Wednesday, 22 October 2014
Last updated 14 hours ago
Oct 2 2009 | 2:31am ET
An accused California hedge fund fraudster can be freed on bail, a judge has ruled. Matthew La Madrid, accused of running a $30 million Ponzi scheme, can be released on $300,000 bail, despite the protests of prosecutors.
La Madrid’s Plus Money allegedly ripped approximately 300 investors off, promising to invest their money in a covered-call options-trading strategy. But three years after starting the hedge fund, La Madrid abandoned the strategy and illicitly dispersed the fund’s money, authorities say.
La Madrid faces more than 400 years in prison on the charges, ample reason for him to flee if freed, prosecutors said. But Judge William Hayes upheld the bail set earlier by a magistrate judge. La Madrid’s lawyers pointed to the fact that their client did not flee despite being under investigation for more than a year.
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 ...