Wednesday, May 11, 2011

Will Hedge Funds Go Psychic?

With the conviction of Raj Rajaratnam, the Greenwich hedge fund billionaire, trading on inside information has become a definite no-no. What alternative strategy can hedge funds adopt?  Here's a clue: On the hedgies' home turf of Greenwich and neighboring Connecticut towns, fortune telling in in such demand that a psychic turf war has developed.

There's no law against trading on future information, is there?

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