What are we to make of the ability of hedge-fund managers and other influential investors to manipulate the market with impunity and make millions of dollars doing it?
The question was raised anew on Feb. 16 after news broke that Daniel Loeb of Third Point LLC had sold a portion of his 8.9 million shares in Herbalife Ltd. (HLF) Loeb’s action, while perfectly legal under current law, deserves a thorough review by the Securities and Exchange Commission -- which is supposed to protect small investors in the capital markets -- and its next likely chairman, Mary Jo White.
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