Talk:Balyasny Asset Management

Suggestion for Insider Trading Section

Hi, I work for Balyasny Asset Management. I've updated the AUM in the main article to reflect the latest number, but want to bring some ideas to the table to tighten the current insider trading topic. I see that the timeline and investigations may be a bit confusing in the current form, and wanted to propose the following to clarify the events based on the existing sources, and to expand on them with an additional one as well.

In November 2009, Balyasny Asset Management ran an internal investigation focused on a former analyst at the firm who was suspected of passing on insider information about EMC Corporation to a hedge fund manager who pleaded guilty in the Galleon Group case. The firm sent a letter to investors reassuring them that no improper activity had been discovered, and that it had decided to close the satellite office and terminate the individual involved. In 2010, it was reported that Balyasny Asset Management had been added to a group of firms being examined in a wide-ranging investigation into insider trading led by the government, relating to the Galleon case.

The 2010 investigation yielded no outcome, but there aren’t any news sources that address this.

References

I'd be interested in hearing the community's thoughts on these points and am pinging Imcdc who created the original article and may be interested in weighing in. Thank you, Dorset Wilts (talk) 13:53, 22 June 2023 (UTC)

The proposed additions offer only the company's statements to investors "The firm sent a letter to investors reassuring them that no improper activity had been discovered." and the description of the beginning of an investigation whose end no one apparently reported on. If nothing else, Chicago's court website ought to have information on the outcome of this investigation seeing as how it took place there. (U.S. Attorney Preet Bharara lead the probe.) If that's all there is, then I don't see why it couldn't be added to the article to at least give that paragraph some sense of closure (but not the company-issued pronouncements). IMHO a search of publicly-available court documents should get underway to see what can be found. Regards,  Spintendo  22:54, 1 July 2023 (UTC)

Spintendo, my goal in the suggested addition was to offer more detail including the sequence of events. I've added information about the internal investigation and clarified that Balyasny was one of a group of firms being examined in a larger government-led probe. While the investigation referenced was an internal one, it was covered by the NY Times. Regarding your question on the Bharara probe, it seems the investigation did not go to court (and as such there would not be any record of closure through the court's website due to confidentiality policies). Given this, would you be able to implement the request which provides the necessary detail and clarity, as well as a proper timeline of the events? Appreciate any assistance you can offer. Thanks, Dorset Wilts (talk) 14:06, 31 July 2023 (UTC)

@Dorset Wilts Given the New York Times reporting I think this could be included but the proposed text should also include a quote from the company's statement that although an internal review of communications found nothing improper, the company decided to consolidate the office and terminate the individual involved. Let me know your ideas on this. Regards,  Spintendo  17:09, 14 August 2023 (UTC)

Hello Spintendo and my apologies for the delayed response. That sounds fine, I've incorporated that into the original request. I've also made three small tweaks and replaced a WSJ source to enhance the clarity. Thanks again, Dorset Wilts (talk) 15:31, 25 September 2023 (UTC)

@Dorset Wilts No apologies are necessary for the delay. I'm going to go ahead and reactivate your original edit request template so that other editors can have a look at this also, in case I don't get to it first. Thanks for your help! Regards,  Spintendo  16:51, 16 November 2023 (UTC)

 Done - if you do find any sources that address the outcome in the future feel free to reopen this request or create a new one. Lewcm Talk to me! 08:45, 23 November 2023 (UTC)

Updates for Background Section

Hi, I have taken over for my colleague Dorset Wilts. The following are suggestions for updating the Background section of the article:

• In the first paragraph, the timing in the second sentence should be clarified as follows:

It traded mostly long/short equity which, as of 2020, accounted for 70% of the firm's risk.

• Please add the following to the end of the section:

In 2023, Balyasny opened an office in Dubai. That same year, the firm switched to longer "lock-ups" for investors' capital, ensuring a minimum of two years for withdrawals.

In June 2023, the firm released its own version of ChatGPT to its employees, and in January 2024, it was reported that the hedge fund was building an AI equivalent of a senior analyst.

In December 2023, the company said that more than half its assets under management were diversified into strategies including early stage investing, commodities, and macro.

In 2023 and 2024, the firm added new partners. As of March 2024, it had 23 partners.

References

I have also updated the AUM in the article. Pinging Encoded since you assisted with the previous edit request. Thank you, Popcorn388 (talk) 09:48, 7 May 2024 (UTC)

 Done as requested - In future I'd recommend adding the {{edit coi}} template to the top of your request, it can help your request be seen sooner if the people you ping are unavailable at the time. Thanks, Encoded  Talk 💬 07:38, 8 May 2024 (UTC)

Thank you very much, Encoded. Popcorn388 (talk) 08:40, 20 May 2024 (UTC)