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2.03.2006

The seedy side of hedge funds 

Not only do they short-sell massive quantities of stock, scour the markets for arbitrage opportunities and finagle all sorts of complex derivatives -- some of their employees engage in criminal activity:


For instance, on Andor Capital Management LLC's ADV, it says one employee has a criminal record, but without going into detail refers the reader to the brokerage industry's national database, known as the Central Registration Depository, or CRD. A spokesman for Andor indicated that the disclosure relates to an incident involving underage drinking by a junior employee while in college. Andor has been registered with the SEC since the firm's inception in 2001.


Good thing the SEC is watching.

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