There is a fine line between what can be considered insider trading and what are simply the everyday risks of executing certain hedge fund strategies, Israel “Izzy” Englander, founder and CEO of Millennium Partners, told attendees at the 2009 Absolute Return Symposium.
“It’s something investors really need to come to grips with; it’s just part of being in that business,” Englander said. Insider trading can be spotted easily in strategies such as fixed income and statistical arbitrage. “Unfortunately, in some strategies it’s a fine line. When it comes to long/short equity I think you have to be very