Comments on: The Rise & Fall of a Billionaire Technology Hedge Fund Guru

By: Kiers

Kiers — Tue, 20 Oct 2009 03:25:43 +0000

SAC did the same thing and they were exposed earlier. But nothing ever happend to em. WSJ report that Galleon used to trade 1000s of transactions per day…that’s how they would SWEETEN the deal for brokerages in order to get inside front running type info. then the industry would call it “statistical arbitrage”. how hokey a name is that.

By: hf

hf — Mon, 19 Oct 2009 04:00:46 +0000

If they only found $20 million of insider trades over 2 years of wiretapping on a $7 billion fund that works out to less than .3% or .14% per year! So I would not come to the conclusion that insider trading was a big part of his returns, instead it seems to be a tiny part. Why didn’t they pursue Pequot Partners’ Art Samberg for insider trading? Instead he quietly shut down his fund. Being white and connected does help it seems . . .

Insider trading is illegal and I certainly don’t condone it – but law enforcement shouldn’t be so biased regarding who to pursue. There are tons of white male hedge fund managers -

By: Luffemann

Luffemann — Sun, 18 Oct 2009 19:45:40 +0000

don’t be evil or don’t do no evil – it’s much better with: to do good – feels good ;)

By: Panch Rupaiyya

Panch Rupaiyya — Sun, 18 Oct 2009 04:14:45 +0000

Om: “…my whole life flashed before me..”

So when is your 1-page autobiography coming out?

By: Daytradingforex

Daytradingforex — Sun, 18 Oct 2009 00:25:10 +0000

Wow many top people also involved…It seems like in order to get to and stay at the top you need some luck….Or create the luck by hook or crook!!!

By: Duff

Duff — Sat, 17 Oct 2009 22:02:16 +0000

Companies do this too. I have an Irish surname, so my “too big to fail bank” sends me form letters from “Sean O’Donnell”. My wife’s account with her Scandinavian maiden name gets the same letters, except from “S. Larson”.

Oh yeah, and @mesa mattress — The FBI is near the bottom in terms of arresting the right people — a little over a QUARTER of FBI cases referred for prosecution result in a conviction.

By: mesa mattress

mesa mattress — Sat, 17 Oct 2009 16:26:39 +0000

are you kidding me? that is a very racial way of looking at this. there are more and more indians doing business in north america, so the likelihood of this corruption being traced back to places like thailand and india has grown significantly.

the FBI rarely makes the mistake of arresting the wrong people, haven’t you noticed?

By: baba

baba — Sat, 17 Oct 2009 12:18:22 +0000

Interesting to read the comments more than the article. Tells you about how the thinking goes for those who follow this blog.
One thing hopefully is clear to the Om Malik’s of the world, while covering folks who maybe at the top of the world as so called leaders, you have to investigate for yourself how the person has gotten to where they are.
Journalists like Om are the one’s who place many folks on the pedestal and then topple them off too when they find out something nefarious has been happening.It would be better to not hype things up.
Many a time journalists play a big role in hyping technologies and promoting companies etc and contribute to insider trading indirectly.
Maybe Om and others in his trade will think more about how they contribute to the HYPE CYCLE around things and possibly be more prescient…

By: arun kamath

arun kamath — Sat, 17 Oct 2009 11:10:55 +0000

Happy Diwali, Raj. Funny that he will have to spend it in Jail. Happy diwali to you too, Om

By: Blue Swan

Blue Swan — Sat, 17 Oct 2009 06:47:47 +0000

30 years ago we worried about people starving in India because the monsoons came too early…or too late…whatever.

Now we hear about Indians being indicted for investment fraud.

Progress!

By: Manish Jain

Manish Jain — Sat, 17 Oct 2009 04:53:20 +0000

Not a very Happy Diwali for Raj!

Happy Diwali to you Om!

By: Linda

Linda — Sat, 17 Oct 2009 01:34:56 +0000

doesn’t everyone insider trade? isn’t that the whole game? sounds like Raj baby upset the big boys if an insider was in on the insider trades. Just sayin’

By: PXLated

PXLated — Sat, 17 Oct 2009 01:28:02 +0000

Besides “to good to be true” there’s…
Behind all great wealth lies a crime – either morally or legally.

By: Some dude

Some dude — Sat, 17 Oct 2009 01:12:54 +0000

That might be why he was caught. U.S. authorities have been know to closely track terrorist financing billionaires without arresting them. In that position, smart folks play it close to their chest. Looks like Raj didn’t get that email.

By: duh

duh — Fri, 16 Oct 2009 23:50:07 +0000

Learn to read between the lines, son.

No doubt that the feds didn’t want to make the bust look racial, so they scrounged around for any south Asian at the FBI to lead the news conference. The second reason for this is that they wanted to convey the following: “Hey, Indians aren’t bad.. Lookie here, we have an honest one working for us.”

They do this all the time. When they bust Italians, they always have an Italian leading the news conference. When they busted Madoff, they had a Jewish guy… and so on.

This is so transparent. They really need a new shtick.

By: gbp

gbp — Fri, 16 Oct 2009 23:04:51 +0000

Om,
Sure when you get older , you go thru old memories.
First of all thanks for the news.
Folks should understand that there is no shortcut to make so much money,
if there is one it has to be proved legal in the court of law.

Are you surprised with the revelation ?