All posts by hollyhood

24-Year-Old Arrested For Stealing Confidential Bridgewater Documents

When it comes to hedge fund paranoia, few can hold a light to the world’s undisputed leader: Ray Dalio’s Bridgewater – the former employer of current FBI director James Comey – which in addition to maintaining absolute secrecy about its operations, policies and culture, and vigorously pursuing anyone who disseminates Dalio’s famous morning notes, has relentlessly sued any former employees who breach the company’s notorious non-compete. And now, Bridgewater has lashed out at a 24-year-old computer contractor from Hamden, whom it accuses of stealing confidential documents.

Sankaranarayan Subramanian, a consultant working on-site at Bridgewater who was employed by an outside firm, was identified as the alleged thief.

According to the Hamden Patch, authorities began investigating the theft of “confidential Bridgewater IT configuration documents” from the company’s 1 Glendinning Place headquarters in November of last year. 

Bridgewater IT Security determined that Subramanian had emailed himself, on several occasions, multiple confidential Bridgewater IT documents from his Bridgewater email account to his personal email account without authorization,” wrote Westport police in a statement.

“Subramanian intentionally and without authorization made copies (in the form of print and email data transfer) of data residing in the Bridgewater Associates computer system and by taking data intended for the use by that computer system.”

This is similar to the accusation that was lobbed by Goldman at its HFT programmer Sergey Aleynikov in 2009, who was fired, and spent years in prison, and who to this day is fighting the charge of corporate espionage despite being exonerated on at least one occasion.

As the Patch adds, police obtained a warrant for Subramanian’s arrest, and on March 23, Westport detectives arrested him at his Hamden residence.

The charge? E-Crime of the First Degree which includes Theft of Computer Services. Subramanian was released on a $100,000 bond and is scheduled to appear in Norwalk Superior Court on April 3.

It is unclear what documents the young consultant may have “stolen”, copied, or emailed himself. The company’s unprecedented secrecy has in recent months prompted some fringe speculation of impropriety surrounding Dalio’s investing operation.


Source: Zero Hedge

Despite Soaring Rates, US Home Prices Accelerate At Fastest Pace In 3 Years

US Home Prices rose at 5.7% year-over-year in January, according to the latest data from Case-Shiller. This is the fastest rate of price appreciation since July 2014.

The six-month lagged response to the surge in mortgage rates suggests things may be about to slow down dramatically though…

 

Las Vegas, Seattle, and San Diego led the monthly gains while Cleveland, Minneapolis, and Detroit saw a slowdown.

Most notably, San Francisco saw the biggest price drop in a year.


Source: Zero Hedge

SNAP Cracks As Facebook Adds "Stories"

Three words… “barriers to entry”

After soaring yesterday on the back of an upgrade-fest from Wall Street, Snap shares are down 3% in the pre-market, paring earlier gains, as Bloomberg reports that Facebook adds “Stories” feature to its mobile app, letting people post pictures and videos that disappear after 24 hours.

As Bloomberg reports, Facebook is making a dramatic change to the social network’s mobile application, letting people post pictures and videos that disappear after 24 hours. Dramatic, but unsurprising—it’s the fourth time the company has added such a feature to its apps. And it’s a tool that was invented by its smaller, newly public competitor: Snap Inc., whose Snapchat lets users annotate photos and videos by adding text, drawings, masks and filters and then post them to their “story” or send them to friends. Facebook added the same capability in recent months to its Instagram, WhatsApp and Messenger mobile apps, seeking to capitalize on the popularity of the format to keep people on its properties rather than toggling over to Snap’s network. Yet Facebook doesn’t shy away from the comparison—and is calling the new version on its main application “Stories,” too—just like Snapchat’s version.

“This is something that Snapchat has really pioneered,” said Conor Hayes, a product manager at Facebook. “Stories has become a format for people to share and consume immersive video and photo across all social apps, and it really differs for them based on the network they have or the way that they use a certain app.'”

Some more details on Stories from the Verge:

The company first introduced a clone of Snapchat stories in August with Instagram, reflecting the company’s belief that camera-based messaging represents the future of social interaction. Facebook Messenger was next, and testing began inside Facebook’s flagship app in January. WhatsApp rolled out a version in February.

 

As on Snapchat, Facebook stories consist of photos and images that disappear 24 hours after they are posted. You can decorate your posts with text, drawings, stickers, and Snapchat-like animated filters. While the basic suite of creative tools is the same across Facebook’s products, the flagship app’s stories have a few twists of their own. It’s the first Facebook app to get animated face filters, for example, and the company worked with artists Hattie Stewart and Douglas Coupland to design original filters for the app.

Luckily, SNAP is a camera company, so has nothing to worry about…


Source: Zero Hedge

Chinese Man Shot Dead In Paris By Police, Sparking Riot, Beijing Protest

A fresh diplomatic scandal has erupted after a Chinese man was shot dead by police at his Paris home, triggering rioting in the French capital by members of the Chinese community and an angry reaction from Beijing. The shooting which took place on Sunday brought 150 members of the French-Chinese community on to the streets in Paris’s main Chinatown district on Monday night, resulted in the detention of 35 people, and led China’s foreign ministry to summon in a French diplomat.

Local media said the police were called to solve a domestic dispute on Sunday night and a Chinese man was shot dead by the police after he stabbed a policeman. A staff member of the police station in Paris’ 19th District told reporters that the policeman would have been killed in the attack if the officer had not been wearing a bullet-proof vest. A second policeman on scene who witnessed the stabbing is said to have fired the fatal shot.

However, reporters from Chinanews.com got a different story from one of the man’s daughters who was at the site when her 56-year-old father was shot dead. She said that the police broke into their home and immediately opened fire after seeing her father holding scissors. She said her father was using the scissors to prepare fish. Moreover, she added that her father, being only about 160 cm (5.2 feet) in height, was almost knocked over by the police after they broke into their house.

After the shooting, some Chinese protesters threw projectiles outside the district’s police headquarters and a number of vehicles were torched in a confrontation with riot police.

China Plus adds that 35 people were detained by police in Paris after around “150 members of the Asian community” gathered near a local police station late Monday local time to protest the death. There officers were reportedly slightly injured and at least one man of Chinese origin was also injured in the protest.

The Chinese Foreign Ministry responded on Tuesday that it had lodged representations with officials of the French Embassy in China and urged the authorities in France to take practical and effective measures to protect the legal rights and wellbeing of Chinese citizens. It also sought a thorough investigation by French authorities and steps to be ensure the safety of Chinese citizens in France.

The Foreign Ministry said that it will pay close attention to the development of the incident in Paris and hoped Chinese people in France express their appeals in a proper and legal manner.

The French foreign ministry said in a statement that an inquiry was under way into the shooting and added that the security of Chinese citizens in France was a priority for the national authorities. “Additional (security) measures have been taken in recent months and everything has been done to provide them with the best conditions for living here and for their security,” it said.

So far, local police have cordoned off the site of the incident and the man’s wife and 5 children are temporarily staying at a hotel. It’s been reported that the testimonies of the man’s daughters will be heard on March 28. Local Chinese associations issued an appeal to Chinese communities to remain calm and refrain from protesting before the results of the police investigation were unveiled.


Source: Zero Hedge

House Intel Committee Cancels All Meetings For The Week: "Playing An Absurb Political Game"

Amid the aggregate Left's demand for House Intelligence Committee Chairman Nunes to recuse himself from the Trump-Russia probe (for discovering facts about Trump being "inadvertently" spied upon by his own intelligence agencies), The Hill reports that the Committee has canceled all its meetings for the week.

The full committee meetings were canceled amid an increasingly tense back-and-forth that intensified over Chairman Devin Nunes' decision to cancel a public hearing set for Tuesday, two sources on the committee told CNN.

Democrats believe he is too close to the White House to lead a thorough investigation into Russia — including ties between the Trump camp and Russian officials — an assertion firmly rejected by the GOP.

 

Lawmakers, including House Minority Leader Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer (D-N.Y.), called on Nunes to step aside from the investigation after the chairman said he visited White House grounds to view classified intelligence one day before briefing President Trump last week.

 

"I don't think he can just recuse himself and still chair the committee," Rep. Jackie Speier, a Democrat on the panel, told CNN's Chris Cuomo Tuesday on "New Day." "I think that the writing is on the wall. It might make a good spy novel. It doesn't make a good investigation."

The decision to scrap this week's meetings shows that the panel is facing serious turmoil and questions about whether it can proceed.

Finally, we note that The Hill reports that Nunes' communications director said Monday evening that the chairman will not recuse himself, saying lawmakers asking him to do so "are playing an absurd political game."


Source: Zero Hedge