Book Reviews

The Tragic and Needless Destruction of Raj Rajaratnam, Price-Giver Extraordinaire - Forbes
In Rajaratnam’s case he’s up front that “I, like every other hedge fund portfolio manager, did not turn away information.” What’s sad is that something so basic requires saying.

Years ago, and while at a dinner in New York City, the subject of “insider trading” came up. A woman who had formerly worked in Royal Dutch Shell’s headquarters had an interesting anecdote to convey about trading on material non-public information (MNPI). She’d worked in accounting for Shell, and as such was privy to its quarterly earnings before investors were.Her story was that she, along with several other employees, would make small inter-office wagers every quarter on what the stock-market’s reaction would be to the numbers. The guesses were all over the place, and usually wrong.About this story, it will be said up front that the markets and economy would be much more vibrant if they got rid of undefinable “insider trading” laws altogether. The more informed the markets are, the much better. What a backwards, confused world we live in that something so additive to market and economic health is so demonized.‍

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December 8, 2021
A Review: Uneven Justice: The Plot To Sink Galleon
Uneven Justice: The Plot to Sink Galleon by Raj Rajaratnam is a powerful account by a man who was let down by the American Justice System.

Uneven Justice: The Plot to Sink Galleon by Raj Rajaratnam is a powerful account by a man who was let down by the American Justice System. Convicted of ‘insider trading’, Sri Lankan-born Rajaratnam, the founder of Galleon, the phenomenally successful hedge fund was forced to serve seven and a half years of an eleven-year sentence. He was released in July 2019.Rajaratnam could have avoided the ordeal had he agreed to become a cooperating witness, helping the government with testimony—regardless of the truth—to convict another defendant. Had he chosen this path he might have at worst received a much-reduced sentence and at best given a suspended sentence and be let out on parole.

Continue reading on Colombo Telegraph...
December 20, 2021

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