Jon Shazar

Posts by Jon Shazar

Nothing to see here.There are things at which the Securities and Exchange Commission should probably have a look. Like, say, the unregistered issuance of securities by companies dealing in fake currencies. You know, just a gander, if for no other reason than to demonstrate that they’re expected to follow all of those boring, stupid rules they hate so much. And so they have! Or perhaps not. Read more »

  • 30 Oct 2014 at 4:30 PM
  • Banks

Deutsche Bank, Suspended Traders Are Friends Again

Alright, you can come down now.When a German judge tells you in clipped tones that you do not want her weighing in on the matter of (a) your suspension for (allegedly!) trying to manipulate interest rates or (b) your suspending said alleged manipulators without actually following any of the (probably thousands of) rules in Germany regarding such, you listen. Deutsche Bank and its suspended traders have listened. Read more »

This may or not be the Lawrence Herzing in question, but you must admit it's a fetching Christmas tree.Over the past 10 years, Lawrence Herzing needed a few extra bucks. Certainly, in those turbulent times, he was not alone. But he was controller of a $4 billion hedge fund, which gave him somewhat ready access to those extra bucks, access which he allegedly used 32 times to the tune of $12 million. While this undoubtedly helped Herzing’s cash-flow problems, it also has the drawback of being quite illegal, as Herzing discovered when a couple of FBI agents showed up at his $2.6 million Greenwich home with a pair of handcuffs. Read more »

  • 30 Oct 2014 at 12:06 PM

Potrepreneurs Seeing How Chill The SEC’s Gotten

Lobbying.Terra Tech and GrowBlox are hoping prettyay prettay prettyay chill. Read more »

Made of solid platinum.When building cases against financial wrongdoers of all shapes and sizes, prosecutors and their junior partners over at the SEC have a couple of options. Find some people willing to spill on other people in exchange for not being put in jail, or pay them. The latter is accomplished via the whistleblower program, which can net you a pretty nice lump sum, indeed. Now, having to share obviously cuts into Mary Jo White and Preet Bharara’s haul, and someone’s going to have to pay for that. Guess who? Read more »

Open for business!Remember back when New York Attorney General Eric Schneiderman noticed that paying for an early look at information from news organizations looked an awful lot like insider trading? He even came up with a catchy name for it and got Thomson Reuters to agree to stop doing it. Well, fortunately for the high-frequency traders who rely on such sneak peeks, the Securities and Exchange Commission is still offering them. Read more »

Get Cliff Asness A Job On Madison Avenue

What you should look for in your hedge fund managers.The AQR chief sure knows how to sell his industry, and is now continuing his somewhat less-than-full-throated “Hedge Funds: They’re Alright, I Guess” campaign on his own website. To sum up his masterpiece, “Hedge Funds: The (Somewhat Tepid) Defense”: Most hedge funds are crap and you should probably just invest in an index fund. But if you can find yourself a non-crap hedge fund manager—one C. Asness comes to mind—you’re probably better off with him or her. Either way, the most common criticisms of the industry are pretty off-base, and as such, can be added to the Asness Menagerie of Peeves. Read more »

October Not The Best Of Times For Hedge Funds

Unless their managers enjoyed being kneed in the balls and kicked in the face until they’re coughing up blood in which case, this month’s been great. Read more »