Irving H. Picard v. Saul B. Katz et al
Filing
170
DECLARATION of Regina Griffin Completed With Exhibits 31 to 45 in Support re: 162 FIFTH MOTION in Limine To Deem Statements By Sterling Stamos Employees In The Course Of And In Connection With Their Employment By Sterling Stamos As Admissions of The Sterling Defendants.. Document filed by Irving H. Picard. (Attachments: # 1 Exhibit 31, # 2 Exhibit 32, # 3 Exhibit 33, # 4 Exhibit 34, # 5 Exhibit 35, # 6 Exhibit 36, # 7 Exhibit 37, # 8 Exhibit 38, # 9 Exhibit 39, # 10 Exhibit 40, # 11 Exhibit 41, # 12 Exhibit 42, # 13 Exhibit 43, # 14 Exhibit 44, # 15 Exhibit 45)(Sheehan, David)
Exhibit 35
From:
Kevin Okimoto
To:
Rick Stockton
Subject:
RE: Draft talking pta.
Date:
08/22/2005 19:35:54 )OMT-05:00)
Thanks Rick.
Let s discuss tomorrow morning.
Kevin Okimoto
From: Rick Stockton
Sent: Monday, August 22, 2005 10:41 AM
TO:
Kevin Okirnoto
Subject: Draft talking pts.
Kevin,
Let s talk about this when you have a chance, before we open it up to the team.
I think that we should break down our thought processes into categories with regard to
potential incoming calls as follows:
Media
Our firm policy is that I can t speak with the press directly, although I would like to
have an individual get back to you right away.
Get name and number of the press person
and have Oick call them directly.
Investors - Reactive
Those independently invested in the Fund and cannot get their funds back.
We know that Gayou has closed their Fund and are in the process of sortinq out the
redemptions and allocations to their investors. We are not aware of the timing of
distributions, or the process that is being followed to distribute.
Those asking about the status of our investment in the Fund.
E xhjb j t
Wèt:
Date:
.
1 2__..
Leslie Rockwood CSR RPR
SSMT02407171
SSMSA0000081 8
SSMSAC00008I 8
We had an allocation to Bayou Superfund, LIC and Bayou Offshore Fund A, Ltd. and submitted
a full redemption letter in February. Under the terms of the Fund, we were due to receive
90% of our redemption proceeds on April 1, 2005, which we received in a timely manner, arid
the additional 10% is due following the annual audit which is not until the end of the
year.
Those wanting a rationale of our exit strategy.
We submitted our full redemption letter in February for a few reasons, highlighted by what
we viewed as style drift and forecasted AUN growth. Our due diligence of the funds in
which we invest is ongoing and does not subside once the decision to invest is made.
There were a couple of indicators that, made us think that Bayou was moving away from what
we hod initially invested in, regardless of their positive performance. The Fund s stated
mission to venture into commodities and futures was a cause for concern to us, because the
strength of the fund was equities, equity indices and derivatives. We were not interested
in experiencing the increased volatility that accompanios commodity futures trading.
Secondly, in a stated effort to move from $500 MM to $1 Billion in his new fund, this
would be twice as much capital as he currently invests over an extremely short time
period, which was also a cause for concern.
Proactive
Our rigorous approach to staying on top of our managers to best understand their
evolving focus and execution strategies led us to make a decision to redeem out of this
We are extremely comfortable with our approach to understanding our managers and
f und.
when we see style drift or practices that deviate from our reason for investing in a
manager, we will redeem.
F0F allocation mitigates risk.
(additional point to introduce should investors
ask about our thoughts on the nature of most managers and the difficulty to track each
individually etc.)
Rick Stockton
RStockton@SterlingStamos . com
http: //www. sterlinystarnos . corn
.zhttp: ,' /www. sterlingstamos . Corn!>
575 Fifth
Hew York,
1 212 485
F 212 485
Avenue
NY 10017
4370
4371
2400 Sand Hill Road
Menlo Park, CA 94025
SSMTO24O71 72
SSMSA0000081 9
SSMSAC00008I 9
2 650 233 0263
F 650 233 0202
This message is intended only for the use of the Addressee and may contain information
that is PRIVILEGED and CONFIDENTIAL. If you are not the intended recipient, please
telephone or email the sender and delete this message and any attachment from your system.
If you are not the intended recipient, you must not copy this message or attachment or
disclose the contents Lo any other person.
Attachments:
irnageOol.gif
SSMTO24O71 73
SSMSA0000082O
SSMSAC000082O
Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia.
Why Is My Information Online?