SAC Portfolio Manager Arrested in Insider-Trading Investigation
SAC Capital Portfolio Manager Michael Steinberg was arrested Friday in connection with a long-running insider-trading investigation, according to the FBI.
hedge fund
Hedge Fund Agrees to Pay $600M to Settle Insider-Trading Charges
Two affiliates of SAC Capital Advisors, the hedge fund run by billionaire Steven Cohen, will pay more than $614 million to settle insider trading settlement charges.
2 State Pension Funds Want More JC Penney Details from Ackman
Two institutional investors with William Ackman's $12 billion hedge fund plan to reach out to the manager to get more information about the firm's big bet on ailing retailer JC Penney, whose stock has dropped 21 percent this year.
Repo Man Goes to Ghana to Tow Away Argentinean Navy's Flagship
Borrowers beware. If you miss a payment on your car loan, don't go parking it in Ghana thinking it's safe: The arm of the repo man is really long. That was news to the Argentinean Navy, which got a shock this month when authorities in Ghana seized its flagship, the ARA Libertad.
Guilty! Ex-Hedge Fund Manager Convicted
After more than a week of deliberations, a jury has convicted former billionaire Wall Street hedge fund manager Raj Rajaratnam on 14 counts of securities fraud. Federal authorities had called the insider trading case the biggest ever involving a hedge fund.
The Temptation of Insider Trading: Why Top Professionals Might Slip
The Securities and Exchange Commission's insider-trading charges against Rajat Gupta, former head of consulting firm McKinsey & Co., comes as a shock to many. The news comes after another McKinsey director pleaded guilty to insider-trading charges in January. Should we expect more to come?
Paulson and Co. Clears $1 Billion on Citigroup Shares
Hedge fund manager John Paulson told Paulson & Co. clients that the company made more than $1 billion during the past 18 months on its investment in Citigroup, Bloomberg News reported, citing Paulson's letter to clients this month.
FBI Makes First Arrest in SEC Insider Trading Probe
On Wednesday, the FBI arrested Don Chu, an expert on Asian markets for Primary Global Research, setting the tone for the SEC's crackdown on insider trading. Chu was charged with conspiracy to commit securities fraud and conspiracy to commit wire fraud.
Daily Blogwatch: The Latest Perk of Working for Google
Some of the best reads for investors from around the Web, including posts on a misunderstanding about kickbacks at Foursquare, the second stimulus plan and the latest in Google perks: servants for its employees.
Daily Blogwatch: Dr. Doom on How to Avoid a Double-Dip Recession
Among Thursday's best online stories for investors, Nouriel Roubini explains how to avoid a double-dip recession, Melinda Gates discusses philanthropy, and a great profile of super hedge fund AQR Capital Management.
Hedge Fund Billionaire Leon Cooperman Is Giving Most of It Away
With an estimated net worth of $1.5 billion, the son of a Bronx, N.Y., plumber is now donating the bulk of his fortune to charity. Cooperman's aim: to help "those that are disadvantaged to experience the American dream."
Robert Moffat, Former IBM Exec, Gets Six Months in Galleon Case
Robert Moffat, a former executive at International Business Machines, was sentenced to a six-month prison term and a $50,000 fine after pleading guilty in the Galleon hedge fund insider-trading case.
Hard Times Hit
the Hedge Fund Business
Some hedge-fund managers are having a tough year. After suffering unusual losses, two well-known managers, Stanley Druckenmiller of Duquesne Capital and Paolo Pellegrini of PSQR, are leaving the business.
Insurers Will Hike Hedge Fund Holdings in 2010
Notoriously conservative investors, insurance companies cut their hedge fund allocations in 2009. But as the sting of the financial crisis eases, they'll come back looking for stronger returns.
