Salient to Investors:

No U.S. law prevents a convicted felon from managing a hedge fund, as long as that person isn’t required to be registered under the Investment Advisers Act.

Wall Street crooks either get rich by cheating their clients or by cheat for their clients.

The stock market is soaring yet the only thing keeping the financial system alive is empty speeches from the Italian central banker.

The standard hedge-fund-industry fee is 2 percent of assets and 20 percent of annual returns.

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