Tuesday, 21 October 2014
Last updated 10 hours ago
Oct 25 2011 | 6:52am ET
Federal prosecutors won a seventh guilty plea in a $40 million hedge fund fraud case yesterday.
Brian Coats pleaded guilty to conspiracy, securities fraud, wire fraud and promotional money-laundering conspiracy. According to prosecutors, Coats and seven others ran a fraudulent hedge fund and Ponzi scheme from 2007 through the end of 2009. Many of the group's victims were elderly.
Coats, his three companies and his co-conspirators told investors they managed a hedge fund called Black Diamond. The eight transformed the scam into a Ponzi scheme when it began to collapse in 2009.
Coats faces up to 15 years in prison and a $500,000 fine.
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 ...