Former Amerindo Advisors executive Gary Tanaka hasn't been on his game in recent years as a Wall Street manager, but his acumen for horse-trading is second to none, according to a report in this morning's Wall Street Journal.
Tanaka and his Amerindo partner, Alberto Vilar, were arrested two months ago for allegedly stealing money from a client that was supposedly earmarked for a new venture separate from the struggling Amerindo Technology Fund. Both are free on bond, under house arrest and awaiting future court dates.
Tanaka, however, has been watching his thoroughbred investment earnings rise, the Journal said. Between 2001 and 2004, according to horse-trading tracker Equibase, his North American thoroughbred earnings have yielded $14.2 million.
"It's seldom that he has a bad year," Don Little Jr., president of Centennial Farms Management in Peabody, Mass., told the Journal.
Since his arrest, Tanaka has sold one of his prized horses and continues to follow the rest of his stable's performance on television and on the Internet, his longtime consultant told the Journal.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.