15 Hedge Fund Managers Made $23 Billion In 2020
Tyler Durden, Zero Hedge, 10 February 2021
The historic gains by a handful of Wall Street tians demonstrates “the disconnect between the stock market and the real economy,” said finance professor Reena Aggarwal, director of Georgetown University’s Center for Financial Markets & Policy. While high volatility and low interest rates buoyed hedge funds, much of the population struggled “with worries about health, jobs, mortgage payments and student loans,” she said.
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Patrick Byrne, Facing Dilemma, Lashes Out at Penson Financial
gary-weiss.com, 9 October 2009
Sam Antar today describes the serious dilemma facing Patrick Byrne, the wacky CEO of Overstock.com. Thanks to an SEC investigation instigated by Sam, who has posted frequently about how Overstock has systematically inflated its financial statements, Byrne is caught between the proverbial rock and a hard place.
He has to either restate Overstock’s recent earnings–including a much-ballyhooed “profit” in the fourth quarter that was actually a loss–or wait until the SEC forces him to do so.
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