UnTRustworthy – Bloomberg

I guess one trade you could do is, like, you incorporate a company called Renaisssance Technologies LLC, and you register a domain like rentech.com, and you send out letters to a bunch of big institutional allocators and high-net-worth individuals saying “good news, Renaisssance Technologies is opening its prestigious Medalion Fund to a few selected investors, you are one of them, wire us some money, the fees are 5 and 50.” All of the typos in that sentence are intentional. And some people who get the letter miss the typos and think that Renaissance Technologies is opening its prestigious Medallion Fund to them, and they wire you $100 million, and then you have $100 million. You could steal it. Or, much better, you could invest it in a diversified portfolio of stocks and keep 5% of the assets plus 50% of the gains for yourself. Stealing it is a crime; investing it and charging the fees that you agreed to is … I mean … I don’t recommend it, but it’s an interesting idea.

Is it? Is this a thing? We talk sometimes around here about people who put out fake press releases announcing fake mergers, and sometimes the fake buyer is like KRK & Co. or Carlisle Group or Cerebrus or Blackst0ne or whatever, but I don’t think I’ve ever heard of someone intentionally creating a confusing company name to try to solicit investors. Until now!….

Source: UnTRustworthy – Bloomberg