EP as we called her was clearly an industry insider and had a razor sharp wit. Dealbreaker was probably the most important site to be following during the credit crisis; it acted as a running tally of all the lies, denials, turnabouts and scuttlebutting as the largest financial institutions in the world found themselves backing into bankruptcy one falsehood at a time.
But time marched on and we eventually lost EP to the wilderness of Zero Hedge. And when that got old, she seemed to have quietly scaled back the blogging, sporadically posting at her home base, Finem Respice , as Equity Private once again. Two years have passed since she left the Marla character. As evidence of her talent as a blogger, it took Dealbreaker almost this entire time to find another counterpart who could even hold a candle to Bess which I believe they now have in Matt Levine.
Bloggers are common in finance — good bloggers are incredibly rare. All markets were corrupt. The darker his vision the more popular he became. Former hedge-fund analyst Ivandjiiski he blogs as Tyler Durden—the New York Post tentatively outed him last month and Hagan does so definitively in his article had figured out how to tap into that trading-floor longing for order in the chaos.
Most good investigative reporters are conspiracy theorists, by the way. Ivandjiiski singlehandedly turned high-frequency trading into a big political issue. Brad Pitt portrays Tyler Durden as hell-bent on bringing down the corrupt system of the global elite-an attitude often reflected in Zero Hedge's content. With that in mind, the website has argued that "pseudonymous speech" is necessary amid an atmosphere of stifled public dissent-hence the "Tyler Durden" alias was born.
In earlier years, Durden was joined by "Marla Singer," another Fight Club character, as one of the site's most prominent authors. Despite holding itself out as a town crier for market angst, transcripts from Zero Hedge internal chat sessions provided by Lokey reveal a focus on Web traffic by the Durdens.
Headlines are debated and a relentless publishing schedule maintained to keep readers sated. Lokey said the emphasis on profit-and what he considered political bias at the site-motivated him to quit.
He pointed to the wealth of the Durdens as a factor. Ivandjiiski has a multimillion-dollar mansion in New Jersey, and Backshall lives in a plush San Francisco suburb - not exactly reflections of Pitt's anticapitalist icon.
And you shouldn't support it," Lokey wrote in an e-mail. Lokey adds: "Durden lives in a castle. If you've seen Fight Club , you know how ironic that is.
His salary helped pay the rent on a "very nice" condominium on South Carolina's Hilton Head Island, he said. Despite the compensation, he contends that he left because he disagreed with the site's editorial vision.
But Zero Hedge ceased to serve that public service years ago," Lokey wrote. Zero Hedge founder Ivandjiiski defended the site, adding that it's designed to be a for-profit entity. Any website's focus on traffic and revenue certainly isn't unusual. But Lokey said he was irked by what he saw as the hypocrisy of Zero Hedge and how it runs counter to its antiestablishment image.
In the chat transcripts, Ivandjiiski refers to America's "silent majority" as "beastly," while Backshall acknowledges life in the U.
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