QOTD: Whiff of an Investigation . . .

Quote of the Day:

“If I get even a whiff of an investigation, I want to get out before the next guy, especially if I know they have illiquid stuff or I don’t know what they have. Everyone’s nightmare is to get stuck with the stuff in the basement.”

-Head of a fund of funds, speaking to the FT.com anonymously.

This SEC investigation promises to be quite interesting . . .

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See also:
SEC switches to undercover tactics (FT.com)

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