Hedge fund investing should definitely be checked out by those looking to get further involved in this very complicated field. Arrest of raj rajaratnam unsettles hedge fund industry. The sec also charged six others involved in the scheme, including senior. There are six chapters in the book which will cover hedge fund taxonomy, the players, fundsoffunds, hedge fund regulation, hedge funds. If you want to learn about the hedge fund industry and the people who had a big impact on it, read more money than god by sebastian mallaby. Galleon definition, a large sailing vessel of the 15th to the 17th centuries used as a fighting or merchant ship, squarerigged on the foremast and mainmast and generally lateenrigged on one or two after masts. Galleons raj rajaratnam is released from prison two years.
A gripping account of the scandal that ruined hedge fund galleon. The rise of the indianamerican elite and the fall of the galleon hedge fund by anita raghavan. The credit crisis changed the nature of institutional investor due diligence of hedge fund managers. Rajaratnam founded the galleon group hedge fund and became a billionaire, and was considered the richest sri lankanborn person in the world. According to the new york times, roomy khan, a former employee of the galleon group hedge fund, ratted out her former boss, raj rajaratnam, after authorities learned of illegal trades khan was making. The story of galleon group, the hedge fund at the heart of the biggest insidertrading scandal in decades, has plenty of colorful characters from a billionaire whose charitable donations ended up. Anita raghavan depicts the collapse of a multibillion dollar south asian hedge fund due to insider trading and describes the case brought against them by the son of indian immigrants who went up against the.
Having studied at some of the same educational institutions as rajat gupta, i was curious about his remarkable story. Aug 26, 20 the raj rajaratnam galleon group, anil kumar, and rajat gupta insider trading cases are parallel and related civil and criminal actions. The hedge fund group hfg is a network of more than 100,000 hedge fund industry professionals from over 80 countries who actively network, partner, and refer resources and leads to each other. No matter in which year you pick up anita raghavans the billionaires gordon gekko told us greed is good. The raj rajaratnam galleon group, anil kumar, and rajat gupta insider trading cases are parallel and related civil and criminal actions. Black edge, an account of a hedge fund magnate and. But on march 9th, when the humbled mr rajaratnam showed up for the start of his trial, he. This book is rich, with so much more to offer than just a tale about the fall of the giant hedge fund, galleon, the prosecutions of raj rajaratnam and rajat gupta and insider trading. Indeed, its worth noting that this isnt the first time galleon has been accused of skirting the rules to get an edge. Even after he pleaded guilty in 2011 to trading on corporate secrets, he was spared prison time because of his aid to prosecutors in their case against his onetime boss at galleon, raj rajaratnam. Jun 04, 20 buy featured book title the billionaires apprentice subtitle the rise of the indianamerican elite and the fall of the galleon hedge fund author anita raghavan. Mirable, a professional with over 20 years of experience in the field.
Mar 20, 2018 in return, the executives provide galleon the unfair edge that the fund leverages so well. Billionaire insider trading on wall street, the galleon. The firm was founded by raj rajaratnam, a former equity research analyst and eventual president of needham. Most people have heard about hedge funds, but very few have the idea of what hedge fund is and how it is operated. The billionaires apprentice the rise of the indianamerican. He was now on the buy side, placing trades for galleons portfolio managers through brokerage firms, known as the sell side. There are wonderful back stories on the colorful cast of characters, depictions of the near economic meltdown in 2008 and riveting courtroom scenes. The company made its profit and other companies by choosing stocks carefully. The rise of the indianamerican elite and the fall of the galleon hedge fund from the worlds largest commu. Key elements of a hedge fund adviser business continuity plan. The rise of the indianamerican elite and the fall of the galleon hedge fund by anita raghavan is a gripping read and keeps you engaged. The rise of the indianamerican elite and the fall of the galleon hedge fund, published by business plus.
Also the book gives an idea of the internal politics and origins of the legendary consulting firm mckinsey and how ruthless it is with its even the most celebrated partners and employees. Wall street was tough to get into for us, raj rajaratnam, the founder of the galleon group hedge fund, explained to newsweeks suketu. When the hedge fund liquidated after rajs arrest, smith reportedly launched. On friday october 16, 2009, raj rajaratnam was arrested by the fbi for insider trading in the stock of several publicly traded companies. Each year, the hedge fund group offers several fullday capital raising and hedge fund marketing workshops. The galleon hedge fund scandal and the big names that it took down is still fresh in our minds for it was one of the most publicised and eventful insider trading cases that was brought to court. Jun 30, 20 rajaratnam founded the galleon group hedge fund and became a billionaire, and was considered the richest sri lankanborn person in the world. May 11, 2011 when he formed his own hedge fund, galleon group, in 1997, his services were in hot demand. The book is notable for its amazing insider detail and rich, nuanced portrayals of those. Caught in insider trading crackdown, exgalleon trader.
Jun 03, 20 in 1999, on the cusp of the hedge fund boom, mr. While performance remains a critical diligence point, aspects of the hedge fund advisory business other than performance now play a more prominent role in the investment decisionmaking process of institutional investors. The billionaires apprentice, by anita raghavan the. That question runs through a new book, the billionaires apprentice. Statement from galleon founder raj rajaratnam to clients on winding down all of the firms hedge funds. By exposing the fall of galleon hedge fund, the book also exposes what goes behind the veiled curtains of billiontrillion dollar hedge funds, its not the sharp analysis of of a mathematical genius but the ability to get insider corporate information that gives this fund the edge to hedge. The galleon group was a privately owned hedge fund firm that provided services and information about investments. In return, the executives provide galleon the unfair edge that the fund leverages so well. Book for children till adult are different content. Sedna capital, rajaratnams brothers hedge fund, whose suspicious trading activity sparked the investigation into galleon in the first place, suddenly closed, largely on account of poor performance. Apr 20, 2011 the trial of raj rajaratnam, the billionaire cofounder of hedge fund galleon group, enters its final phase. In 2006, he became a portfolio manager of the galleon emerging technology funds aka the galleon communications funds. Many books on this topic go into numerous technical details which is not always the most important poin. The firm was the center of a 2009 insider trading scandal which subsequently led to its fall.
Aug 16, 2015 sometime, person feel need book once they found difficult problem or even exercise. Rajaratnam left the firm in 1997, but took the fund and called it galleon, after the spanish empires ships used to ferry gold and spices from the new world. A practical approach to understanding investor motivation, manager profits, and fund performance. The rise of the indianamerican elite and the fall of the galleon hedge fund anita raghavan. Rajaratnam posted superior investment returns, attracting blue chip investors like new jerseys state pension fund and ubs, the giant swiss bank. Galleons raj rajaratnam free from prison after almost. Feb 01, 2017 this improbable winning streak eventually got the f. The rise of the indianamerican elite and the fall of the galleon hedge fund. Billionaire insider trading on wall street, the galleon hedge. Also the book gives an idea of the internal politics and origins of the legendary consulting firm. Jul 26, 20 wall street was tough to get into for us, raj rajaratnam, the founder of the galleon group hedge fund, explained to newsweeks suketu mehta after his conviction on multiple charges of. Jul 19, 20 that question runs through a new book, the billionaires apprentice. He was previously a senior trader with the galleon group, which closed in 2009 amid an insider trading scandal that resulted in.
More players emerge in galleon group scandal sfgate. The quintessential reading list for finance students. At the center of the web is raj rajaratnam wg83, capo of the galleon group, a hedge fund specializing in technology stocks. The rise of the indianamerican elite and the fall of the galleon hedge fund, presents oftendevastating portraits of rajaratnams main illegal. When he formed his own hedge fund, galleon group, in 1997, his services were in hot demand. The jury will soon begin deliberating, in one of the largest insider trading cases ever.
Witnesses at mondays hearing included a former lawyer for galleon group who said the sec had been probing activity in the companys 14 hedge funds since 2003 and andrew michaelson, a. The billionaires apprentice the rise of the indian. Well, probably youll have this the billionaires apprentice. Anita raghavan talks about her book, the billionaires apprentice. The billionaires apprentice meet your next favorite book. Anita raghavan is the author of the billionaires apprentice. My coverage of raj rajaratnam, the wall street hedge fund manager accused of orchestrating a sophisticated insider trading ring with tipsters at firms such as ibm and intel, has prompted an email. Book tracks how rajat gupta fell into rajaratnams web. Overview galleon is a hedge fund based in new york. Galleon was among the worlds 10 biggest hedge funds in the early 2000s. Preet bharara sent me to jail to advance his own career. The billionaires apprentice, by anita raghavan the new. Raj, his brother rengan, and several of their peers came to the states as products of elite south asian prep schools modeled on eton and its english brethren. Galleon hedge fund taking on water the reformed broker.
A gripping account of the scandal that ruined hedge fund. The apprentice has to be rajat gupta himself a humble multimillionaire who services the only billionaire in view. She wrote a book, about the galleon hedge fund, the billionaires apprentice that tracked the downfall of roomy khan and her colleagues. Adam smith, a portfolio manager at the nowdefunct hedge fund the galleon group, always seemed to have a plan b. The rise of the indianamerican elite and the fall of the galleon hedge fund, in which she chronicles the story of the galleon. Buy featured book title the billionaires apprentice subtitle the rise of the indianamerican elite and the fall of the galleon hedge fund author anita raghavan.
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