Streams

 

Hedge Funds

WNYC News

NY and NJ Pensions Sticking with Hedge Funds ... For Now

Wednesday, September 17, 2014

California's pension fund says it will end its investments in hedge funds because they're too complicated and charge too much. But New York and New Jersey aren't following suit.

Comment

Money Talking

SAC Capital Hedge Fund Charged with Insider Trading

Friday, July 26, 2013

After years of circling billionaire Steven Cohen, federal authorities brought criminal charges Thursday against his hedge fund SAC Capital Investors. 

Comment

WNYC News

SAC Capital Charged with Insider Trading

Thursday, July 25, 2013

Federal authorities are charging the hedge fund owned by billionaire Steven Cohen with making hundreds of millions of dollars illegally, and of engaging in rampant insider trading. Tuesday's announcement caps years of investigations into alleged misdeeds at Cohen's firm, SAC Capital Advisors, which at one point managed $15 billion in assets.

Comments [1]

The Leonard Lopate Show

A Wall Street Trader’s Tale of Excess

Wednesday, June 26, 2013

Former Galleon Group trader Turney Duff, describes getting caught up in an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements. His memoir The Buy Side: A Wall Street Trader’s Tale of Spectacular Excess shows the rewards and temptations of making a living as a trader.

Comments [14]

The Takeaway

'The Buy Side' and Wall Street's Dark Side

Wednesday, June 05, 2013

In 1994, Turney Duff was a fresh-faced journalism graduate from Ohio University with no clear career plan.  He moved to New York and called up a rich uncle who worked at Morgan Stanley.  A few phone calls later, Duff had his first job in finance, in an asset-management division of Morgan Stanley.  Over the next 15 years, Duff climbed the ranks of Wall Street, eventually acquiring a 7-figure salary as well as a cocaine addiction. He recalls his high flying days and downfall on Wall Street in a new memoir, “The Buy Side: A Wall Street Trader’s Tale of Spectacular Excess.” 

Comments [4]

The Leonard Lopate Show

The Story Behind Wall Street’s Largest Hedge Fund Disaster

Monday, June 03, 2013

Securities analyst turned investigative reporter Barbara Dreyfus tells the story of Brian Hunter, John Arnold, Amaranth Advisors, and the largest hedge fund collapse in history. At its peak, hedge fund Amaranth Advisors LLC had more than $9 billion in assets. A few weeks later, it completely collapsed. Her book  Hedge Hogs: The Cowboy Traders Behind Wall Street’s Largest Hedge Fund Disaster charts the paths of two traders who dominated the speculative energy market, and traces the rise of the hedge fund industry.

Comments [7]

Money Talking

Saturday Coffee Table: Money Talking Weekend Reading

Friday, May 31, 2013

Money Talking host Charlie Herman and regular contributors Joe Nocera of the New York Times and Rana Foroohar of Time magazine tell us what they're reading this weekend. 

 

Read More

Comment

WNYC News

Hedge Fund Manager Charged in 'Most Lucrative' Insider Trading Case

Tuesday, November 20, 2012

A former hedge fund portfolio manager was arrested Tuesday on charges that he helped carry out the most lucrative insider trading scheme in U. S. history, enabling investment advisers and their hedge funds to make more than $276 million in illegal profits.

Comment

The Leonard Lopate Show

Sam Israel, the Secret Market, and Wall Street’s Wildest Con

Monday, August 13, 2012

Guy Lawson discusses a massive hedge fund fraud and the search for a “secret market” beneath the financial market. His book Octopus: Sam Israel, the Secret Market, and Wall Street’s Wildest Con tells the story of hedge fund manager Sam Israel, and his year-long adventure in “the Upperworld.”

Comments [1]

WNYC News

Insider Trading Trial of Ex-Goldman Board Member Begins

Monday, May 21, 2012

A federal prosecutor says a former board member for Goldman Sachs and Procter & Gamble gave inside information to a billionaire hedge fund founder.

Comment

The Empire

Hedge Fund Donor List Raises Question: Is Cuomo "Governor 1%"?

Wednesday, April 18, 2012

Between June 1, 2007 and December 21, 2011, hedge fund employees, founders and their families have given Cuomo more than $2.5 million in campaign donations. No other candidate has raised more money from hedge funds since 2005 than Andrew Cuomo.

Read More

Comment

The Empire

Who's Who in Hedge Funds: NY's Top 10 Political Donors

Wednesday, April 18, 2012

Contributions from the hedge funds in federal campaigns leapt from only $2.4 million in 2000 to $19 million in 2008. here's a look at the top 10 hedge funds donating to New York politics.

Read More

Comment

The Takeaway

US Hedge Funds Buy Land in Africa

Thursday, June 09, 2011

American hedge funds are buying massive amounts of land—larger in size than the state of California—in Africa, often without proper contracts, according to the Oakland Institute, an independent policy think tank. The hedge funds say that it's an effort to uplift the economies of African nations, but some critics say it's a "land grab;" an opportunity to buy cheap land to grow food crops that will be exported to richer countries, ultimately depleting Africa's natural resources and raising global food prices. 

Comments [1]

The Brian Lehrer Show

Wall Street Titan Convicted

Thursday, May 12, 2011

John Coffee, Adolf A. Berle Professor of Law at Columbia University School of Law, discusses Raj Rajaratnam, the hedge fund boss who has been accused of insider trading and has been found guilty of conspiracy and securities fraud.

Comments [16]

The Takeaway

Raj Rajaratnam, Hedge Fund Billionaire, Guilty of Insider Trading

Thursday, May 12, 2011

In what has amounted to one of the largest and most prominent cases of insider trading, a billionaire hedge fund manager was found guilty Wednesday of fraud and conspiracy by a federal jury in Manhattan. Raj Rajaratnam is the co-founder of the hedge fund Galleon Group — he was also considered one of the savviest traders on Wall Street. But for nine months, the federal government secretly recorded Rajaratnam’s phone conversations with traders and powerful corporate insiders. We get the back story with Louise Story, Wall Street and finance reporter for The New York Times.

Comments [1]

WNYC News

Hedge Fund Industry on Notice as Law Enforcement Tapes Phone Calls

Wednesday, December 15, 2010

For well over a year, prosecutors have been investigating insider trading in the hedge fund industry. Last month, the FBI searched the offices of several funds in the New York area and arrested and charged a New Jersey man. The investigation has made use of a tool that makes many people on Wall Street uncomfortable: wiretaps.

Comments [2]

The Takeaway

Prosecutors Wiretap Wall Street

Tuesday, November 30, 2010

Prosecutors with the Security and Exchance Commission say they received information sufficient to subpeona and raid a number of hedge funds last week from conversations recorded over wiretaps. According to a report in The New York Times, investigators enlisted the help of seven Wall Street insiders to tape over 500 people using tidbits of informal information to strike deals on the stock market. Is this "mosaic theory," as the expert network firms call it, or "insider trading"?

Comment