May 20, 2009

Bradley Ruderman: What's wrong with this picture?

Beverly Hills hedge fund manager Bradley L. Ruderman surrendered to FBI agents.

That is the tag line of most every wire house that has put out a release.

Bradley L. Ruderman was a con artist. It seems from the civil suit filed by the Securities and Exchange Commission, he convinced people that he had an investment strategy and proceeded to take their money and spend it on himself. This makes him a con artist.

Cynical jokes aside, this does not make him a hedge fund manager. It seems the press is hell bent on implying that he was a crooked hedge fund manager. If he posed as a prominent Surgeon and proceeded to murder people, would the press print that " a prominent Surgeon was arrested for murder"? Should we then be led to think that Surgeons are evil?

Bradley L. Ruderman was a con artist. He convinced some people he was a hedge fund manager. But more fundamentally, he convinced the entire media outlet that he was a hedge fund manager.

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