Commentary Category:

There was an article a while back in The New Yorker about the founder of one of this country’s most successful hedge funds, who spoke about how he got his start in the stock market. As a teenager, he had caddied at a golf club where some of the members, Wall Street investors, gave him tips on what stocks to buy. Based on one of those tips, he bought stock in Northeastern Airlines. Soon after, the airline received a takeover offer and its stock tripled. “I figured that this was an easy game,” the Founder said. Back then, almost fifty years ago, the game could be that easy, if one got the right tips. But those days are no longer. After his criminal conviction for trading on inside information, the Feds allowed Raj Rajaratnam to spend one last summer with his family before he was sentenced to eleven years in …