Word: trader
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...Currency Trader Randall Holland, the first working day of 1988 started last Monday with an urgent 2 a.m. phone call from Tokyo. Jolted out of bed, Holland, who works for Wall Street's Donaldson, Lufkin & Jenrette, listened groggily as an excited colleague in Japan reported that the U.S. dollar was moving in a sharp and startling new direction: upward. Skeptical of the currency's mysterious strength, Holland gave orders to sell part of the firm's dollar holdings, then went back to sleep. At 4 a.m. the phone jangled again. This time it was a London colleague calling to report...
After 13 months of anticipation and delays, Wall Street's most spectacular speculator -- and insider trader -- finally heard his fate. Hands clutched behind his back, Ivan Boesky, 50, listened pensively while U.S. District Court Judge Morris Lasker told a packed courtroom in Manhattan, "Criminal behavior such as Boesky's cannot go unchecked. Its seriousness was too substantial merely to forgive and to forget." With that the judge sentenced the onetime superstar investor to three years in prison for his role in the largest insider-trading scandal in history...
...spotlight will be back on the scandal once again this week, when the biggest insider trader snared so far, Ivan Boesky, is scheduled to appear in U.S. District Judge Morris Lasker's Manhattan courtroom for sentencing. Boesky, who has been pointing investigators toward investment bankers and others with whom he traded inside information, faced Judge Lasker last week in a final hearing before sentencing. Once Wall Street's most aggressive speculator in takeover stocks, Boesky was a picture of contrition in court. "I am deeply ashamed," he said. "I have spent the last year trying to understand how I veered...
...music room from a turn-of-the-century house in Southampton, N.Y. Cost: $30,000. Antique porcelain bathtubs, which can fetch $1,500 each, are the most popular items. Daniel Kasle, 34, the company's affable chief operating officer, who gave up a lucrative career as a foreign-exchange trader to indulge his passion for old sidewalk grates and theater seats, gives the stuff an uptown moniker. He calls it "high-end architecturals for adaptive reuse...
...trading cases. The nearest thing to a definition is a provision in the Securities Exchange Act of 1934 that prohibits using a "manipulative or deceptive device" in connection with the purchase or sale of a stock. In recent years, prosecutors have developed their own broad definition of an insider trader: almost anyone who uses information he knows to be confidential to make a profit from the stock market. This applies not only to corporate officers but to lawyers, investment bankers and others who do work for companies and frequently have access to inside information...