worked at Global Hunter Securities full-time
Pros – Jocular / fraternal jr. experience
Fun people to work with, at the jr. level
Drinking / bar crawl breaks mid-afternoon / mid-week when slow
Work hard / play hard is defined here
Cons – Bank-wide Criticism
Nepotism on an almost outlandish level
Under-qualified in industry niche
Deal / fees first, client second
History of questionable broker practices (see China Media Express)
Difficulty closing larger mandates, routinely attempt place securities w/o adequate sales coverage
Past clients have issued securities ultimately disruptive and costly to their capital structure
"A lot of the time, we're the last stop before chapter 11,"
"GHS, where deals go to die,"
Jr. Level / Experience Criticism
Jr. bankers terminated / let go when sr. bankers unable to close deals to support P&L
Long hours on fruitless deals
Exit options almost non existent
Little to no credibility / "prestige"
Unprofessional work environment
If you're not from the South, uphill battle at times culturally
No training program for first years
"Working closely with MD's," is sales pitch during recruiting, very difficult dynamic in practice
Little to no exposure to aspects of traditional banking corporate finance sans hybrid debt deals
Advice to jr. level person joining, keep looking or go to grad school
Advice to Senior Management – Improve standing and reputation with prospective clients, acquire sr. talent that have report and actionable industry contacts to diversify product capability aware from costly, high risk debt / and hybrid equity mandates.
No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company
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Took position opposite their clients.
He was discharged for allegations of Securities Fraud.
Marty Teevan, head of trading at Global Hunter Securities LLC, sued his former employer, Cantor Fitzgerald LP, in a contract dispute.
Teevan, who left Cantor in September 2010, filed a sealed complaint in Delaware Chancery Court in Wilmington yesterday. He accused the New York-based brokerage firm of a breach of contract, according to documents submitted with the complaint.
Lawyers for Teevan asked the court to seal the complaint because it includes Cantor’s partnership agreement, which includes a confidentiality obligation, according to court records.
Teevan, who was hired by Ticonderoga Securities LLC in March, joined Global Hunter in September with three other Ticonderoga bankers. Ticonderoga had shut down its fixed-income business in August, six months after starting the unit, as trading volumes shrank.
Cantor doesn’t comment on litigation, spokesman Robert Hubbell said in a telephone interview.
The case is Teevan v. Cantor Fitzgerald LP, CA6976, Delaware Chancery Court (Wilmington.)
To contact the reporter on this story: Sophia Pearson in Philadelphia at
They botched the hell out of RINO and CCME... Not sure how much credibility they have left.
Just G O O G L E it
The price of gas at the pump is at its lowest level of the year, hitting an average $3.28 per gallon last Monday. Growing oil supplies sent futures down $5.95 per barrel in October to $96.38.
G O O G L E the rest.
By Ilan Moscovitz | More Articles | Save For Later
January 31, 2011 | Comments (21)
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of China MediaExpress (Nasdaq: CCME ) plunged today on high volume, after Citron Research opined the stock was "too good to be true."
So what: Citron asserted that China Media's growth and profits -- on a similar order as Focus Media's (Nasdaq: FMCN ) -- are implausible given the company's much smaller expenditure base. It further alleged that China Media is a "phantom company" that is conspicuously absent from local media coverage, industry reports, and analyst coverage, in contrast to names like Towona, Bus-Online, and VisionChina Media (Nasdaq: VISN ) .
Now what: Citron has been…
A week ago when we summarized the most recent round of inbound humiliation by one alleged bucket shop known as Global Hunter Securities, which basically has a buy recommendation on every single reverse merger ever to come to the US, even the acknowledged frauds such as in that particular case CCME, we said:"Oh well - at least we can be certain next week's non
seasonally adjusted initial claims number will be at a minimum one (The
Seasonally Adjusted can well be negative - it is from the BLS after
all)." We were referring of course to the imminent termination of the sellside analyst covering CCME Ping Luo. You can therefore pardon our lack of astonishment when we read, literally minutes ago, the following release from Global Hunter: "We are discontinuing coverage of the following companies: AMCN,CCME, CHLN, CRTP, CVVT, HRBN, and SDTH. We are discontinuing coverage of these companies due to the departure of our analyst and due to a shift in our resources to other areas in the China space." Well, since we predicted the former, it was more or less expected, but we wonder what "other areas" in the China space has Global Hunter morphed to: will they soon be covering an as yet untought of pyramid scheme with a Turbo Buy? Or do by other areas do they actually mean perform due diligence instead of stamping everything that promises a coverage fee with a Buy rating. Which brings us to the topic of this post. Since Gobal Hunter's advisory reputation is smoldering in the sewer, we believe it is time to voice our own unsolicited advice, and tell readers to short every single company on Global Hunter's buy list. If today's example of DEER is any indication, the profit will be at least 20% in the span of a few weeks.
As readers know, we already discussed today's unexpected "discovery" by the analyst community that DEER (NASDAQ: FRAUD) is the latest stock to likely meet its reve
aw360, Los Angeles (July 08, 2013, 9:59 PM ET) -- Underwriters of a $40 million offering of shares in China's Yuhe International Inc. urged a California federal judge on Monday to toss a putative investor class action, saying they made no material misstatement about the company's chicken-farming operations in a prospectus.
The underwriters — Roth Capital Partners LLC, Brean Murray Carret & Co. LLC, and Global Hunter Securities LLC — argued they could not be liable for misleading investors because there was no material difference between Yuhe's “expertised” annual audited financial statement for the period ended Dec. 31, 2009, and the prospectus supplement that was filed with the U.S. Securities and Exchange Commission in October 2010.
The allegedly false statement in the prospectus that five of the 13 breeder chicken farms Yuhe had recently acquired for $12 million had begun operations was “ancillary to what was part” of the annual report released in March 2010, the underwriters' attorney John Loftus said at a hearing on Yuhe's motion to dismiss investors' claims of securities fraud.
Global Hunter Securities, LLC (CRD #123003, New Orleans, Louisiana)submitted a Letter
of Acceptance, Waiver and Consent in which the firm was censured and fined $150,000.
Without admitting or denying the findings, the firm consented to the described sanctions
and to the entry of findings that it failed to establish and maintain an adequate system
for supervising written communications of associated persons conducted in a foreign
language, because the firm lacked supervisory personnel with fluency in that language
when certain aspects of the firm’s research and investment-banking businesses involved
written communications in that foreign language. As a result, the firm lacked the ability
to effectively monitor those communications. The findings stated that the firm failed to
establish and maintain an adequate system for monitoring employee trading activity in
accounts held at other FINRA member firms. The firm failed to enforce its own procedures
requiring newly hired personnel disclose their outside brokerage accounts, and failed to
adequately monitor employee trading activity in such accounts. As a result of this failure,
the firm failed to identify improper trading activity by a member of its research department
in an account held at another FINRA member firm. The findings also stated that the firm
did not have an information barrier program reasonably designed to detect and prevent
employee misuse of material, nonpublic information. The New York Stock Exchange (NYSE)
and FINRA issued a memorandum, Joint Memo 91-45, explaining the minimum elements
of adequate information barrier policies and procedures, including but not limited to a
watch/restricted list. The firm maintained a restricted list but did not maintain the list in
the manner required by the firm’s own procedures or by the Joint Memo 91- 45. The firm
did not adequately monitor employee trading activity in accounts held at other FINRA
member firms for transactions involving securities listed on the rest
NEW YORK (TheStreet) -- A research analyst who had long defended China MediaExpress (CCME), the Chinese advertising company now embroiled in a developing fraud scandal, has left her position at Global Hunter Securities.
A spokesman for Global Hunter confirmed that the analyst, Ping Luo, had departed as of Friday, but he wouldn't say whether she had resigned or been fired. He declined to comment further.
Global Hunter suspended its coverage of China Media on Tuesday.
China Reverse Takeover Stocks (RTOs)
RSS Feed for China Reverse Takeover Stocks (RTOs)
TheStreet reports on the unique world of China reverse takeover stocks and the losses investors have suffered in these investments -- the following stories are part of TheStreet's special investigative series, The Shanghai Numbers.
For many small retail investors who followed well-known investors into China, lulled by the highly flawed logic that sophisticated market players "must have done their due diligence," financial ruin has come.
Unable to Verify Customer Mentioned in Global Hunter Report on China MediaExpress 243 comments
Feb 25, 2011 5:25 AM | about stocks: CCME
(Update: see also "2008 China MediaExpress Ad Raises Questions")
On February 17, in a rebuttal to some of the negative claims recently made against China MediaExpress (OTCPK:CCME), Global Hunter Securities issued a new research report by its analyst Ping Luo. This latest report is follow-up to earlier reports on CCME by Ping Luo and describes, among other things, her latest review of the company's bank account statements, tax filings, customer contracts, and interviews with customers, during her visit with the company in China.
Regarding the interviews with customers, the report states:
In addition to talking to CCME’s direct customers, we called China Telecom Jiangsu Branch, as well as the exclusive advertising agencies for Coca Cola and L’Oreal in the Shanghai region, who are CCME’s indirect customers but confirmed with us that they h
PDATE: In March 2011, CFO Jacky Lam of China Media Express and the auditors (Deloitte) resigned. Deloitte said they could no longer rely on the representations of management, and they suggested an investigation was in order. Ping Luo, the analyst from Global Hunter who gave CCME rave reviews resigned. Maurice Greenberg’s Starr Investments sued CCME for fraudulently inducing it to invest $13.5 million. The stock was delisted from the NASDAQ in May 2011.
Deloitte raised the following issues: questionable authenticity of bank statements, supicioius bank confirmation procedures, existence of advertisers/customers, undisclosed bank accounts and bank loans, financial filings with the State Administration of Industry and Commerce differing from information provided to auditors, questionable authenticity of tax filing documents, cash payments to employees, and double counting of buses. Just G O O G L E the Rest
Global Hunter Securities, the comedic bottom tier shop just keeps on providing the laughs. GH, the former home of Chinese Reverse Merger High Priestess Ping Luo, and the shop that put out the hilarious Morons or Mega-Morons report, has done it again. Witness the report, dated the 15th of June from Global Hunter’s Joe Giamichael on Yuhe Int’l. (YUII), put out in response to a sharply critical piece from former YUII bulls Geoinvesting (read the Geoinvesting piece here). Here’s the juicy bit from Joe’s defense of troubled YUII: Just G O O G L E the rest.
Atwood, who wrote the SA article, perhaps you should really dig. I can't for the life of me think at why he published an article unless he was letting someone know he was taking a position in HERO.
Noy usually his M.O. He used to post on Yahoo! up until a few years ago and went silent, but there are a bunch of us that met him through the Antares Pharma message board and we all get together now and then to talk shop. In fact, ask any one on the message boards for ATRS, ODP, OWW, KERX, AKS, PNK, VRNG, CRIS, CHTP, VLO and his biggest short bust ever was Ferro (FOE). Dude this guy lives for this #$%$!
Let me tell you something, he is not some piker. He is a former Investment guy and his war chest is quite vast. And I don't just mean money. He has a bunch of college buddies that he helped get into the SEC, and he has some of the biggest lobbying law firms on retainer. His audit company does investigative work for the Office of the Inspector General and other GOVT. agencies, so he access to top tier people who listen to him. If he has filed a complaint about something he sees as fishy, believe me someone is looking.
Guaranteed he is not measuring his position in number of shares but in percentages and if I had to guess he has probably already socked away between 4-5% of the shares, as he stops right before he has to do a 13 filing. I would also bet his small staff is working overtime getting all the dirt they can on the analysts dogging HERO and I bet you he has already set up meetings to meet with C levels at the HERO. I also would bet he is working all of his oil contacts in Texas to send as much business they can to Hercules.
He had the FEDs raid trading rooms in CO, NJ and CA and successfully linked them back to trading desks and analysts using private investigators.
Still not quite sure why he published on SA as he likes to use Hunt for Red October scenario. They don't know until it's too late. I wouldn't be short if he is working the stock.