(Bloomberg) -- The sudden death of a Toronto-based hedge fund manager has prompted an investigation into tens of millions of dollars in losses that the fund ...
-- The sudden death of a Toronto-based hedge fund manager has prompted an investigation into tens of millions of dollars in losses that the fund appears to have run up.The Ontario Securities Commission issued a temporary order to freeze trades by Traynor Ridge Capital Inc. as the regulator probes its financial condition. A series of failed trades involving the hedge fund has saddled three brokerage firms with losses totaling C$85 million to C$95 million , the regulator said in an Oct. 30 filing.
Callahan on Oct. 24 agreed to settle the trades — in other words, to pay Virtu for the securities — but the firm “has not taken any steps to do so,” Virtu said in its filing. “It appears to the Commission that Traynor is in serious financial difficulty,” the Ontario securities regulator said in its filing. “Further investigation of these events is required.”Callahan graduated with an economics degree in 2014 from Queen’s University, about a three-hour drive from Toronto, and quickly went into a career in finance, according to his LinkedIn profile.
Shares of Curaleaf tumbled 35% in Toronto during the month of October while Cresco fell 34% and Cannabist plunged 58%. Steve Ballmer joined Microsoft in 1980 as Bill Gates' assistant, became CEO in 2000, and retired in 2014 with a 4% stake that's worth a fortune today.Are you looking for stocks to buy before the next bull market? Here are two top picks! The post A Bull Market Is Coming: 2 Spectacular Growth Stocks to Buy Now and Hold Forever appeared first on The Motley Fool Canada.
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