FFH Message Board

 

Judd Bagley
12/23/09.12:41.PM

Analysis Investigative financial reporter Teri...

2570

 

Mark Mitchell
02/17/09.11:16.PM

Analyst Coverage A few years ago, a clique of influent...

1742

Fairfax Financial Holdings Limited Analyst Oversight

 

Herb Greenberg
FFH HBI TSCM

Moderated By
Pardis Hashemi

Fairfax Financial Holdings Limited Featured Analysis

 

Ghosts of Fairfax Financial: Now, Hedge Funds Scurry to Sever Ties with SAC Capital

by Judd Bagley, Published: December 23rd, 2009 12:44 PM CST

Investigative financial reporter Teri Buhl is reporting that hedge funds are scrambling to put as much distance as possible between themselves and the increasingly radioactive SAC Capital, which is rumored to be the next target of the FBI’s crackdown on insider trading. According to Buhl, this includes purging email exchanges with SAC.

Funds like Blue Ridge, Greenlight, Third Point, Glenview, and Maverick are cutting back on any contact with [SAC Capital's Steve Cohen]. When we asked major players such as [President of hedge fund Kynikos Associates] Jim Chanos and others if they’ve been pinging Stevie about a trade lately, you’ll get a very defensive ‘no.’

…Extra measures are being taken to hire data-miners to comb through any and all emails firms and their trading consultants ever sent to anyone at SAC in an attempt to erase them from internet memory.

If true, hedge funds Third Point and Kynikos will find it quite impossible to delete all their correspondence with SAC, given DeepCapture.com possesses several emails which, it just so happens, implicate all three funds in insider trading of a different sort; specifically, influencing and trading ahead of an analyst’s report.

DeepCapture.com first reported on this situation nearly one year ago, but I feel it’s worth revisiting and updating this topic, given recent developments.

Here’s the short version: in late 2002, a group of short-selling hedge funds, led by Kynikos Associates, learned from a Morgan Keegan analyst that he was preparing to initiate very pessimistic coverage of Canadian insurance company Fairfax Financial (FFH) Holdings (NYSE:FFH). Kynikos promptly alerted SAC Capital and Third Point Partners about this prime shorting opportunity. In the days that followed, traders at…

Fairfax Financial Holdings Limited SELECTED ARTICLES

 

Ghosts of Fairfax Financial: Now, Hedge Funds Scurry to Sever Ties with SAC Capital
Investigative financial reporter Teri Buhl is reporting that hedge funds are scrambling...

 

Our Watchdogs and the Financial Scandal of the Century
“Accountability – Integrity – Reliability” That’s the mot...

 

Email Exposes Short Seller Plot to Destroy Public Company, Fairfax Financial
A few years ago, a clique of influential journalists went to extraordinary lengths to c...

Copyright 2014 All Rights Reserved; Patent Pending