×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: jim grant | mea | culpa | bridgewater | disputes | claims | call

Jim Grant Issues Mea Culpa After Bridgewater Disputes Claims on Call

Jim Grant Issues Mea Culpa After Bridgewater Disputes Claims on Call
Jim Grant (AP)

Friday, 13 October 2017 04:50 PM EDT

Jim Grant, editor of Grant’s Interest Rate Observer, said he made mistakes in a report last week on Bridgewater Associates in which the newsletter criticized the firm for possible conflicts of interest and lack of transparency.

“Bridgewater is a secretive and eccentric firm,” Grant said in an interview on CNBC on Friday. “I let my suspicions of that get in the way of our ordinarily comprehensive due diligence at Grant. I regret that.”

Grant made the televised comments after Bridgewater’s top executives held a conference call with investors Friday to dispute assertions in the Oct. 6 issue.

Grant said he was wrong to question the firm’s relationships with auditor KPMG and Bank of New York Mellon Corp., and the lack of prime brokers for many Bridgewater funds. On their call, the Bridgewater executives said Grant’s claims were wrong, said a person familiar with the discussion.

A Bridgewater spokeswoman had no immediate comment but on Thursday the firm told Institutional Investor that Grant’s reporting “is devoid of proper fact checking, lacks a basic understanding of the rules, regulations and processes of the securities industry, and is demonstrably false.”

© Copyright 2024 Bloomberg News. All rights reserved.


InvestingAnalysis
Jim Grant, editor of Grant's Interest Rate Observer, said he made mistakes in a report last week on Bridgewater Associates in which the newsletter criticized the firm for possible conflicts of interest and lack of transparency."Bridgewater is a secretive and eccentric...
jim grant, mea, culpa, bridgewater, disputes, claims, call
187
2017-50-13
Friday, 13 October 2017 04:50 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved