Trader involved in insider trading worked at SAC Capital
I was at a large bank on Wall Street back in the Nasdaq heyday. The internet analyst at our firm was Holly Becker and she was an axe on Internet stocks along with some others, Meeker, Blodget etc.
It was found out back then that Holly Becker had been feeding her calls pre-release to her husband, who happened to work at SAC Capital. Holly resigned, no prosecutions were made. I found it unbelievable. Such is the world that is Wall Street.
The point I want to make is that in the vast majority of cases of significant outperformance, there is usually a very simple explanation. Our culture has no moral hazard. Sports, Business, Politics. Fame, fortune and power trump morals. Period.
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