Wednesday, 24 September 2014
Last updated 14 hours ago
Apr 17 2014 | 9:49am ET
If admitted hedge fund tipster Danny Kuo goes to prison alongside former SAC Capital Advisors trader Mathew Martoma, he’d like to leave the big house with something his fellow insider-trader has lost: an M.B.A.
Kuo has asked a federal judge to allow him to attend his graduation from the University of Southern California’s Marshall School of Business next month. The former Whittier Trust Co. analyst wants his sentencing delayed until after commencement.
Kuo pleaded guilty two years ago to trading in inside information with three hedge funders: Level Global Investors co-founder Anthony Chiasson, Diamondback Capital Management trader Todd Newman and former SAC analyst Jon Horvath. He faces up to 45 years in prison, but is expected to get much less in recognition of his cooperation with prosecutors, who used his testimony to help win convictions against Chiasson and Newman.
Kuo thought business school “would be a good way to improve his résumé during a period… when he had difficulty working because of the pendency of this case,” his lawyer, Roland Riopelle, told Bloomberg News.
USC acknowledged that Kuo is indeed enrolled as a part-time M.B.A. student, although it declined to say whether it was aware of his criminal past.
Martoma lost the M.B.A. he earned at Stanford University after it emerged that he had lied on his application. Martoma, who was convicted of insider-trading in February, apparently failed to disclose that he was expelled from Harvard Law School for doctoring his transcript.
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 McKitich, CIO of Petty 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…
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.