Hedge fund regulation The wrath of Aguirre

Pequot Capital, a $7-billion Connecticut hedge fund, is under investigation for alleged insider trading. State attorney general Richard Blumenthal claims this highlights the need for greater hedge fund oversight. It doesn’t. Not only is the outcome of the Pequot case far from cut and dried. But insider trading is already well covered by existing laws. The Pequot story is curious to say the least. It involves a former Securities and Exchange Commission lawyer who came to believe that John Mack, ...