The Securities and Exchange Commission accused a French medical doctor with illegally tipping off a hedge-fund manager about the results of a clinical trial conducted by Human Genome Sciences Inc., prompting the manager to dump roughly six million shares of the drug maker. The SEC alleged in the civil complaint Tuesday that Dr. Yves M. Benhamou gave the hedge-fund manager nonpublic information about negative developments in the trial of the drug Albuferon, used to treat Hepatitis C, including that one trial participant had died…Over a period of weeks prior to the announcement, the hedge-fund manager ordered the sale of all Human Genome Sciences stock held by six hedge funds he co-managed, a stake of roughly six million shares, the SEC said. [WSJ]
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
Causing the death of trial participants is the ____.
reason UBS sucks
reason why an MBA from Columbia is only a possibility for mid-twenty-somethings in finance with two years to spare.
norm at DE Shaw
A French doctor and a hegde fund manager met at a party. Their conversation was interrupted repeatedly by guests asking the doctor for medical advice. Finally, the exasperated doctor turned to the lawyer and said, “Tell me, what do you do to stop people from asking you for trading advice when you’re out of the office?”
“When they ask, I give them advice”, replied the lawyer, “and then I send them a bill in the morning.”
The French doctor decided to take the lawyer’s advice and for the rest of the evening wrote down the names and addresses of everyone who approached him for advice. The next morning
he took out the list, just as his secretary walked into his office and handed him a bill from the hedge fund manager.
In paragraph 2, the word “hedge fund manager” should be in the place of “lawyer”.
-The Joke Briefer