Tuesday, 30 September 2014
Last updated 2 hours ago
Feb 22 2008 | 12:59am ET
An alleged hedge fund fraudster has been arrested and charged with stealing tens of thousands of dollars from his investors.
Vernon Watts, a former Connecticut resident now living in Federal Way, Wash., allegedly stole almost $60,000 from four fellow Nutmeg Staters who invested in his Artist Kiosk hedge fund. Each of the victims lost between $10,000 and $20,000, Connecticut prosecutors say, as Watts frittered away the fund’s $85,000 in assets on bad investments and personal expenses.
Watts’ alleged scam, which ran from 2004 to 2005, was foiled when one of his investor-victims filed a complaint with the Securities and Exchange Commission.
He has been charged with larceny, securities violations and failing to register as an investment adviser. If convicted, he faces up to 58 years in prison.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...