Examination of the Securities Industry, Stock Selection, and Portfolio Management
Mike NguyenVice President, Los Angeles
I supported Patricia Chadwick in analyzing the investment decisions made by Alliance Capital Management's portfolio manager. We demonstrated that ACM’s portfolio manager did not deviate from his stated investment strategy, a strategy that he had successfully followed for more than 17 years in managing the FSBA portfolio, when he selected Enron as an investment. We also demonstrated that the fraud committed and concealed by Enron executives prior to its collapse could not have been known by the market.
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