Catchin cases...

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WHITE DEVIL

Sicc OG
#1
Dec 25, 2003
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#1
Some of my homeboys at an independent brokerage firm just got hit. Apparently they were illegally pushing a hedge fund that they were secondarily employed by while acting as "independent" advisors - failing to disclose their connections. In addition, several of their moves in more then a few of their positions violated SEC insider trading regulatory policies.

Everyone with them immediately cashed out at the news, but their investor return had been exceptional, a 17.9% average over 6 years. If the years of 2000 and 2001 are excluded, their "fund" made 22% annually. They're probably just going to be hit by fines, hopefully no jail time. In any case, they were a brilliant fund management team, so I doubt they'll have issues finding new jobs or starting new ventures.

But damn...happens to the best of us.
 
L

L Mac-a-docious

Sicc OG
#3
Jun 18, 2004
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#3
WHITE DEVIL said:
Some of my homeboys at an independent brokerage firm just got hit. Apparently they were illegally pushing a hedge fund that they were secondarily employed by while acting as "independent" advisors - failing to disclose their connections. In addition, several of their moves in more then a few of their positions violated SEC insider trading regulatory policies.

Everyone with them immediately cashed out at the news, but their investor return had been exceptional, a 17.9% average over 6 years. If the years of 2000 and 2001 are excluded, their "fund" made 22% annually. They're probably just going to be hit by fines, hopefully no jail time. In any case, they were a brilliant fund management team, so I doubt they'll have issues finding new jobs or starting new ventures.

But damn...happens to the best of us.
Click to expand...
LOL...White collar crime = more job opportunities.
 
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WHITE DEVIL

Sicc OG
#4
Dec 25, 2003
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#4
They were a fund management team so the pay structure is a little different. I know at least one of them bought into it, and their return was around 25%.

I know most of them were salaried and commissioned, but I'm not sure if they had stock options or not. In any case, 1000 dollars invested at 25 percent over 5 years = 3000.00.

So basically at 25 percent you can triple your money in three years. But they got popped so there were obviously other issues at play.

I just talked to my homeboy today and it looks like the fund manager might do some jail time. However, once again given their track record and successes, I'm pretty sure they will all be alright. White collar crime a-hoi.
 
DeceptaKhan

DeceptaKhan

Sicc OG
#5
May 19, 2005
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#5
what the type of schooling did these financial heads have.Like business school???Im really interested in getting into investment and financial money work,stocks and real estate
 
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WHITE DEVIL

Sicc OG
#6
Dec 25, 2003
12,356
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#6
Most have degrees in Economics, Bus. Mgt. I'm cool with alot of em, but my homeboy who is also a personal friend has a Bachelors in Economics and is a CFP (Certified Financial Planner) as well as some sort of degree through a 3-year program at business school.
 
DeceptaKhan

DeceptaKhan

Sicc OG
#7
May 19, 2005
2,341
112
63
41
#7
what the type of schooling did these financial heads have.Like business school???Im really interested in getting into investment and financial money work,stocks and real estate
 
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