MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, August 24, 2009 Goldman "Trading Huddle" Benefited Janus Shares Shares of Janus received a push from a "trading huddle" at Goldman Sachs in April of 2008. The revelation that Goldman told clients that Janus shares were a good buy despite the firm's published "neutral" rating was made by the Wall Street Journal. The article explores Goldman's practice of sharing short term stock outlooks with its top clients and internal traders prior to publishing the analysis in its written reports. The paper reports that Goldman research analyst Marc Irizarry told "dozens" of Goldman traders that Janus shares were about to rise during an April 2, 2008 meeting. The following day, employees at Goldman's research department phoned about "50 favored clients" with the changed opinion, according to the paper. Goldman published Irizarry's written report six days later. From the time of the first "huddle" with Goldman's research team and clients until the report was published, Janus shares jumped 5.8 percent. Printed from: MFWire.com/story.asp?s=22419 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |