Tuesday, 21 October 2014
Last updated 7 min ago
May 7 2007 | 10:16am ET
It’s the futures version of Bonnie & Clyde: Husband and wife team Monica and Brian Main of Valencia, Calif., allegedly posed as trading advisors and fleeced investors out of $3 million, according to the Commodities Futures Trading Commission.
Between April 2001 and April 2005, the Mains allegedly solicited and pushed their commodity-trading advice, services and software through a number of companies they controlled. The brazen duo posed as successful trading advisors and duped more than 1,200 investors out of $3 million.
According to the CFTC, Monica Main claimed to have become a millionaire from trading commodities using her trading system, when, in fact, she lost money trading. What’s more, the CFTC says her tainted history includes filing for bankruptcy in March 2003 and previously being convicted of criminal fraud.
The couple was ordered to pay $1.5 million in civil penalties and their companies $12.5 million in disgorgement and civil monetary penalties.
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…
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 ...