Neil Barsky
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Neil Barsky | |
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Born | philanthropist |
Notable work | The Marshall Project Koch |
Neil Barsky is an American
Early life and education
Barsky was born in the
He is Jewish and attributes his support for social justice to his Jewish schooling and upbringing.[2]
Barsky pursued his undergraduate studies at
Career
Hedge fund manager
Barsky started work as an analyst for Morgan Stanley in 1993, working on commercial real estate and the gaming industry. Within a year, he got listed in the All-Star Analysts list of Institutional Investor.[1]
In 1998, Barsky and fellow Morgan Stanley alumnus Scott M. Sipprelle started a hedge fund called Midtown Research.[1] Barsky stayed with the fund until 2002. In November 2007, a few months before the global stock market collapse, Sipprelle closed down the fund. Sipprelle would subsequently become a venture capitalist and would also be the Republican candidate for the House of Representatives in 2010.
In 2002, Barsky left Midtown Research and opened his own hedge fund, Alson Capital Partners, named after his children, Alexandra and Davidson.[1][3] The fund made successful investments in Sears Holdings and shorted newspaper and furniture companies. It also exited the housing sector in early 2006 before the bursting of the housing bubble, although Barsky incorrectly believed that there was no bubble.[1][3][4] After correctly predicting the popularity of the Atkins diet, the fund shorted Panera Bread and Krispy Kreme.[1]
At its peak, the fund would have $3.5 billion in assets under management.[1] In 2008, as a result of the global financial crisis, Alson lost 24% of its assets, down to $1.5 billion, primarily due to its large holdings in energy and utility stocks, all of which fell more than 50% after producing big gains in previous years.[1][3] At the end of May 2009, the fund shut down, returning $800 million to investors.[3][5] Alson's former chief operating officer said that Barsky made sure that all employees had equity and got generous severance packages, so that the closure did not cause any of their lives to be ruined.[1]
Over his entire career as an investor (August 1998 to March 2009) Barsky made an average 12.1% a year.[1]
Journalist
Barsky's interest in journalism was sparked by a high school project on the effect of
Barsky has been skeptical of journalism's almost-exclusive reliance on advertising for revenue, a skepticism that also informed his decision to short newspaper companies while operating his hedge fund.
Barsky's interest in new models for journalism would eventually lead him to co-found
Journalistic coverage of Donald Trump
Barsky has reported extensively on the business career of 45th President Donald Trump since 1985, mainly for The Wall Street Journal and The Daily News.[11] He has interviewed Trump dozens of times over the course of his journalistic coverage.[11] In 1991, Barsky won the Gerald Loeb Award for Deadline and/or Beat Writing for his "Coverage of the Collapse of Donald Trump's Financial Empire" while at The Wall Street Journal.[12]
In August 2016, during Trump's presidential campaign, Barsky wrote a piece for The New York Times about his experience covering Trump as a businessman.[11] He recounted when Trump was "on the brink of financial ruin" and noted that he was a "walking disaster as a businessman for much of his life," but also stated that he was "a skilled negotiator with an almost supernatural ability to pinpoint and attack his adversaries’ vulnerabilities, as several of his Republican primary opponents discovered."[11]
Trump threatened to sue Barsky multiple times over the course of his journalistic coverage, though he never followed through.[11] Trump wrote of Barsky in his 1997 book, The Art of the Comeback, "Of all the writers who have written about me, probably none has been more vicious than Neil Barsky of the Wall Street Journal."[11][13]
Journalistic coverage of Rikers Island
Following numerous revelations about stark conditions in the New York City jail complex, Barsky wrote an opinion piece for the New York Times titled "Shut Down Rikers Island" (July 19, 2015).[14] In the piece, Barsky argued that
"the only way to transform Rikers is to destroy it; it needs to be permanently closed. The buildings are crumbling. The guard culture of prisoner abuse and the gang culture of violence are ingrained. The complex is New York’s Guantánamo Bay: a secluded island, beyond the gaze of watchdogs, where the Constitution is no guide. It is a place that has outlived its usefulness."[14]
In this piece, Barsky later made the case that "the closing of the country’s most notorious jail would serve as a powerful message" for national criminal justice reform.[14]
In March 2017, de Blasio announced his support for plans to close the Rikers Island complex through reducing the number of inmates from 10,000 to 5,000 and establishing a system of smaller jails in all five boroughs. These plans were released by an independent commission studying Rikers Island, created by City Council speaker Melissa Mark-Viverito.[15][16] Previously, in February 2016, de Blasio had called the idea of shutting down Rikers Island a "noble concept," but described it as unrealistic due to the cost.[17]
Filmmaker
Barsky was inspired to work on documentaries after observing the success of Waiting for Superman and Gasland in sparking discussion about their respective underlying issues (charter schools and fracking).[1] He produced and directed Koch, a documentary released in 2012 (and theatrically released February 2013) about the role that former New York City Mayor Ed Koch played in transforming the city in the 1980s.[18][19]
Barsky was co-executive producer and director of the documentary Knuckleball!, the short documentary Witnesses NYC, and the Koch episode in the TV series documentary POV.[20]
The Marshall Project
The Marshall Project is a nonprofit journalistic organization started by Barsky that aims to cover issues related to criminal justice in the United States.[6][10]
In his byline for an op-ed for the
References
- ^ a b c d e f g h i j k l m n o p q Benner, Katie (September 5, 2013). "Neil Barsky: Reporter, hedge fund manager, movie director". Fortune. Retrieved October 13, 2015.
- ^ Ghert-Zand, Renee (11 February 2014). "'Koch' director tackles US criminal justice system". The Times of Israel. The Times of Israel. Retrieved 11 May 2017.
- ^ Wall Street Journal. Retrieved October 15, 2015.
- Wall Street Journal. Retrieved July 15, 2016.
- ^ New York Times. Retrieved October 15, 2015.
- ^ a b "Mission Statement". The Marshall Project. Retrieved May 8, 2015.
- ^ a b Ellis, Justin (February 10, 2014). "Bill Keller, The Marshall Project, and making single-focus nonprofit news sites work. The former New York Times executive editor explains why he's jumping to a nonprofit news organization focused on criminal justice issues". Nieman Lab. Retrieved May 7, 2015.
- ^ Huffington Post. Retrieved May 7, 2015.
- ^ New York Times. November 16, 2014. Retrieved May 7, 2015.
- ^ a b Doctor, Ken (February 12, 2015). "Newsonomics: Bill Keller's Marshall Project finds its legs covering criminal justice. The Marshall Project is trying to get beyond the narrow newsroom focus on "cops and courts" and tackle the bigger systemic issues". Newsonomics. Retrieved May 7, 2015.
- ^ ISSN 0362-4331. Retrieved 2017-04-27.
- ^ Thomson, Susan (June 1991). "Loeb Winners Announced" (PDF). The Business Journalist. Vol. 30, no. 1. Society for Advancing Business Editing and Writing. p. 3. Retrieved February 2, 2019.
- ISBN 9780812929645.
- ^ a b c Barsky, Neil (17 July 2015). "Opinion | Shut Down Rikers Island". The New York Times. Retrieved 2017-05-02.
- ISSN 0362-4331. Retrieved 2017-05-02.
- ISSN 0362-4331. Retrieved 2017-05-02.
- ISSN 0362-4331. Retrieved 2017-05-02.
- ^ Jagernauth, Kevin (28 August 2013). "DVD Review: Neil Barsky's Documentary On New York City Mayor Ed 'Koch'".
- ^ Scott, A.O. (31 January 2013). "Hizzoner on Screen: Regrets? That's Not His Style". The New York Times.
- Internet Movie Database.
- New York Times. Retrieved May 8, 2015.
- New York Times. Retrieved May 8, 2015.
- Capital New York. October 23, 2014. Archived from the originalon March 4, 2016. Retrieved May 7, 2015.