David Sokol, once considered a likely successor to Warren Buffett as CEO of Berkshire Hathaway, resigned this week from Berkshire under a cloud of possible insider trading charges. But these recent ethical lapses are hardly the worst of Sokol's business transgressions.
David Sokol, widely viewed as the heir apparent to famed investor Warren Buffett, abruptly resigned Wednesday. What investors want to know now is who's still in the running to succeed Buffett as CEO. Here are four possibilities.
Some stock groups are harder to divine than others, and among those that are tough to figure is the often-opaque insurance industry. But Ray Dirks has been around it for a long time, and when he recommends an insurance stock, it behooves investors to pay attention.
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?
Nope, Angelo Mozilo won't be serving time, no matter what the evidence shows. In fact, he won't even face a trial. Wondering how the most convictable CEO among the titans who brought down the financial system is getting off so easy? The answer lies in the revolving door between Wall Street and its "regulators."
Innocent men don't usually rip open disk drives with pliers and frantically shred sensitive documents. So it doesn't look good for the two hedge fund managers charged with insider trading yesterday who are taped describing such actions.
Among Tuesday's best online stories for investors: What is founder of Intuit doing now? When is it insider trading and when is it just good research? And, what would you do for $5?
The feds appear to be trying to broaden the notion of insider trading to include the information-gathering of hedge funds as criminal activity. But this could be difficult to prove in court, because there's no statuary definition of insider trading.
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.
In the biggest Blogwatch ever, some of day's top stories for investors, including how the Beatles on iTunes could have huge significance for the stock market; why insider trading might be difficult to prosecute; and the best IPOs of 2010.
Wellington Management has received a document request from federal regulators looking into possible insider trading on the part of money managers with the firm, Bloomberg News reported, citing a person familiar with the process. Janus Capital Group also received such a request.
