December 1, 2009

• <No wonder they have Sub-Prime etc. crises in US>

  Last week, I read in a bloomberg article. As the article is very long, I extracted the most important parts, being the first few paragraphs :

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  Woman Who Sank Galleon Was Beauty-Queen-Turned-Analyst Insider
  2009-11-23 00:01:00.12 GMT

  By Anthony Effinger, Katherine Burton and Ian King

      Nov. 23 (Bloomberg) — Danielle Chiesi spent a lot of time in hotel ballrooms and bars during the past decade.

      As an analyst at New Castle Funds LLC, a New York hedge fund firm that manages about $1 billion, she was a regular at conferences on technology stocks, where she could get face time with executives and press them on how many microprocessors and how much software they were shipping that quarter.

      Chiesi wore short skirts and low-cut tops, according to people who saw her over the years. One ploy was to go barhopping with a group, and then peel someone off to talk to on the dance floor, says a person who attended conferences with her.

      A blond, blue-eyed former teenage beauty queen, Chiesi used her sexuality to build sources at male-dominated tech companies, says Deborah Stapleton, president of Stapleton Communications Inc., an investor relations company in Palo Alto, California.

      “It amazes me that grown, wealthy, successful, hardworking men fell for that,” Stapleton says. Chiesi was proud of her network, too. “She bragged about her contacts in public,” Stapleton says. “She was like a teenager who wanted everyone to know she knew some rock star.”

      U.S. authorities say Chiesi, 44, crossed the line in her pursuit of secrets. They charged her and 19 others with securities fraud in the largest insider-trading case prosecuted since the 1980s, when stock market arbitrager Ivan Boesky paid a $100 million fine and spent three years in prison.

  [rest of the article is skipped]

  source : bloomberg

  ———

  So my curiosity prompts me to google the picture for Danielle Chiesi, which is shown below.

  Note : Readers may find the picture disgusting

  

  We are not talking about US$100, but probably ending with a million after that. So you depend on the senior management in high-tech companies, who are basically blind, to make investment decision for you.

  God Bless America. God Bless Wall Street and Main Street.

  • 4:15 am
  • 2 Comments