Tuesday, 21 October 2014
Last updated 25 min ago
May 22 2014 | 10:23am ET
Before winning election to Congress, Rep. Michael Grimm (R-N.Y.) was an undercover Federal Bureau of Investigation agent. But six years after leaving the bureau, Grimm’s corrupt hedge-fund manager alter ego lived on in his cellular phone.
Grimm’s cell phone was listed under “Michael Garibaldi of Centurian Consulting,” the hedge fund he supposedly ran while undercover, until at least 2012, the New York Daily News reports. Grimm continued to use the phone as his primary number under as recently as last year, and received mail addressed to Garibaldi.
It is unclear why Grimm kept a cell phone registered under the Garibaldi name. Last month, he was indicted on fraud charges related to a restaurant he ran in between his time at the FBI and his election to Congress in 2010.
Grimm has denied the allegations.
Grimm went undercover as Garibaldi, nicknamed “Mikey Suits,” as part of an insider-trading probe.
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 ...