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"And the floor of the exchange is littered with former funds and traders who tried to bet against fundamentals and failed".
On October 31st, both were replaced, after failing to produce satisfactory returns in recent years.Whether this will boost the performance of their former funds will interest not only Fidelity but all companies that try to manage a lot of money actively not to mention their investors.
Schonberg's former funds took losses in a couple, made a bit of money in one and were bagged big in three.
According to an informed source, it wasn't until May and June, after he was demoted, that his former funds finally bailed out of most of their Macrochem stock, getting about $9 to $12 for the shares.
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He is not a former fund manager.
My former funding is one classy amount of funding, I'll say that.
Lars Liebeler, a lawyer in Washington who represents the former fund executives, described the fund's claim as groundless.
In the past Tony Rezko, a convicted former fund-raiser, tried to use the teachers' fund for extortion.
And Peter Lynch, the legendary, puff-haired former fund manager is still Fidelity's public face.
A former director of the fund, Harold E. Doley Jr., an investment banker, said that its terms appeared to favor the three former fund insiders.
GSC might have avoided bankruptcy by trimming its sails and working harmoniously with creditors, some former fund officials say.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com