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(The New York Times)   Former SAC trader gets to feel some new "insider trading" with someone else's SAC   (dealbook.nytimes.com) divider line 5
    More: Followup, SAC, SAC Capital Advisors, Raj Rajaratnam, Preet Bharara, federal jury, Plaza Hotel, traders, fund managers  
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511 clicks; posted to Business » on 19 Dec 2013 at 9:07 AM (38 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-12-19 08:34:40 AM
I have heard it asserted that the only non-quant hedge funds that beat the market are engaged in market manipulation or insider trading.
 
2013-12-19 09:10:45 AM
You know who else had a big SAC?

upload.wikimedia.org


General Curtis LeMay, that's who.
 
2013-12-19 09:42:30 AM
*DING!*
 
2013-12-19 10:26:57 AM
Prosecutors lacked the incriminating wiretaps that underpinned past insider trading cases. The emails pointed to no smoking gun. And the government's star witness, a felon who testified to avoid prison time, fumbled his way through five days of cross-examination.

And yet a federal jury in Manhattan on Wednesday still convicted Michael S. Steinberg, the highest-ranking employee at SAC Capital Advisors to stand trial for insider trading.


This isn't at all surprising. It's a well-known fact that a rich, white man just cannot get a fair trial in this country.
 
2013-12-19 07:02:31 PM

b2theory: I have heard it asserted that the only non-quant hedge funds that beat the market are engaged in market manipulation or insider trading.


I know for a fact that in asset management it is possible to beat the market legally. It's just very tough to do long term.
 
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