Monday, 20 October 2014
Last updated 2 hours ago
Jun 5 2012 | 10:22am ET
A former Galleon Group trader who wore a wire for the government has been handsomely rewarded for his cooperation.
Franz Tudor was sentenced to just three years' probation and ordered to pay $106,000 on Friday. Prosecutors credited Tudor, who pleaded guilty almost three years ago, with winning the guilty plea of former Diamondback Capital Management trader Anthony Scolaro. Tudor also taped conversations with Incremental Capital's Zvi Goffer and Michael Kimelman, both of whom were convicted at trial.
Tudor worked at Incremental after leaving Galleon and following a stint at Schottenfeld Group. He began cooperating with investigators in October 2008.
"Your cooperation is very impressive," U.S. District Judge Richard Sullivan told Tudor. "It was immediate, it was substantial and it was time-consuming."
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 ...