Showing posts with label hedge fund. Show all posts
Showing posts with label hedge fund. Show all posts
Tuesday, October 29, 2019
renaissance hedge fund simons
https://www.bloomberg.com/opinion/articles/2019-10-28/how-jim-simons-turned-built-the-best-hedge-fund-ever
Thursday, January 08, 2009
Thursday, December 18, 2008
the father of all the ponzis
from
http://www.ft.com/cms/s/0/e8294d3c-ccef-11dd-9905-000077b07658.html
Pomerantz, a New York law firm, said it was building a case on behalf of clients, and it was “increasingly apparent that investors who invested with Madoff indirectly through one of his related ‘feeder funds’ may have a basis for legal redress, against those funds and their auditors”.
Many of the other big US lawyers have also been instructed by victims to put together cases and find deep-pocketed companies to sue.
However, auditors say they are entitled to take on trust the word of custodians of assets.
Cindy Fornelli, executive director of the Center for Audit Quality, the US audit lobbyist, said fund accountants were responsible for ensuring money was “disbursed to the firms it invested in.”
“It is not the auditor’s responsibility to audit the underlying investments of the firms the capital management firm invests in. As an example, if the firm you’re auditing invests in AT&T, you’re not responsible for auditing AT&T.
“Rather, the existence of the underlying securities is verified with a third party, which in this case was a respected and SEC-registered investment adviser who was a former head of Nasdaq.
“In our view, the Madoff matter demonstrates why more light is needed in areas not currently regulated in our capital markets.”
BDO Seidman pointed out it did not audit Madoff Securities. It said its “audits of Ascot Partners conformed to all professional standards and we will vigorously defend ourselves against these unfounded allegations”.
PwC and Ernst & Young declined to comment. KPMG said: “Our work conformed to all professional standards.”
http://www.ft.com/cms/s/0/e8294d3c-ccef-11dd-9905-000077b07658.html
Pomerantz, a New York law firm, said it was building a case on behalf of clients, and it was “increasingly apparent that investors who invested with Madoff indirectly through one of his related ‘feeder funds’ may have a basis for legal redress, against those funds and their auditors”.
Many of the other big US lawyers have also been instructed by victims to put together cases and find deep-pocketed companies to sue.
However, auditors say they are entitled to take on trust the word of custodians of assets.
Cindy Fornelli, executive director of the Center for Audit Quality, the US audit lobbyist, said fund accountants were responsible for ensuring money was “disbursed to the firms it invested in.”
“It is not the auditor’s responsibility to audit the underlying investments of the firms the capital management firm invests in. As an example, if the firm you’re auditing invests in AT&T, you’re not responsible for auditing AT&T.
“Rather, the existence of the underlying securities is verified with a third party, which in this case was a respected and SEC-registered investment adviser who was a former head of Nasdaq.
“In our view, the Madoff matter demonstrates why more light is needed in areas not currently regulated in our capital markets.”
BDO Seidman pointed out it did not audit Madoff Securities. It said its “audits of Ascot Partners conformed to all professional standards and we will vigorously defend ourselves against these unfounded allegations”.
PwC and Ernst & Young declined to comment. KPMG said: “Our work conformed to all professional standards.”
Monday, December 15, 2008
madoff fuckoff
http://ftalphaville.ft.com/blog/2008/12/15/50428/elementary-dear-sec/
http://www.marketwatch.com/m/story/857b1318-23a1-4355-878a-5ab629877287/0
http://clusterstock.alleyinsider.com/2008/12/how-we-knew-bernie-madoff-was-a-fraud
http://clusterstock.alleyinsider.com/2008/12/flashback-2001-barrons-questioned-madoffs-returns
http://www.marketwatch.com/m/story/857b1318-23a1-4355-878a-5ab629877287/0
http://clusterstock.alleyinsider.com/2008/12/how-we-knew-bernie-madoff-was-a-fraud
http://clusterstock.alleyinsider.com/2008/12/flashback-2001-barrons-questioned-madoffs-returns
Thursday, December 04, 2008
Wednesday, December 03, 2008
Monday, November 10, 2008
Thursday, November 06, 2008
Monday, November 03, 2008
Sunday, October 26, 2008
Thursday, June 05, 2008
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