Posts tagged ‘hedge funds’

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Ray Dirks, Whistleblower

Back in the news after 42 years

On March 6, 1973, Ray Dirks got an unexpected phone call in the morning from an ex-employee of a West Coast life insurance company he was following called Equity Funding Corporation of America. 

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Back to Basics for Insider Trading

Who cares whether the original tipper got a quid pro quo?

Todd Newman and Anthony Chiasson –hedge fund portfolio managers whose 2008 convictions and prison sentences1 for insider trading were just vacated by the Second Circuit Court in New York — can thank a Wall Street insurance analyst by the name of Raymond Dirks for their new-found innocence and freedom.

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Hedge Funds in the Doldrums

The deflating effects of underperformance and overregulation

Warren Buffet’s wager with Protégé Partners epitomizes the gloom hovering over the hedge fund industry.  In 2008, the Oracle of Omaha bet the New York-based fund-of-funds $1 million that index funds would outperform hedge funds over the next 10 years. 

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Rebalancing Bonuses, for Goodness Sake

Now where are the ‘animal spirits’ going to go?

Deutsche Bank just took its most daring step yet to reprogram its workforce.  It adopted a policy denying the bank’s top-performing traders plum promotions and fat bonuses if they’re deemed to be “disruptive” or non-team players.  

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Targeting Private Equity

Are 2 & 20 just not enough?

Are private equity types any different from hedge funders?

The SEC apparently doesn’t think so and, after excoriating the latter for flagrant securities law violations, the regulators are now training their sights on the former.

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Struggle for the Soul of Wall Street

Not just “can we do this”, but “should we?”

Sir Hector Sants’ sudden leave of absence from Barclays Bank last month epitomizes the intense ethical struggle now engulfing the financial industry.

Sants, 57, was brought in earlier this year by CEO Antony Jenkins to help reform a bank that has featured in virtually every financial scandal of the past several years. 

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Hedgefunders in the Hoosegow

The do’s and don’t’s of prison life

Absolute Return magazine just published an interview with a Christian minister by the name of Jeff Grant who runs a not-for-profit program called the Progressive Prison Project in Greenwich, Connecticut.

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Short-Swing Profiteers

Billionaire hedge funders play poker over an activist target

At an investor conference last December, hedge fund activist Bill Ackman spent 3½ hours explaining why Herbalife, the 33-year-old direct marketer of nutritional supplements, was nothing more than a Ponzi scheme whose stock was worthless.