Cut And Paste Job Bad News For Hedge Funds
Thursday, February 4, 2010 : PermalinkWSJ – A London hedge-fund manager who cut and paste figures to make his portfolio look $27 million better hasn’t done any favors for the mass of hedge funds still trying to rebuild their reputation with investors after a poor 2008 and the Madoff scandal.
Simon Treacher, formerly of BlueBay Asset Management–which wasn’t held accountable–collected quotes from brokers to back up valuations on parts of his trading book, a common enough practice. But when he didn’t like the prices, he cut and paste better ones into documents.
