The news of the college bribe scandal has rocked the United States from Hollywood to Main Street. The issue at hand for investors is to scrub the list and check for names of people that may work at funds. We saw a couple of names that we recognized! This scandal reminds us that due diligence is constant.
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IMDDA NEWS - PRESS RELEASE
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If an operational due diligence (ODD) executive exercised their veto during the pre-crisis golden era of hedge funds, they would typically be shown the exit. The mid-2000s is littered with examples of out of work ODD professionals sacked for simply doing their job and refusing to sign off on an investment they thought was either risky or fraudulent.
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