Ghosts of Fairfax Financial: Now, Hedge Funds Scurry To Cut Ties To SAC

[Parsad]

Judd Bagley article on how several hedge funds, including Kynikos, Greenlight, Third Point & Maverick, are cutting all ties to SAC Capital as the rumours continue to spread that they are the next big target of investigators.  Cheers!

 

http://www.marketrap.com/article/view_article/91190/ghosts-of-fairfax-financial-now-hedge-funds-scurry-to-sever-ties-with-sac-capital

 

 

[Parsad]

Read Dave Patch's letter to the SEC:

 

http://www.sec.gov/comments/s7-31-08/s73108-59.pdf

 

Cheers!

[shalab]

Shows how the press and hedges work - did SEC do anything about this insider trading, probably not. They caught hold of the galleon guys but let go others. Chanos is a buddy of Spitzer - apparently they were in the call girl network together.

[djcattlco]

Thanks Parsad for the link to Patch's letter.  Because the allegations against the shorts are now heating up again and "new" information seems to support FFH, I wonder if a settlement is perhaps lurking in the shadows? 

[Parsad]

Possibly, but I'd put my money on them going to trial.  I don't think this is just an attempt at a moral victory for Prem...it's all about reputation, and he will want alot of what happened to go on the record and be out in the public.  Cheers!