Yale student who allegedly duped investors now barred from the industry

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dealmaker

Yale student who allegedly duped investors now barred from the industry
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Omar Zaki, 21, ran a hedge fund from his room at Yale University that misled investors, according to an SEC filing. The graduate, from New York, claimed his fund relied on an algorithm to manage funds of $3 million. The SEC says none of that was true. (Business Insider)
 
Too much dumb money lying around and way too much credit given to the name of the school and the guy's own nerdy name. I bet you 90%+ of the investors gave him money because he went to Yale. Yale+a nerdy name + algorithm must = high return. If he was going to a community college with a name like Michael Smith, nobody would've given him a dime if he really had a winning algo that can beat the market.

That's what the world is coming to: Names. Nobody gives a s*** about substance anymore.
 
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