Behind B1
U.S. Pursues Sweeping Insider-Trading Probe [WSJ] – “could eclipse the impact on the financial industry of any previous such investigation”
- Gus Lubin: “If the charges stemming from this probe have the same scope as the probe, it will shake Wall Street to its core.”
- NY Post: “the probe could result in arrests by Christmas and would likely target hedge funds, mutual funds, other investors and the attorneys and consultants suspected of passing them insider information.”
- Joshua Brown: “Calling this type of arrangement an “expert network” is Classic Wall Street. Making up euphemisms for things they want to sell is what this industry has been built on.”
- Barry Ritholtz: “The WSJ occasionally buries huge stories in its much less read weekend edition… this was a classic example.”
- Henry Blodget: “One goal… appears to be to nail SAC Capital, the giant, wildly successful hedge fund run by Steve Cohen.”
The Money Quote
“This is the rally that few believed, and many missed.” Floyd Norris, NYT
Make Money
Hedge Fund manager Whitney Tilson recently shorted OpenTable – here’s why.
Save Money
Nontraditional Black Friday Deals – Bucks blog
Visualize it
Long term real growth of US GDP – from Visualizing Economics:
Watch it
Hedge fund manager David Einhorn on WealthTrack:
