MIT Academic, Harvard Educated Money Manager Guilty of Fraud

Those inside the hedge fund business are all too familiar with the strategy of loading up a hedge fund with academic heft for marketing purposes, but failing to deliver when it comes to core insight into a trading strategy that can significantly beat the “beta” of the market. In fact, hedge fund insiders are known to consider questionable performance results that delivers profits across all market environments and fail to experience negative drawdowns or downside volatility.

Money manager Gabriel Bitran committed securities fraud

Such knowledge was apparently devoid with investors who lost nearly $140 million to fraud involving GMB Capital Partners. The father and son founders of GMB, a former associate dean at the prestigious Massachusetts Institute of Technology (MIT) Sloan School...