« Carnival of Debt Reduction #214 | Main | Your 401(k) Might Be Better Off Than You Think »
A Quick Observation of the Events Involving Galleon Group
By JLP | October 20, 2009
In Saturday’s WSJ, there was a front page story about how six people were charged with insider trading surrouding Raj Rajaratnam and his hedge fund, Galleon Group. According to the articles, the hedge fund was allegedly paying analysts and company insiders for information so that they could trade on that information.
What should these accusations/findings tell us?
That it’s very hard to beat the market!
(Some) companies will go to any length to get information that no one else has in order to get a good return and beat the market.
Those companies that do manage to outperform the market year-in and year-out will find themselves under scrutiny.
Topics: Business News | 2 Comments »
October 21st, 2009 at 12:48 am
White collar crimes like this demonstrate an unfortunate attempt by people cheeating the system. I think people get addicted to the lifestyle of wealth and lose track of right vs. wrong.
October 21st, 2009 at 11:58 am
Crimes like this make me wish that the RICO law applied to white coller crime. After all, your gains are the result of illegal activity, hence they should be seized. I hate watching them get a slap on the wrist and still walk away with millions.