Matt Levine, Columnist

Hedge-Fund Son Thought Hedge-Fund Dad's Trades Were Pretty Fishy

It's a sweeping saga of alleged insider trading that spans three generations.

September 21, 2016 at 8:45 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Some little boys and girls like ice cream, and some like pony rides, but all little boys and girls love it when bonds that they own rise 7 percent due to asset sales that improve the issuer's credit standing. Making a quick event-driven profit in the bond market is like Christmas and a trip to Disneyland combined, for a child.