Indeed, he remains proud of the economic contribution made by the investment bank through raising capital; and he even brings up in a nice touch of the Gekko the gains from restructuring poorly performing firms.Hostile takeoverIn trading, timing is everything.
"There are a lot of other factors that are important to industry trade, like timing and product availability," he says.
The financial system has been wounded by a flood of so-called innovations that merely promote hyper-rapid trading, market timing and shortsighted corporate maneuvering.
Those disclosures include late trading, market timing and overcharging customers who invest considerable sums but are denied volume discounts on sales charges.
"If you knew that late trading and timing was going on five years ago, why didn't you blow the whistle?" one potential client asked Mr. Navellier at his recent North Carolina luncheon.
Since last September, the SEC has made 16 rulemaking proposals designed to rein in some of the loopholes that permitted late trading, market timing and a gross failure by certain fund boards and employees to fulfill their fiduciary duties.
In other news, two UBS financial advisors have been fired and nine others are facing disciplinary action, after an internal probe into mutual fund trading activity revealed market timing trades.
The complaint said Mr. Beeson helped Canary engage in a form of trading called market timing, or the rapid trading in and out of mutual funds.
However, study after study has shown "that most active managers fall short of their benchmarks because of the higher fees, trading costs, and timing errors associated with frequent trading".
This may not have been an explicit trade, but the timing of the two announcements certainly makes it seem that way.
