Friday, 31 October 2014
Last updated 7 hours ago
Apr 13 2010 | 9:29am ET
It’s not a sin to be loud at a pizza parlor, but it may be an extremely bad idea.
A Reuters reporter, Aaron Pressman, writes on his blog that he overhead a Boston hedge fund manager tell a priest that he traded on some hot tips he received from a “Danielle.” Did the hedge fund manager—who Pressman speculates could be S2 Capital co-founder Steven Fortuna, who lives outside Boston—mean Danielle Chiesi, Galleon Group founder Raj Rajaratnam’s co-defendant in the insider-trading case?
The exchange between the hedgie and the priest, who were joined by an unidentified female companion, took place last Tuesday at Not Your Average Joe’s in Needham, Mass. Pressman reports that the hedge fund manager “spoke loudly and passionately about his predicament.”
“The manager told the priest he had received information about some hot stocks from ‘Danielle’ and traded on it,” Pressman wrote. “But he got caught because federal authorities were taping the phone calls.”
Fortuna pleaded guilty last year to fraud charges and is cooperating with prosecutors. Among their allegations against him? That he and Chiesi shared insider tips.
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…
Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.