![]() ![]() Like all profitable hedge funds, investors poured their money into Galleon Group, and Rajaratnam managed $7 billion dollars in 2008. But he was profitable even when the tech bubble burst in 2000. ![]() His impressive returns in the 1990s are no surprise since he specialized in tech stocks. This 16-year streak of positive returns is quite remarkable, rivaling that of Bill Miller at Legg Mason Value Trust. Rajaratnam’s hedge fund was tremendously successful, never having a losing year until 2008. In 1992, he formed his own hedge fund that would eventually become the Galleon Group. From there, he rapidly rose the finance ranks, with stops at Chase Manhattan Bank (now part of J.P. His family moved from Sri Lanka to England when he was 14, and he got his MBA from Wharton in 1983. Until his dramatic fall in 2009, Raj Rajaratnam was an immigrant success story. It illustrates that the stock market is not always a level playing field, and trying to beat the market means competing against traders on Wall Street’s version of performance-enhancing drugs. ![]() In this fourth installment of my Wall Street Profiles series, I profile Raj Rajaratnam, the billionaire hedge fund manager at Galleon Group who was sentenced to 11 years in prison for insider trading in 2011. ![]()
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