Do Reporters Frontrun for Hedgies????

I'm the last guy to defend Morgan Stanley. I think that firm, I resigned the day they merged, but the players are the same, is as foul as some old swamp.

But that doesn't mean a concerted raid to drive them out of business is/was kosher.

Now. You do the work. Here is the data with the fails, and how they drive the stock down:

http://investigatethesec.com/drupal-5.5/?q=node/530

And here is Mack, lamenting a practice he embraced not long ago.

“It is very clear to me- we’re in the midst of a market controlled by fear and rumors, and short sellers are driving our stock down,” Mack said.

http://www.foxbusiness.com/story/markets/morgans-mack-short-sellers-destroying-firm/

If you look, I'm sure you will find reporters leaning on the House of Morgan for fun and profit. It is how the game is (was) played. Because although it still happens, the trap door is about to close.
 
Sauer reveals that while at the SEC, he initiated many investigations into public companies based on the tips from short sellers

Sauer defends the relationship short-biased hedge funds have with journalists such as Herb Greenberg, Roddy Boyd, Carol Remond and Bethany McLean

Sauer had been involved, at least tangentially, in most of the investigations instigated by short-selling hedge fund Rocker Partners.

Now, ask yourself. What's the problem here? How did we get in this situation? Donaldson, Levitt, Pitt, and now Cox. What are there involvements. This isn't a hypothesis anymore. It is backed by hard evidence, evidence I do believe the DOJ needs to investigate.

http://www.deepcapture.com/a-hedge-fund-suite-for-richard-sauer/

"There is no such thing as a private email".
 
For those of you who doubt Aguirre's claim, and I don't know why you would. But this gem hit my scanner minutes ago:

Source: http://www.reuters.com/article/managementIssues/idUSN3034664920081230

SEC's top enforcement accountant joins private firm
Tue Dec 30, 2008 1:21pm EST


[-] Text [+]
WASHINGTON, Dec 30 (Reuters) - The top enforcement accountant at the U.S. Securities and Exchange Commission will leave the agency in January to become a managing director at business advisory firm AlixPartners LLP.
Susan Markel, who has worked in the SEC's enforcement division since 1994, will join the corporate investigations unit of AlixPartners, which specializes in corporate turnarounds, litigation consulting and forensic accounting services.
AlixPartners is also involved in helping locate funds and investigate the investment firm of confessed swindler Bernard Madoff, a lawyer for the trustee overseeing the liquidation said at a federal bankruptcy court hearing in New York on Tuesday. Madoff is accused of defrauding wealthy investors, banks and charities around the world of an estimated $50 billion. [ID:nN30341701]

So, you see, Liebshenen, she couldn't have found out anything while at the SEC, but for say, ten times the money, she'll try again.
Markel's work at the SEC included enforcement actions against Xerox and six senior executives, WorldCom and Cardinal Health. (Reporting by Rachelle Younglai and Emily Chasan in New York, editing by Matthew Lewis)
 
Now, let's dance, shall we?????

Thanks to email messages and trading data recently obtained through discovery in the Fairfax Financial vs. SAC Capital, et al, lawsuit, we know that hedge funds such as Rocker Partners (later Copper River Partners), Kynikos Associates, Third Point Capital, and SAC Capital all traded ahead of this material, non-public information.

And that, dear readers, is illegal

http://www.deepcapture.com/hedge-funds-reading-tomorrows-headlines-today/#comment-140792

On January 13, 2003 Fontana sent his boss, Steven A. Cohen himself, a summary of his planned activities for the week, which included:

Tuesday 1/14: Morgan Keegan expected to launch on Fairfax with sell rating - we will be covering into this.

Just the beginning, my dear friends, just the beginning. But this is how business in the Hedgefund fairy world is done. Oh, we all knew it. But now, we prove it. I wonder what the DOJ is doing with this? I wonder.
 
Quote from flytiger:



Just the beginning, my dear friends, just the beginning. But this is how business in the Hedgefund fairy world is done. Oh, we all knew it. But now, we prove it. I wonder what the DOJ is doing with this? I wonder.
More...
It's been my theory that trading success rates remain nearly constant across all groups. 95% of all traders fail? Probably close to that - most of them don't have insider info.

And 95% of all hedge funds should fail, eventually, if they are really trading/arbing these [nearly] random markets. So a few are actually good traders, but most of the ones left, that don't fail in a few years, are doing illegal market manip stuff, or are doing a Madoff Arb. I've done better than 30% a year for a few years and over 115% this year. Yeah a much smaller account, but it was mostly very liquid stocks, ops and futures. But the thing is, I can prove it was really trading. Can they?
 
Now THIS is interesting:

Fairfax Declares Annual Dividend
Tuesday January 6, 8:19 am ET

TORONTO, ONTARIO--(MARKET WIRE)--Jan 6, 2009 -- Fairfax Financial Holdings Limited (Toronto:FFH.TO - News)(NYSE:FFH - News) announces that it has declared a dividend of US$8.00 per share on its outstanding multiple voting and subordinate voting shares, payable on January 27, 2009 to shareholders of record on January 20, 2009. Applicable Canadian withholding tax will be applied to dividends payable to non-residents of Canada.

Consistent with the practice of prior years, the amount of this dividend was determined taking into account the current operating results of Fairfax and its insurance and reinsurance companies and the current cash position at the Fairfax holding company. Consequently, as each year's circumstances are different, this dividend should not be regarded as indicative of the amount of any future annual dividends.

Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

We'll find out soon whether Jim and the boys still have skin in this game.
 
You must log in or register to reply here.
Back
Top