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Wall Street Roundup: Hedging bets in Vegas. Magnates go Gaga.

May 11, 2011 |  8:29 am

Gold: Trading now at $1,509 per ounce, down 0.5% from Tuesday. Dow Jones industrial average: Trading now at 12,691.80, down 0.5% from Tuesday.

Raj guilty. A jury found Raj Rajaratnam guilty on all charges after one of the most high-profile insider trading cases in recent history. 

Nasdaq spencerplatt getty Hedging bets in Vegas. As one hedge fund magnate awaits sentincing, most of the rest of the hedge fund world is gathering in Las Vegas for a conference at which George W. Bush will make a rare appearance.

Magnates go Gaga. Those remnants of the hedge fund world that did not go to Las Vegas were at a fund-raising dinner in New York where Lady Gaga made an appearance inside an enormous egg.

The AIG exit. The government is planning to exit a big part of its stake in American International Group, but with the stock price falling will taxpayers be able to exit with a profit?

-- Nathaniel Popper

Credit: Getty Images/Spencer Platt