Meet The Gerson Lehrman Group: The World's Biggest "Expert Network"

Tyler Durden's picture

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MeTarzanUjane's picture

Upon further examination;

That's a virtual who's who of douche nozzles.

66Sexy's picture

real estate i.e. knowing when key deals will or wont close, and what adjoining parcels are for sale and by whoom. this shits been going on a long, long time, and it always involves politicians...as i am sure this group does. i'm sure we may get us a senator or 3 in the mesh of indictments. yee haw!

bonddude's picture

They live on selling data mined by hiring (short contracting with) former employees of listed companies under the guise of "one of their clients has merger intentions,etc..."

And how many of these out of work and hard up former execs have violatated their terms of employment/departure and broke the law ?

Lots of people are talking me thinks.

Hope it reaches the TBTFs.

 

Commander Cody's picture

How to be expert in siphoning capital from a productive society?

demsco's picture

As a consultant for this group I was never asked to provide private information. Actually, they mandate that you not disclose any nonpublic information. You are paid by GLG so there is no incentive to give such information. Most calls last 30 minutes @ $500/hour. I was never asked to give details about private information nor would provide any I if asked. These, of course, are just my experiences with the firm. It is a good firm and if any insider info happened it would have been between the consultant and the client. If this did happen thanks a lot assholes. Another case of a few bad apples ruining the crop. 

bob_dabolina's picture

And what do you get for $500 an hour?

Just curious.

I hope you're not telling me that I would get "public" information for $500 an hour.

tmosley's picture

If it saves you months of your own research, I think you would find it well worth the money.

I have used services like this in the past for consultation on chemistry problems after fruitless months spent on my own research (the answers I was looking for had to include technique in addition to the simple publicly available recipes).  I had an answer in an hour.  It was worth ten times what I paid at least.  

Of course, now we have a polymer chemist on the payroll, so I haven't had to use a service like that in years.

DUNTHAT's picture

$250 bucks to learn how to google??

buzzsaw99's picture

Save it for the deposition.

seek's picture

As a former consultant (I haven't done a consult in several years) I can confirm that GLG mandates no insider information, but I can say with certainty that this did not stop a few of their clients from trying. I stopped answering consultation requests due to this, and the incessant attempts by the clients to get research for near free (ie industry statistics that cost $10K/year, and they'd call up and ask you to read the data to them for an hour.)

I have no doubt they'll find some bad apples, maybe even a lot. I know I never supplied any inside information (thankfully I had little to share to begin with) and in a couple cases actually reported the most asshole-ish clients back to GLG, mostly so I'd never be contacted again.

In the end I found the thing to be a bit distasteful; when GLG just started it really seemed focus on client education and I think everyone involved felt there was mutual benefit. As time wore on I think it just sort of spiraled out of control into an information free-for-all with a lot of clients looking for easy pickings or somethng for nothing. Things may have changed, as I said it's been a few years, but by the looks of it, it just got worse.

 

Comrade de Chaos's picture

Getting the insider information - 'priceless.' For everything else, there is the GLG. GLG our business model and services are so 'innovative', we don't need a f... advertisement!

MikeyKid's picture

It's laughable that the silver spoon born and powder puff journalism fluff master Anderson Cooper uses the "Keepin' em honest" moniker like he really is keeping them honest... Yet, here's a perfect example of how TD's been doing it for real - for a real long time.

 

When will the roaches really start to scatter?!

 

MeTarzanUjane's picture

Funny you used the word scatter. Bush cronie Lehrman is in the mix here. He was a TSA architect. Fan of the full body pat-down violation of the constitution, pro-israeli let's turn the USA into an extension of the homeland israel (homeland security).

shushup's picture

What about that FED Govenor that provides information to his clients for something like $75,000 per year. Will they be going after him as well?

bob_dabolina's picture

I swear it wasn't insider trading or anything like that.

It was an "idea dinner" soros, einhorn, paulson....ahem.

aint no fortunate son's picture

Hey! That link actually lets you email them!!! Yippee!

Croesus's picture

If they're not on the Federal BI's "hitlist" yet, I hope they soon will be ~

Bruno the Bear's picture
GLG's 850+ Clients Include:
More than 70% of the world's leading
mutual funds
15 of the leading 20
global banks
9 of the leading 10
global private equity firms
5 of the leading 10
AmLaw firms
Fortune 500® Companies
in nearly every industry sector, including pharmaceuticals, insurance, chemicals, energy and computer software
I am assuming after today's raid, they have several former clients.
john milton's picture

GLG great looting gang, all my boyz doing devils work...

YHC-FTSE's picture

Is this an advert? 

 

"a platform for consultation and collaboration. GLG does not write reports or take published positions, make product recommendations or offer investment advice."

 

So basically they provide a table and a few chairs for talking bollocks over lunch? Usually I don't need to be told twice to run a mile from anyone who supports: IDF, IDA, IDC, Mossad, or anything to do with being a "friend" to Israel. 

MeTarzanUjane's picture

It might be. I always thought .this was sponsored in part by those heritage foundation coo-coo's.

GoldbugVariation's picture

I can think of a ton of innocent reasons why a hedge fund would need the services of an expert biochemist or engineer.  They could advise on getting the coffee to taste just right, or the maximum number of monitors that could be stacked on one trading desk.  I hope I'm not being naive here.  ;)

Bearster's picture

Amazing how the simple fact that they charge money for consulting could be used to lynch them.

And of course it's Israel's fault. //sarcasm

CD's picture

The funniest part is that as a condition of continued "projects", consultants have to take a "tutorial" to help guide them in their efforts to keep to GLG guidelines. Some sample questions:

Your friend Paul works for XYZ Company. Paul tells you that he heard a rumor from another XYZ employee that XYZ may be about to announce acquisition of a small XYZ competitor, Blue Corp. As far as you know, no information about the potential acquisition has been disclosed by Blue Corp. or XYZ.

Can you tell our Client about the potential acquisition?

Sam, an independant consultant, has just accepted a project to consult about Acme Inc's new electronic medical records software program and its potential market share. Sam’s friend Joe currently works in Acme’s strategy department and likely has seen Acme's market share analysis.Should Sam call Joe to prepare for the project with GLG’s client?

lilimarlene1's picture

I wonder if they work on a click to call basis?

John McCloy's picture

Wait...so create a business that's sole purpose is to assemble a ring of insiders from various industries,.label them consultants and them sell the inside information as "advice" and it is consumed as such because of the high price tag, fancy PHDs and connected clientele? Why didn't I think of that?

Whatta's picture

Their bios indicate them to be a bunch of Ivy League entitled elitists.

Who are we to judge their actions when we are but the great unwashed? I went to a State College fer fvcks sake....lucky i kin read and write.

OutLookingIn's picture

 

 I see the Department of Wrist Slaps will be busy!

Boba Fett's picture

As corrupt and unethical as this business may potentially be... It is my understanding that this service is so widely used, that if they were take action a and prosecute all the way down to warning letter the past user base - it would hit like 75% of money mgrs.

BayAreaAlan's picture

I have been a consultant (1099 contractor) to GLG approximately 75 times over the last 8 years.  Each consultation ranged from 20 to 120 minutes and was paid at $500/hour.

At no time did GLG or any of their clients ask me inappropriate questions nor did I give any proprietary or confidential information.

Practicaly, most of the clients were incredibly ignorant financial people who were willing to pay lots of money to talk with someone with a clue.

Is it surprising that the people running hedge funds and doing M&A don't really understand the markets they are investing in?

Typical calls would be with a 22 year old pedigreed hot shot who was smart enough to know that he didn't everything, and asked for an overview of how certain markets and industries work, so he could summarize it and explain it to his hot shot trader or Managing Director boss.  They rarely asked about specific companies, mostly because they are so damned greedy (god bless Rand) and untrusting, most of their consultations are done through named "shell companies" so the consultant doesn't even know who he's advising.

I'm sure there is corruption and insider trading going on in this area, but no more than there is at the airports, the bars, or the sports gyms.

Yes, I profited from GLG and I am a biased source,  but I assert that they went beyond in trying to ensure no proprietary information was passed, and in my population sample of ~75 interactions, I never saw a hint of impropriety.

JohnKing's picture

The rapid response viral marketing department goes into gear....

 

 

 

MeTarzanUjane's picture

Makes you wonder how he got his account approved so quickly?

C+C Music Factory
http://www.youtube.com/watch?v=XF2ayWcJfxo

CitizenPete's picture

Bernays genuflects deeply to you! 

BayAreaAlan's picture

Sometimes a cigar is just a cigar, bitchez.

JohnKing's picture

500 dollar cigars bitchez.

 

tell it to Bubba.

Johnny Dangereaux's picture

Looks like Patrick Duff is the token Goyim...  What a surprise! tThey're all involve with Yale or Yale Law School i.e. the School for Shysters

GoldbugVariation's picture

But Patrick Duff participates on the advisory board of the Association to Benefit Children (among his other philanthropic endeavours).  He must be a really good guy.

koaj's picture

i remember for the last 4 years as i was selling to buy side firm, there were times when my firm's research would lose to these 'expert networks

my understanding or as ive heard is that a TON of firms use these guys and other firms like them.