Hedge Funds

Former Canary trader starts timing fund


Market timing is far from dead. In fact, former Canary Capital trader Andrew Goodwin these days is running a BVI-based market-timing fund called Rivenoak. Goodwin was a key government informant in New York State Attorney General Elliot Spitzer's case against Canary Capital that later expanded into a widespread investigation of market timing abuses and afterhours trading of mutual fund shares by hedge funds. Although timing markets is not illegal, most larger hedge fund shops have left the arena entirely to avoid the perception that they bear any resemblance to funds that engaged in illegal afterhours trading and abusive