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Jury: Mathew Martoma’s Trades Of The Insider Variety

Jurors in Manhattan have reached a guilty verdict in the insider-trading trial of Mathew Martoma, the former SAC Capital Advisors LP portfolio manager accused of insider trading. The jury said Martoma used inside tips on trades that earned SAC $275 million. [WSJ, earlier]

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58 Responses to “Jury: Mathew Martoma’s Trades Of The Insider Variety”

  1. Guest says:

    No!!!! Really?!?!

  2. HighFrequencyHater says:

    Calling it at 8.5 years, price is right rules.

  3. Guest says:

    Kudos to them for adding a little suspense by making the deliberations last longer than a day and asking for evidence that the Post interpreted as possibly being positive for the defendant. Made me start second guessing…

  4. Master Preet says:

    80-0, son.

  5. CNBC sucks says:

    Hey CNBC – how come the news hasn't reached you yet?? who you need to call – a trader in the pit? Kramer? Icahn??

    worthless …

  6. PermaGuestII says:

    Ask not for whom the bell tolls, Stevie; it tolls for you.

    • Guest says:

      The good news is that he doesn't have to pay out Martoma's astronomical legal fees…. or would he take the risk of Martoma singing if he didn't pay the legal bill?

      • PermaGuestII says:

        Uncle Sam is going to offer little Mattie a choice here: sing long, loud and clear, and spend 3-4 years hangin' with Bernie in NC; or, remain silent– and see the outside of a prison wall again in the year 2037 or so.

        • TLTC says:

          They say they are reluctant to do that because of his history of fabrication and falsifying things. Makes for a poor witness. That's a quote from a source at the DA.

    • Guest says:

      *thee

      – UBS Hemingway Quant

      • PermaGuestII says:

        Poseur.

        -J. Donne

        • Drunk Ernest says:

          Hey! …..Fuckers. I swiped a lot of ideas from John Donne including that title. It came from Johnny's Meditation 17: "No man is an island, intire of it selfe; every man is a peece of the Continent, a part of the maine; if a Clod bee washed away by the Sea, Europe is the lesse, as well as if a Promontorie were, as well as if a Mannor of thy friends or of thine owne were; any mans death diminishes me, because I am involved in Mankinde; And therefore never send to know for whom the bell tolls; It tolls for thee.. I'd be standing there naked, after sharpening 25 pencils before trying to write ONE TRUE FUCKING SENTENCE and get it going but sometimes it just didn't happen. The damn bellhops at the Ambos-Mundos are surly and respond to their title when called with "The last belle I hopped was your sister, Papa!"That results in a laugh like that of the maid when I pulled the wrong handle thinking I was flushing the French toilet but instead I pilled the damn skylight down on my head! I had just taken Florette and "broke her open like a $9 dollar shotgun" and had spent the better part of the Alsatian afternoon using her in that way for my own gratification, fulfilling the analogy of "driving her to Dallas" that went along with the description of the aforementioned weapon, and while pounding away upon her in the fashion the English refer to as the "doggy-style", like the bombs falling in Segovia, I was silently humming the cannonade from The 1812 Overture and in my mind I was singing, "This is the cereal that's shot from guns!!" as in the popular jingle albeit not as odd as the ones the bearers sang while walking up Kilimanjaro and surely no lion would come near us with all that native catter-walling and so I reached for a pencil; a Faber#2, that when sharpened could kill the Marlin, he who leaps from the watery abyss, slick and shiny like an Aggie petroleum engineer coming out of "Asian Tan" at 3 am, mentally replaying his happy ending as the late flights of Southwest scram in over Bachman Lake where the Harry Hines belles toil for thee.

  7. Lamp says:

    Thanks O'Stevie!

  8. Vonteno says:

    If he has any decency left he should perform an enema on his shit canal for his new cellmate.

  9. Guest says:

    Stevie was right. Martoma was a one hit wonder. The best trade he could have done was to cooperate yet he took to low odds to roll the hearing dice.

  10. Guest says:

    Martoma is free on bail until sentencing? Really? Now which passport name have the Feds confiscated? Jay Chase? Matt? Ajai? Would like to see the complete list.

  11. You Know Who says:

    Remember the Omerta.

  12. Guest says:

    When do the jurors find out about Harvard Law/Circuit Court internships?

  13. Guest says:

    Another proud beneficiary of the H1B1 program.

    • Guest says:

      Really shocked to hear an Indian guy turned out to be a film flam man.

      -Nobody who has done any work in Asia

  14. GlassHalfFull says:

    In related news, Martoma made it on BB mvp list. Yay.

  15. Guest says:

    Stevie, probably already got him a Puerto Rican passport.

  16. Guest says:

    Well, he's going to have to find some way to kill the next few years while in the big house.

    Does Harvard give correspondence classes?

    • Futures says:

      I can tell you first hand that compliance frowns on accounts for people trading from prison.

      Presumably for margin calls though it was never made clear.

  17. Guest says:

    Waiting for Marissa Mayer to appoint him as the next COO.

  18. Harlem rap quant says:

    18 months? Please. That ain't facing time, I'm stressed anyways, need it for vacation time

  19. SnoozeBC says:

    Tonight on Kudlow Report:

    Was Obama a personal friend of Martoma. Were they continent buddies (Africa and Asia) back in early days.

  20. Laxbro says:

    He'll be out in 6 months … after he forges release documents.

  21. Joel Sucher says:

    At least he didn't faint…

  22. Ajai says:

    I was just trying to impress my parents.

  23. Pennies? says:

    How much of the $275m that SAC made off Martoma did the US govt claw back?

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