The prime achievement of Steve Fishman's new profile of Steven A. Cohen, the billionaire hedge fund titan tarnished by insider trading allegations, is this quote: "On vacation one year, he ran into a fellow hedge-fund manager: 'It's not fair,' he complained. 'Why me?'"
The big hedge fund SAC Capital has given itself a new name, which is something for it to talk about other than its massive insider trading scandal.
Indictment Won't Stop Steve Cohen from Hosting a Hamptons Tuna Party
Try as they might, the feds haven't been able to slow Steve Cohen's roll.
Hedge Fund SAC Capital Indicted on Decade-Long Insider Trading Scheme
After a six-year crackdown on Wall Street's penchant for insider trading, federal prosecutors have filed criminal charges against SAC Capital Advisors, the powerful hedge fund run by YOLO-ing billionaire Steve Cohen. The indictment (below) includes one count of wire fraud and four counts of securities fraud for…
Hedge fund honcho Steve Cohen has chosen "the most hilarious possible defense" to SEC charges that he "failed to supervise" employees charged with insider trading. A 46-page white paper claims Cohen "did not even read" an email concerning ill-gotten intel on Dell.
UPDATED: Reuters' Ethics Editor Wonders Why His Bosses Killed the Story That a Hedge Fund Manager Asked Them To
A tipster reports that Dean Wright, the "ethics editor" for Reuters, is looking into how and why Reuters chief David Schlesinger killed an investigation into SAC Capital's Steven Cohen after Cohen complained about the story to the firm's CEO.
Meet the Cohens
Steve A. Cohen is the billionaire hedge fund manager who almost never talks to the press, very rarely appears in public, and does his utmost to keep himself out of the public eye. But he wasn't always that way! Last week, Cohen's first wife slapped him with a $300 million lawsuit, claiming he'd set up an elaborate…
More Trouble for Stevie
That salacious lawsuit filed against SAC Capital by a former trader at the mega-hedge fund was just the tip of the iceberg. Steve A. Cohen, SAC's super-secretive founder, now has an even more embarrassing legal mess on his hands. Cohen's first wife, Patricia, whom he divorced in 1988, has filed a $300 million lawsuit…
Steve Cohen Isn't Smiling Today
Hedge fund kingpin and mega-art collector Steve Cohen should be chilling out at Art Basel Miami right about now, eyeing the overpriced artwork he plans to add to the ridiculous $700 million collection that sits inside his ridiculous Greenwich compound. But it's unlikely the billionaire hedge funder is having a very…
The Taint Spreads to SAC
The growing insider trading scandal involving hedge funds has made its way to the offices of SAC Capital, the firm founded by one of the industry's most powerful figures, Zamboni-loving billionaire Steve Cohen. One of the 14 new defendants charged today, Richard Choo Beng Lee, seems to have started his crime spree…
Obama's Housing Rescue, Automakers Come for More
• President Obama is unveiling a $75 billion plan today to help struggling homeowners. A press conference is scheduled for 12:15pm. [WSJ, NYT, CNN]
• The Dow fell 3.8% yesterday to close at its lowest point since November. How today goes hinges on the response to Obama's housing rescue plan. [CNN]
• More on the life…
AIG Runs Low (Again), Some Hedgies Expand
♦ AIG is already running out of the $123 billion in cash it was provided by the Federal Reserve, which means the authorities are slowly waking up to idea that something else might be going on. [NYT]
♦ The U.S. economy shrank at a 0.3 percent annualized rate in the third quarter as consumer spending declined at the…
