8,000 Hedge Funds?

Discussion in 'Trading' started by Nutzo, May 10, 2005.

  1. Nutzo


    Wow..........Is this a true stat?

    Now with people like Jim Cramer on mad money trying to advise mom and pop investor to hold a position for two days and dump it.:eek: Are investors a thing of the past?
  2. The 8,001th:

    NYU student defrauded investors saying he ran a hedge fund - From Hedgefund.net

    HedgeFund.net, reports Hakan Yalincak a New York University Student who allegedly deposited $43 million in fraudulent checks, also talked investors into placing $2.8 million in a bogus hedge fund.

    The 21-year-old mathematics major, is being sued by two Connecticut investors, Joseph Healey and Arthur Cohen for defrauding them into believing he ran a hedge fund.

    Yalincak claimed to have managed the Daedalus Capital Relative Value Fund, which he said had assets in Switzerland and the Cayman Islands. Court documents say Yalincak and a partner actually spent the money on a new Porsche among other things.