Galleon's Defense: Insightful vs. Insider Information [View article]
The defense will be the Mosaic Theory. You put together an investment theme from a lot of separate pieces of information, none of them material on their own. Rajaratnam has already been quoted as saying he gets thousands of calls from people with investment ideas.
How Some of the Smartest Investors Turned Dumb in 2008 [View article]
Someone has to be in the right tail of the market return probability distribution and someone has to be in the left tail. I've never been very sure that being smart/dumb, as opposed to being lucky/unlucky, had more to do with it.
In Sam Zell's case he was definitely smart to have hedged his bet by limiting the commitment of his own funds.
Galleon's Defense: Insightful vs. Insider Information [View article]
How Some of the Smartest Investors Turned Dumb in 2008 [View article]
In Sam Zell's case he was definitely smart to have hedged his bet by limiting the commitment of his own funds.