UPDATE: David Cohen is NOT the son of famous Dr Seymour Cohen who taught at Penn University. He made this story up for the sake of getting a job with Gary Michelson because Gary is from there. David Cohen's father is named Norman. He was a sales person who sold pharmaceutical manufacturing products. David's mother is Joan Kellner Cohen. She was an elementary teacher. The real Dr Seymour Cohen was born in 1917 and married to another woman.
In the link below David Cohen states his dad was Dr Seymour Cohen who taught at Penn University. It also says his brother Jeffrey has an engineer degree 1990. The only Dr Seymour Cohen I see that taught medical school at Penn University was born in 1917. That person was not married to David's mother Joan Kellner Cohen. His brother Jeffrey did undergrad at Penn. He went to law school at UCLA and was admitted to the bar in 1988. Is this just a bad writer who got the facts wrong?
The article also makes it sound like he owns Karlin Asset Mgmt which is just a private holding company for Gary's stuff. I'm starting to think that David realizes he'll probably be booted soon and is trying to build his reputation. That's why he made a website for Gary's private fund. That's also why he did all those crazy interviews telling the world he manages Gary's money and made him a ton of dough in teak farms in Costa Rica. David knows Gary does not stay friends with people long.
Thanks to Gary Michelson's money David was able to buy a very nice house in 2007. He was hired in mid 2005. That 1463 Bienveneda, 90272, $3.8M, 8000 sf on a 18,000 sf lot. It's bigger than Gary's house. Before that he didn't own a house. He only rented one house and small condos before that. He was basically broke before he struck it rich by landing a big fish. This big fish is now putting David's kids through college. David Cohen has three kids at Penn at $30K/yr each. This does not include room, board or books. Just how much is David Cohen taking from Gary Michelson to be able to afford this?
I just realized that David Cohen is a shitty, shitty real estate investor. He bought this house at the very peak right before the crash. He paid $3.8M and got a $3M loan with JP Morgan Chase, an 80% loan to value ratio on a large house. That is a crazy loan. You generally have to put a bigger down for a house like this. He might have done a no doc loan or something. His payment is about $16,000/mo. Generally your mortgage can't go over 28% of your gross income or 30% of your net income. He's making $60,000/mo or $720,000 per year from Gary! Before Gary he couldn't even afford to own a home. From rags to riches by spinning a nice yarn to an easily duped man. Based on the article David knows how to talk the talk. We also know he's a full on liar. He stated the teak farms were a fantastic investment in the 2011 article. The teak farm market crashed in 2009, 2010 as per Andres Marten. If David Cohen were a good investment manager, adviser, he would have told Gary to sell before the crash, don't put any more money into the properties.
David Cohen just put the house in a trust. He probably realizes that one day Gary will come for him. Here's the MLS for the house. The pics are from the most recent listing before David Cohen bought it. He has a better home than Gary Michelson.
|1463 Bienveneda, 90272 David Cohen, Laurie Cohen, Gary Michelson|
|David Cohen, Laurie Cohen, Gary Michelson|
|David Cohen, Laurie Cohen, Gary Michelson|
|David Cohen, Laurie Cohen, Gary Michelson|
I now see one purchase in 1996 for $760,000 for a 16754 Calle Arbolada and sale in 2001 for $1,155,000. Previous to this he rented.
In the article David Cohen said he regretted not shorting the derivitive market when the real estate market crashed. If he thought real estate would crash, why in the world did he buy this huge home at the peak? Everyone knew it was going to crash. I warned people a year before the crash not to buy. Sell, don't buy. David Cohen is supposed to be a super investor yet he made the absolute worst and most obvious real estate decision. On top of this David Cohen worked at New Century which did subprime loans during 2006 and 2007. He knew the market would tank. I do see a more recent loan on his home for $2M. Maybe he did a cram down with the bank. I would find it hard to believe it's a second.
David Cohen has a BS in engineering and supposedly a master's degree in finance. Looks like he wanted to get his phd but didn't finish as per his resume. Perhaps the writer got the degrees mixed up.
Seems David Cohen started as an investment banker with Lazard Frères. They were notorious for ripping off wealthy people. There are a few books written about this subject. Their business started to unravel when they stupidly became a public company and had to show their books.
Here David is spinning everything to make him sound like the best investor on the planet. On page two he brags about how well he's done in teak.
"We also have a meaningful timber investment in Central American hardwoods. This includes building one of the world's largest teak plantations, which will be an excellent investment from a rate of return perspective and is tax efficient. As important is the fact that we are doing our part to reverse climate change with the replanting of 40 square miles of grazing land that was formerly rainforest with six million new trees."
Here he hints that he'll take your money and invest it.
"Prince: Would you consider taking outside money?
Cohen: Well, we are really focused on our own knitting for the moment, but we have gotten more than a few offers from the family office community to co-invest with us, which is flattering. Scale cuts both ways. Girth can give us access to certain opportunities, but it can also get in the way and prevent us from earning really high returns in niche categories. I would describe our position as "interested as a future possibility." <~~future possibility like when he gets canned.
David likes to call "his" company KAM so people won't realize it's Gary Karlin Michelson.
David convinced Gary to invest $100M in his buddy's hedge fund. The people running it ran Countrywide which went belly up from doing risky no doc loans. In 2013 they are investing in subprime uninsecured residential mortgages. This is some risky shit. Maybe karma will come sooner than expected when David Cohen bleeds Gary dry. If Gary doesn't have money, he won't have any friends at all. The only people who want to have anything to do with him have their hand out. His dogs are his only friends mainly because they don't know how to unlock the gate and run away.
David Cohen presenting at the infamous Global Investment Conference. This is where people pretend to be experts to pitch shit investments and scams to people. I covered this when I covered stock fraud in the 1990's to mid 2005. If someone is trying to tell you how to make money in stocks, real estate...., they obviously don't know how to do that and can't teach you anything. They are there to rip you off. That is their real business.
They invested in a building which is 100% leased to ONE company, extremely risky! David said Gary will invest one billion in this area. How can he do that? He's currently worth max $1.5B and most of it is already invested. He'd have to sell things to buy. David is spending Gary's money like crazy in super risky deals. David is the idiot who didn't tell Gary to sell the Costa Rica land before the crash. David is the idiot who bought a $3.4M house a few months before the beginning of the great recession. David also hired newbie investment people besides Dean Florez who is too unethical to ever get a job anywhere else. Gary has hired some losers. Karma! No sane professional person would want to work for Gary. Only cons like David Cohen, Dean Florez. You don't see Buffett or Gates reaching out to Gary.
More conferences=signs of a scammer
David Cohen makes money giving investment seminars. His only listed claim to fame is Karlin Asset Mgmt. I hate speakers like this. They charge $325 to a bunch of people. If David knew how to make money he wouldn't work or speak. He'd just invest.
I can't seem to verify that David Cohen went to Cambridge University in England or Sydney University in Australia. His birth date also seems a little odd. And his life story seems to change.
David Cohen was part of the USC groundbreaking function. He's in the pic. I would bet that USC gave him a finder's fee for getting Gary to give them money. It's common practice to pay commissions on big donations. How else is he affording all this expensive European travel, ski trips with all his kids and college educations for his kids not to mentioning his huge mortgage.
I'm trying to verify his resume but can't. The only mention of the name David Cohen and the companies he said he's worked with are on David Cohen's own web pages. I can verify his sister and brother's education and jobs but not David's. Because of his super bad call on the real estate market I'm wondering what he actually did for a living before he met Mr money bags Gary Michelson. It's also odd that David's brother, mother and sister are not FB friends with him. It's like he's the black sheep of the family. In fact I remember a person saying he went on a six month ski trip around the world. I later found out he was in jail for six months. Another time someone said they went to graduate school in Switzerland for three years. Turns out they were in prison for three years. Such story tellers. I'm getting the feeling David Cohen is a fraud. He was in charge of the teak farms from 2005 to the present. He's supposed to be a super investment wiz. Why didn't he sell at the peak? He is the one that cost Gary $50M in losses from the peak price along with Andres Marten who also should have known. I will bet David has been embezzling money or losing money for Gary. That article was in 2011 after the teak market crash. How in the world can he say it was a great investment when Gary claims it went from $80M to about $30M in value? David Cohen sounds like a liar. I bet he tells Gary that Karlin Asset Mgmt is doing "GREAT!" when it's actually losing money. I bet Cohen is taking commissions all over the place even though he's supposed to be an employee. I would go further and bet that Gary offered him bonus incentives if he got a certain return on investments. I bet Cohen then fabricated great returns to get the bonus.
|David A Cohen, Jeffrey Hale Cohen, Joan Kellner, Normal I Cohen, family tree, 20 million minds, investment banker, liar|
Quellos CEO indicted for selling bogus tax shelters netting them $50M in fees. David states he was there from 2001 to 2003. This is when they were offering the fake tax shelters. They used off shore accounts and international stocks to make it appear that the people lost a lot of money on stocks when they didn't. The CEO and lawyer were sent to prison. They helped super wealthy people commit tax fraud. David claims to have been a partner.
He also formed Palisades Asset management as a corporation in 12/2007. It is active. Address is David's home.
I do see that he ran a failed investment company called Malibu Capital Partners that went under. Corporation was cancelled in 2009. Looks like David tried to go out on his own and failed.
"Malibu Capital Partners - Partners
www.malibucap.com, 16 Mar 2006 [cached]
David A. Cohendavid@malibucap.com
David A. Cohen has over 17 years experience in principal investing, project finance, corporate finance and capital markets.He was a partner in the Quellos Group, a large global fund of funds with assets of more than $8 Billion.For most of the 1990's, Mr. Cohen was the Chief Investment Officer for the Murdock organization, which is comprised of 25 operating companies across a variety of industries with over $7 Billion of revenues.He was responsible for the organization's investment and strategy and completed over 40 transactions representing value of over $3.5 Billion.This included oversight for several large real estate businesses where he directed acquisitions, expanded existing facilities and restructured the financing and development activities.He served simultaneously as the #3 executive officer at Murdock's largest investment, Dole/Castle & Cooke - the world's largest fruit and vegetable company with 50,000 employees in over 80 countries.He also has experience running a distressed value oriented hedge fund and working as a capital markets professional on Wall Street at Lazard Freres.Mr. Cohen holds a B.S. in engineering and applied sciences (summa cum laude) from Boston University and a Master's Degree in Finance (honors, including all coursework for the PhD degree) from Cambridge University."
David owns the domain name.
Registrant Name: David Cohen
Registrant Street: 1463 bienveneda ave
Registrant City: pacific palisades
Registrant State/Province: California
Registrant Postal Code: 90272
Registrant Country: United States
Registrant Phone: (310) 806-9700
Registrant Phone Ext:
Registrant Fax Ext:
Registrant Email: firstname.lastname@example.org
While David Cohen was working for Gary he was hired as a board member for New Century Financial Corporation 2006. That company was accused of fraud by the SEC during the exact time David Cohen was there. They went bankrupt in 2007. They ripped off investors by saying they were the largest subprime lender and were making a ton of money. They were not the largest. They were losing money. David A Cohen has quite the history.
From New Century.
"Mr. David A Cohen has over 18 years of experience in principal investing, private equity, corporate finance and capital markets. He has been an active private investor in operating companies and public securities. Mr. Cohen has been the President of GKM since June 2005. From May 2003 to June 2005, Mr. Cohen was a private equity investor with Malibu Capital Partners, a private equity investment firm. From September 2001 to May 2003, he was a principal of Quellos Group, a global alternative investment firm with assets of more than $16 billion. None of GKM, Malibu Capital Partners or Quellos Group is a parent, subsidiary or affiliate of New Century. For most of the 1990’s, Mr. Cohen held a variety of senior executive positions with Pacific Holdings, a privately held enterprise with 25 operating companies across a variety of industries. He was responsible for Pacific Holdings’ public and private investments strategy. Mr. Cohen served simultaneously as Senior Vice President at Pacific Holdings’ largest investment, Dole Food Company/Castle & Cooke, a fruit and vegetable producer and marketer. Mr. Cohen started his career as a capital markets professional at Lazard Freres in New York. He holds a B.S. in engineering and applied sciences (summa cum laude) from Boston University, attended graduate school at Sydney University (Australia) as a Rotary Foundation Scholar, and holds a Master’s Degree in Finance (honors) from Cambridge University (England)."
I just found him at Dole. Date, age matches, so does photo. This was filed 1998. I think he left in 1997.
David A. Cohen............................ (34) Senior Vice President-Acquisitions and Investments of the
Company since October 1996. Director of Mergers and
Acquisitions of the Company from March 1991 to December
1996. Director of Investments of Pacific Holding Company (a
sole proprietorship of Mr. Murdock) since March 1991.
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