Grim news for residents of Greenwich: Real estate prices plunged the most in three decades in 2008—the median home price fell 7 percent—and the number of houses sold dropped by more than a third as the financial crisis roiled the finance-heavy suburb. Billionaire hedge fund manager Steve Cohen isn't selling his…
It looks like the Greenwich planning commission is giving hedge funder Steve Cohen an early Chrismukkah present: It voted 5-to-0 in favor of his application to add an additional 1,145 square feet to his already-ridiculous 35,084-square-foot house. (Yes, he's the guy with a Rockefeller Center-sized ice rink and Zamboni…
Like most hedge fund moguls, Steve Cohen hasn't been having a very good run recently. (His flagship fund is reportedly down 18 percent so far this year.) But that isn't stopping the billionaire from making some home improvements: The proud owner of one of the most over-the-top estates in America is now looking to…
It turns out that Greenwich, the enclave that is home to some of the richest people in the New York metro area (like Steve Cohen, whose mansion is pictured to your left), went for Obama last week: "Perhaps most surprising was the result from Greenwich, Conn. The Versailles of the tri-state metro area, the most golden…
♦ 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…
♦ In a extraordinarily bold move, the U.S. will use $250 billion to take equity stakes in major financial institutions like Citigroup, Bank of America, Wells Fargo, Goldman Sachs and JPMorgan Chase as part of an effort to restore confidence in the system, unlock the credit markets and "avoid financial collapse." [WSJ…
Vanity Fair's perplexing list of the "New Establishment," that collection of people who aren't remotely "new" but certainly represent the establishment, is now online! The usual suspects (and Graydon Carter pals) continue to dominate (Barry Diller, Ron Perelman, Steven Spielberg), but there have been a few changes,…
Last night was the social event of the year for the finance community: It was the annual gala of the Robin Hood Foundation, the poverty-battling non-profit backed by banking heavyweights. The usual suspects from the worlds of hedge funds and private equity were in attendance, as were a smattering of celebs too…
The founder of SAC Capital and one of the most powerful hedge fund managers in the business, Steve Cohen is almost as famous for his obsessive secrecy and his museum-like art collection.
