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Comments (18)

Oct 24, 2013 - 12:20pm

27B-6:

justin88:

The Lance Armstrong of money managers perhaps.


Why/how does a clip like this go viral and get millions of views? The internet works in a mysterious way that eludes me.
Too late for second-guessing Too late to go back to sleep.
  • 1
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Oct 24, 2013 - 9:49pm

H34D SH01:

That cohen was using insider trading to achieve SAC's returns has been a relatively open secret for a very long time. Stevie is very smart, but he cheats.

This. The line between getting an edge over the market and "cheating" according to the letter of the later is one that's tough to see. But when you're in a crowd of people and one person is the farthest in the direction of that blurry line and reaping the benefits...you can make the deduction

Oct 24, 2013 - 9:58pm

H34D SH01:

That cohen was using insider trading to achieve SAC's returns has been a relatively open secret for a very long time. Stevie is very smart, but he cheats.

Glad to see you guys are on a first name basis and you're fully aware of the insider trading. Preet Bharara could sure use a hand putting him in jail. He's only been able to fleece "Stevie" for 1bn+ but is still struggling to convict him of anything in a court of law.

Oct 25, 2013 - 7:48am

Gray Fox:

H34D SH01:

That cohen was using insider trading to achieve SAC's returns has been a relatively open secret for a very long time. Stevie is very smart, but he cheats.

Glad to see you guys are on a first name basis and you're fully aware of the insider trading. Preet Bharara could sure use a hand putting him in jail. He's only been able to fleece "Stevie" for 1bn+ but is still struggling to convict him of anything in a court of law.

"good at not getting caught cheating" =/= "not cheating"

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
  • 2
Oct 27, 2013 - 11:50am

That SAC is a cheater's den has been the worst kept secret on wall st for over 10 years. pre-crisis SAC used to pay ~$250m/year to the street, outside of regular trading costs, to get research reports 30-60 minutes before other clients. In the early days they were big into engineering short squeezes, and other brute force trading strategies. Whether any of these activities (separately or in combination with the insider allegations) are illegal or not is a question for somebody else... but certainly Stevie's results are not the consequence of great genius. the guy doesn't belong on a pedestal next to buffett, soros, icahn, etc.

Best Response
Oct 27, 2013 - 1:30pm

RLC1:

That SAC is a cheater's den has been the worst kept secret on wall st for over 10 years. pre-crisis SAC used to pay ~$250m/year to the street, outside of regular trading costs, to get research reports 30-60 minutes before other clients. In the early days they were big into engineering short squeezes, and other brute force trading strategies. Whether any of these activities (separately or in combination with the insider allegations) are illegal or not is a question for somebody else... but certainly Stevie's results are not the consequence of great genius. the guy doesn't belong on a pedestal next to buffett, soros, icahn, etc.

Interesting. I wonder if the lawsuit from Cohen's ex-wife would shed any light on these activities. She was with him before he founded SAC and claims that Cohen had been doing insider trading since the 80s.

Too late for second-guessing Too late to go back to sleep.
  • 3
Oct 28, 2013 - 2:03pm

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