The WSJ shines a light on the practice of "marking the close" or "portfolio pumping," when money managers make aggressive bids for shares in a company they already own in the final moments of a quarter. That drives up the value of their entire holding, boosting their quarterly performance and enabling them to attract new money and generate higher fees. While the practice breaks laws on deceptive trading, it's hard to prosecute.
The WSJ shines a light on the practice of "marking the close" or "portfolio pumping," when money...
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