Tuesday, 21 October 2014
Last updated 2 hours ago
Feb 29 2012 | 4:32am ET
Technology stocks have dominated the insider-trading cases brought in the U.S. over the past two years. But they're set to play second fiddle to a new star industry for illegal tipping.
Trading in and on confidential information about pharmaceutical and biotechnology companies is now "front and center" of the U.S. Justice Department investigation, the Financial Times reports. Authorities are looking into hedge funds trading around major announcements by such companies.
Earlier this week, the Federal Bureau of Investigation said it was investigating about 250 people for insider-trading, about half of whom it hoped to build criminal cases against.
A focus on insider-trading in pharmaceuticals and biotech is not entirely new: Last year, two men pleaded guilty in an insider-trading scam that helped sink FrontPoint Partners, including that hedge fund's former top healthcare manager, Joseph Skowron. Also last year, Massachusetts authorities sued hedge fund Risk Reward Capital Management for trading on confidential information received from expert network consultants.
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 ...