The Wall Street Journal had a huge story about Raj Rajnaratnam, the Galleon Fund insider trader, and while his actions were despicable, ya gotta love his sense of humor… From the WSJ via Dealbreaker: The hedge fund community has been (potentially) robbed of a tremendous human being: “At Galleon, Mr. Rajaratnam took his fondness for pranks and…
Galleon
Bill Singer on the Galleon Indictments
My pal Bill Singer of Brokeandbroker.com brings us up to speed on the massive hedge fund insider trading ring and the status of some of the players.
Insider Trading Cards – Collect 'Em All!
Hot Links: Brazil's Tax, Heroin & the Upside Crash
Stuff I’m Reading this Morning… Dick Bove has a word of caution for those looking to become analysts. (Dealbreaker) Look out! Brazil is imposing a “foreign investor” tax. (Clusterstock) Lindzon’s calling this phase of the rally an “Upside Crash”. (HowardLindzon) The race to save Lehman: an excerpt from Sorkin’s new monster book. (NYT) Economists see…
If Galleon Unloads Their Treasures…
For what it’s worth, here’s a quick look at Galleon‘s top ten holdings. I’d imagine that the phones are ringing off the hook with redemption requests as we speak. These are almost all mega-caps, so I wouldn’t expect a great deal of impact should the fund have to unwind these positions quickly. NAME STOCK SYMBOL …
Galleon Hedge Fund Taking On Water
Much like the Spanish galleons of old, which sailed back to the motherland laden with the ill-gotten riches plundered from the Americas, the Galleon Group of hedge funds was nailed today for insider trading. I’ve only skimmed the indictment, but what caught my eye was the paying off of newsire service employees for an early…
