Thursday, 18 September 2014
Last updated 1 hour ago
Dec 20 2013 | 11:34am ET
A former Microsoft Corp. portfolio manager's hedge-fund dreams ended in handcuffs yesterday.
Brian Jorgenson and his friend and business partner, Sean Stokke, were hit with insider-trading charges. The two allegedly used confidential information about Microsoft to build an investment track-record that would allow them to launch their own hedge fund.
According to the Securities and Exchange Commission, which sued the two men yesterday, Jorgenson and Stokke earned $393,125 in profits since beginning the scam last year, first using Jorgenson's access to trade ahead of Microsoft's investment in Barnes & Nobles' Nook e-reader in May 2012.
Jorgenson is cooperating with the investigation, his lawyer told The Wall Street Journal. He is "incredibly remorseful for what happened," Angelo Calfo said.
For its part, Microsoft said it had "helped the government with its investigation and terminated the employee."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.