Big K

Pequot Capital Closes: Expect Downward Pressure on Top Holdings

More generally, such hedge funds don't sound either successful or well-regarded to me. If they were, they wouldn't have to be shutting down amid this kind of controversy. Maybe the author symbolizes what is wrong with Wall Street today, a culture of dubious expectations. Until the SEC opens up an investigation, is violating the law considered successful and well-regarded, as long as they can get away with whatever they were doing? For the rest of us, it is good news that the SEC is cleaning up the street, enabling the rest of us to have an honest chance. Cheaters will not be missed.

BTW, the piddly holdings of this hedge fund are insignificant, especially compared with Madoff's caper, and will be a drop in the ocean when they are liquidated.