Imagine, if you will, that you are a stock-picking robot. You’ve put in the time, come up through the trenches, and have finally started to garner the respect you deserve. Investors are flocking to your fund, begging to put in as much money as you’ll let them. People were wary at first, not sure what to make of your style, but you’ve finally proved to them you’re the real deal. Life is good. Then some two-bit hacks come along and threaten to destroy everything you’ve worked for, sullying the reputation of legitimate stock-picking robots with the one they used as a front for their scam.
Starting at the age of sixteen, the defendants, twin brothers Alexander John Hunter and Thomas Edward Hunter, developed an elaborate scheme to manipulate the prices of penny stocks at the expense of unwitting investors. The Hunters concocted and hyped the tale of a “stock picking robot” named “Marl” that they claimed could identify penny stocks that were poised to appreciate sharply in value. In their email newsletters and websites (doublingstocks.com and daytradingrobot.com), the defendants represented that the “robot” was a highly sophisticated computer trading program and the product of extensive research and development. The defendants’ story was persuasive. Approximately 75,000 investors, the vast majority of whom lived in the United States, paid at least $1,200,000 for annual subscriptions to the Doubling Stocks newsletter and copies of the robot software. In reality, the “stock picking robot” was a work of fiction.
Did “Marl” come up with brilliant investment ideas based on painstaking research, meetings with management, and complex analysis? No, in fact he did not. Read more »
Matt and Ben. Penn and Teller. Bert and Ernie. Gary and Lloyd. As those who keep up on the bromances of Wall Street know, Lloyd Blankfein and Gary Cohn are the absolute best of buds. While their relationship started out as a work thing back in 1990, when Cohn was hired as a metals trader and “became Blankfein’s corporate problem solver,” in the twenty plus years since it’s moved far beyond that to include hanging on weekends, family vacations, and wives who are also tight. According to a 2010 profile, Cohn isn’t so much LB’s righthand man as he is a part of him, having been introduced to people on at least one occasion as simply “Lloyd’s best friend.” And while their bond was no doubt strengthened by weathering the financial crisis and the Goldman haters together, as bosom buddies who are always there for each other and would do anything for one another, be it taking a bullet, donating a kidney, or just calling to talk about nothing, lately there has supposedly been a little friction. Read more »
You're just 9 months and one set of breast pumps away from this.
Trish Regan’s been look pretty good lately, no? Especially for a woman who just gave birth a few months ago? I’m sure you’ve noticed, as has John Carney, who needed to know more. The crack journalist did some digging and found out that you, too, can look like this, by incorporating a few simple tricks into your diet: cut out food, and breast feed twins (it burns a ton of calories and keeps you honest). Regan has lost over 45 pounds on the plan. Tomorrow, we reveal how Kudlow maintains his 30-inch waistline. You’re not gonna wanna miss this.