Ray Dirks came to Wall Street with Goldman, Sachs & Co. in 1963 where he was established as the leading insurance stock analyst dealing with institutional investors and high -net worth investors both in the U.S. and internationally.
In 1973 Ray uncovered the biggest Ponzi scheme of the 20th century, the Equity Funding fraud. Equity Funding Corporation, listed on the New York Stock Exchange, had been widely touted as the fastest -growing large insurance company in the country, but Ray’s research, which he conveyed to The Wall Street Journal and Barron’s, exposed the fraud in less than 30 days. Over 20 officers and accountants and lawyers went to jail, However, as the man who blew the whistle on this Ponzi scheme, Ray himself was charged by the SEC with civil fraud and was forced to battle the Securities and Exchange Commission all the way to The Supreme Court where Ray won the landmark 1983 decision on Inside Information violations, known widely as The Dirks Decision.
Over the years Ray has expanded his stock market research to include Healthcare Stocks and Special Situations, including Heavily Shorted Stocks, an area where Ray became widely known as the founder and principal researcher of The ShortBusters Club.
Ray has written two books,” The Great Wall Street Scandal” and “Heads You Win, Tails You Win”, published by McGraw-Hill and Bantam Books respectively. He continues to provide research to institutions and individuals, and he manages money for some individual investors.