He is founder of Tontine Asset Management and a former billionaire before his funds lost much of their value and closed
Father worked for Proctor & Gamble. Gendell began work in Smith Barney's financal department. Started hedge fund Tontine Partners in 1997. Well timed bets on steel, housing have paid off; returned more than 100% in both 2003 and 2005.
He is founder of Tontine Asset Management and a former billionaire before his funds lost much of their value and closed
Father worked for Proctor & Gamble. Gendell began work in Smith Barney's financal department. Started hedge fund Tontine Partners in 1997. Well timed bets on steel, housing have paid off; returned more than 100% in both 2003 and 2005.