The Daily Beast – “How does a hedge fund get an edge?” postulates a prominent New York corporate lawyer from a white-shoe firm. “Cheating, that’s how. How do you outperform the market year after year? You can’t, so you cheat.”
No wonder then that Preet Bharara, the U.S. Attorney for the Southern District of New York, focused his latest insider-trading attack on financial “professionals willing to traffic in confidential business information, all to obtain an illegal inside edge….”
