According to Bloomberg, yes. As in the case of Moore Capital’s alleged little insider trader, Julian Rifat, who found the “look but don’t touch” rule too difficult to abide.
Rifat was an execution trader in the London office of Moore, a New York-based firm that oversees $15 billion. His job was to get the best prices for portfolio managers without telegraphing the firm’s buying and selling to rivals. He was taken into custody on his 41st birthday.
“By definition an execution trader sits near the money; he can smell the money, but he can’t touch the money,” said Jason Kennedy, chief executive officer of London-based executive- search firm Kennedy Associates.
For any managers hoping to avoid embarrassing headlines and nationally televised perp walks, a suggestion. At the end of each day, allow these guys to strip naked and roll around in the room where you keep the cash. Let them dive, Scrooge-McDuck style into the ball pit of gold coins. Let them rub it where the sun don’t shine. Let them tap that ass. Only when you remove the forbidden fruit aspect of it all will you be able to trust these guys.
In marginally related news, here’s some random info about Rifat. Haven’t yet figured out how it can explain his motivation but surely one of you can figure it out.
Rifat in 1984 set a local high-jump record by an under 17- year-old at 1.95 meters (6 feet, 5 inches), according to Andy McKenzie, a Gloucester Athletic Club official. He also holds one of the U.K.’s all-time best combined scores in the decathlon, according to Athletics Weekly, and competed in the event for Great Britain in an international meet in 1990.