 The Wild Wild World of Wealth |  |
Preet Bharara, the U.S. Attorney for the Southern District of New York, summed it up best, “When people frantically begin shredding sensitive documents and deleting computer files and smashing flash drives and chasing garbage trucks at 2 a.m., its not because they have been operating legitimately.
Acrimoney ran a post last October about reloading—that’s hitting the same Ponzi victim twice. Now with some Madoff victims losing the spread between a twenty and fifty cents recovery, I wonder if we’re seeing more of the same. Is it savvy investing or is there a functional equivalent of expert networks in the Ponzi world?
It’s Worst Case Wednesday. And here’s the advice column I promised last week. Consider the following scenario: You’re at your desk, drinking $5 Starbucks and listening to the morning call. Three burly guys—Mack Truck faces—appear from nowhere on the trading floor. They’re miked up, wearing earbuds that stream deep inside their wrinkled jackets. Watch CBS News [...]
(By a Leading Hedge Fund in Greenwich, CT) Times are tough. So to help out, I’m running the following job description submitted by a headhunter from Manhattan. This is an unpaid advertisement, which I’m featuring as a service to my readers. Job Ref. MN 4623 Our client is a leading US hedge fund with a [...]
Hiring a dwarf to pose as a “small-cap” analyst isn’t funny. Shredding SIM cards is more effective than biting them in half. The SEC is awake. “Octopussy” is not a James Bond movie. McKinsey & Company’s publication, “Motivating people: Getting beyond money,” is a must-read for…well…McKinsey & Company. The Tamil Tigers are not a soccer [...]
The Death of Insider Trading II On Thursday, prosecutors charged fourteen more people with insider trading. The defendants all have links back to Galleon, in a corrupt web growing broader by the day. Acrimoney pays especially close attention to behavior on Wall Street and inside Hedgistan. Today’s story falls into our favorite category: You can’t [...]
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