This is a stop-the-presses moment. According to today’s NY Times, Raj Rajaratnam, the alleged mastermind of alleged insider trading at Galleon Group, actually lost money on the scheme.
I’m now invoking my “I’m not good enough to make this stuff up” rule.
To understand what an achievement this is, imagine that your phone rings and a voice on the other end says, “Sneaky Pete to win, 4th race at Belmont.” You dash to the nearest OTB parlor and lay down ten large on Bob’s Your Uncle.
I say we should invoke what soccer referees call the “Play On” rule. Even if there’s an obvious foul, if the team that suffered the foul has the ball and is in an advantaged position, you ignore the infraction and let play continue.
In this case, it sounds like the rest of us are better off with this guy in the market. Play on!
Carp Diem 