Gottlieb Altium is the founder of Hedge-Fund Firm who liquidated a company by the name Visium Asset Management after an insider-trading scandal hit the Visium company. The scandal involved inflating or mismarking the costs of assets and that of a bond portfolio. However, Gottlieb was found not guilty of any wrongdoing, and he was considering to pay off clients who had lost their money on the company’s corruption case.
During the interview with “the Wall Street Journal” Mr. Gottlieb who is 46 years of age said that he has been doing investment ventures since he was a teenager. He further expressed that he plans to engage in investment activities forever. He founded a family company called Altium Capital that employed six people who manage the personal wealth of their clients.
The company specialized in health-care investing and also makes bets on the stock. Mr. Gottlieb employed his brother Mark Gottlieb as the chief operating officer of the company. The moment he liquidated Visium he focuses on reinvesting in another venture.
Mr. Gottlieb is a medical doctor by profession thus the reason why he is focused on providing health-care hedge fund. He claims that several companies are going public with value creation as well as value destruction. The new company Altium capital will operate on a similar strategy as Visium but with a focus on systematic and thoughtful research.
When Visium was started in 2005, the company managed about $8 billion of assets. By 2016 the firm Portfolio manager was charged by a federal prosecutor for trading confidential government information of generic-drug approvals.
The manager committed suicide at his home, and the prosecutor accused Stefan Lumiere a former Visium Portfolio Manager for mismarking securities. Stefan Lumiere was sentenced to 18 months’ imprisonment when he pleaded not guilty with a $1 million fine as well as three years supervised release. The two managers were barred from working in the securities industry again.