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Tuesday 2 February 2016

Loud Report: The Organ of Calumny #1

FPM's NoSmokeWithoutFire: Of Reputation

© NSWF:Reputation

Loud report issued from FPM's inception case study named after maxim that "there is no smoke without fire", in terms calumny and reputation for an entity, whether an individual or an institution. FPM's interest in the matter is to present a persistent reminder of historical wrong-doing and associated reputation of capital market operatives. The mainstream media is intent on distracting the public interest with ever-changing newsflow with public-relations dressed up reporting of corporate and white-collar criminality.
A multi-billion dollar hedge fund management operation in America has acquired an inaugural rating and listing in the financial community's calumny and reputation. Point72 Asset Management ("Point72") is now sidelined as an 'investment family office' dealing opaquely in the global social-eco-political order through its capital markets activities. Point72 was previously operating as SAC Capital. a renowned hedge fund operations since 1992. The exile for Point72 is suggested by its dishonourable exclusion as a money manager for public or external capital.
This banishment for Point72 from accepting and managing public money stems from a securities fraud crackdown started in 2007 as "Operation Perfect Hedge". SAC Capital, as it was known then, among others was implicated in illegal "systematic insider-trading". To be clear, insider-trading or insider-dealing is  basically a swapping of illicit professional secrets for mutual benefits. "Illict professional secrets" are formally known as "Material Non-public Information".

A cornerstone judgement involving former SAC Capital employees have set new legal precedents on December 9, 2014. This represents a sneaky time to announce a legal verdict against the interest of capital market integrity  and the public. A major 'hideaway'  news when most people are distracted by seasonal festivities. The United States of America's Department of Justice ("DoJ") and multi-agency regulation enforcers have turned an immense corner in making insider trading harder to prosecute, and thereby letting securities fraudsters off the hook. The precedent was set when an appeal court overturned the insider trading convictions for Newman and Chiasson). 

While the multi-billion dollars business owner, Steven A Cohen, escapes any accusation of wrongdoing or criminality, the business bearing the initials of his name, SAC Capital, settled out of court or simply reached an agreement with the US Justice system to handover more than US$ 2 billion. Some perfidious cynics in the asset management game have laughed-off the matter of multi-billion dollars legal settlement as simply "the cost of doing business". FPM counters that kind of cynicism, which creates an uneven playing field for stock market investors, and undermining of the integrity of the capital markets. We actively campaign under "NSWF-reputation" and dub the investment manager at the centre of SAC Capital as the  "The Artful Dodger" and "The Unconscionable Mr Cohen". Or loud report reputational identity:

Point72 Asset Management’s

Steven A Cohen reputation degree:

 “Disgracefully Dubious Coign”.

Note that "Coign" is a play on nomenclature of the protagonist, and with another meaning to the circumstances. The word means also a cornerstone and keystone. FPM's principals don't allege "palms being greased" between billionaires and professional regulatory enforcers for the sake of some political expediency; we simply present debate and actively campaign against perceived and actual "Corrupt Crony Capitalism at the C-Level".

SAC Capital (now renamed Point72 Asset Management) is awarded NSWF: Disgracefully Dubious Dogma degree.