James Justin Palmisciano of Gracie Asset Management
A March 2009 ISDA Credit Derivates Determinations Committees and Auction Settlement CDS Protocol Adherence letter states that P&S Credit Management LP acts as investment manager to Gracie Credit Opportunities Fund LP, Gracie International Credit Opportunities Fund Ltd., and Gracie Credit Opportunities Master Fund LP.
James Palmisciano donated $2,400 in March 2009 to (Kirsten) Gillibrand for Senate.
A March 2008 article about troubles at CIT Group Inc. quotes James Palmisciano, CIO at Gracie Credit Opportunities Fund, as saying, “They have been survivors, and if history is any guide, they can get through this.” He also said that he was considering buying CIT shares.
A June 2006 article (about SemiCentral.com providing Original Equipment Manufacturers and Contract Manufacturers a direct marketplace to buy and sell surplus stock anonymously and at market-level pricing) quotes James Palmisciano, co-head and portfolio manager of Gracie Credit Opportunities Fund, as saying, “This concept works particularly well for an industry that has only a fragmented distribution channel to handle the massive amounts of excess inventory that develop from time to time.”
A June 2005 article quotes James Palmisciano, co-head of Gracie Capital’s Credit Opportunities Fund, as saying, “What we do differently than most credit funds is that we almost always hedge our credit positions against movements in interest rates and de-emphasize carry when thinking about returns. We recognize that carry trades can be akin to picking up change on the railroad tracks. Our emphasis is on capital appreciation: whether spreads go tighter or wider, whether curves flatten or steepen, whether stocks are cheap or expensive relative to credit and so on. We even tend to focus on credit spreads for many positions in distressed debt, which sounds like heresy to some. This gives us the competitive advantage to value the credit world on a consistent, purely spreads basis, and enables us to take advantage of valuation gaps that exist across rigid segments within credit markets that are typically divided by ratings, instruments and regions.”
James Palmisciano and his wife “Missy” were listed as regional co-chairs for a Picture House Gala (Westchester County, NY; Dec. 2006). The couple also served on the Art Matters Host Committee for a June 2009 Pelham Art Center event (Westchester County). James Palmisciano and his wife Michelle donated between $1,000 – $3,499 to the Westchester Children’s Museum (NY). The couple is listed as sophomore supporters of the Pelham Education Foundation (Westchester County).
James Palmisciano, Director at Deutsche Bank AG New York, served as a panelist at the seminar “Researchers’ Perspectives On Credit Derivatives/Synthetic Securitization” at the 2nd Annual Issuers’ and Investors’ Forum On Credit Derivatives/Synthetic Securitization (US) held in New York City in November 2002.
A September 2001 article states that James Palmisciano was recently appointed to the newly created position of credit derivatives strategist at the Deutsche Bank AG investment bank and securities arm. His new role would reportedly focus primarily on the default swap market.