything together, and then mix.