Tuesday, 30 September 2014
Last updated 2 hours ago
Mar 3 2011 | 11:14am ET
Galleon Group founder Raj Rajaratnam called an analyst at the hedge fund an "idiot" after he questioned the accused insider-trader's prediction about Goldman Sachs' earnings, the lawyer for the whistleblower in the case said.
Stuart Meissner's interview with CNBC indicates some of the potentially damning testimony his client could offer at Rajaratnam's trial, set to begin on Tuesday. The whistleblower, a former Galleon employee who has not been identified, is in talks with prosecutors about testifying against his old boss.
Among the incidents witnessed by the whistleblower was an outburst by Rajaratnam in late 2007 or early 2008. At a meeting, the Galleon founder "boldly and without any analytical support declared that Goldman's earnings would be an exact figure."
A Galleon analyst, however, disagreed. Irritated by the interruption, Rajaratnam turned to the analyst, who was not identified, a said, "You idiot, I just told you the number."
Rajaratnam is accused of having received confidential information about Goldman's earning from former McKinsey & Co. head Rajat Gupta, who sat on Goldman's board. The Securities and Exchange Commission this week sued Gupta, who has denied any wrongdoing.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...