Thursday, 23 October 2014
Last updated 2 hours ago
Jan 22 2007 | 10:05am ET
Saying sorry isn’t enough: You have to drop the lawsuit to show you really mean it.
Citadel Investment Group founder Kenneth Griffin’s former buddy, Rush Simonson, has done both, dropping a lawsuit that accused Griffin of stealing their shared business plan, and apologizing, to boot, Citadel said. Simonson filed the suit in Chicago last year, claiming Griffin made off with the hedge fund business plan the pair devised in the 1980s.
“I have fond memories of my days in college when I would run back to my dorm room to execute trades on behalf of the partnerships we had formed,” a reminiscent Griffin said in a statement. “The filing of the lawsuit left me feeling betrayed by my former business partner.”
Simonson, who withdrew the lawsuit on Jan. 17, was not compensated for the move, Citadel said.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...