So many changes afoot for Steve Cohen! As you know there have been layoffs in the big man’s house, including the closing of the San Francisco office. But perhaps way more importantly is the news that Cohen is said to be considering closing CR Intrinsic, the fund which is made up of approximately 70 percent of his own money, and represents a sizable amount of his entire net worth. Things are still sort of chugging along at SAC, though they are expecting about $1 billion in redemptions. Moving forward we’re thinking certain initiatives that could go far in saving Stevie from being forced to cut anymore Little Steves could include the auctioning of a few of the hot commodities above, and requiring that all employees make their own dresses instead of picking them out at Saks.
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First!!
interesting! i wonder how much trading CR intrinsic did with SAC…
what does that name mean anyway, credit intrinsic?
Sarah Palin may have some spare frocks…..
cr intrinsic dr sac?
anyone know what happened to their HK office? I believe they were part of Canvas
I would not have thought in a million years that those hedgies at SAC would have been slumming it in Patagonia garb…
@7
As the World’s foremost fleece connoisseur, I think Stevie must know someone that mere mortals do not
I think SAC and Chicago Booth should start a new line of clothing for the shivering, homeless, homosexual hedge fund manager with class.
@3
CR Intrinsic an anagram for Indistinct Crier.
did all of the canvas guys in SF get blown out, or did some get moved to surviving funds?
So what’s gonna happen to the SAC employees now that they have to buy their own hormones?
I’m a long term government employee. What does credit intrinsic mean?
TOGFD
What a riot! I bought one of these Patagonia Synchilla Fleeces for $12.99 at the Salvation Army in Port Chester, NY two saturdays ago. I subsequently removed the embroidered logo. Dang! If I knew it was going to be featured here, I would have kep the logo on.
CR is Cohen-Roth, after the two general partners of it (not sure if the last name is actually right, by the way, i am sure the R is the first letter of the last name of Cohen’s partner in CR).
no, sorry, CR does not stand for cohen-roth.
#9 – you get the prize.
Totally bizarre how he sees trading as a homoerotic deal.
SAC will be the benefactor of a huge amount of capital infusion from the middle east, in large part from the Saudis.
Look for Stevie making huge bucks in gold and oil futures.
He’s desperate and going rogue.
#3 – Its called CR Intrinsic because the name Intrinsic was taken. Dont know what it stands for.
#6 – The HK office is alive and well. Actually dont know about ‘well’, but definitely alive.
#14 – Did you really find one of the black fleeces at a Salvation Army for $12.99?? Thats awesome. I actually love the fleece. Funny thing is they give you a really hard time to get it. One coworker had to wait 6 months before they were allowed to have one…Didnt think to check the Salvation Army.
#18 – What on Earth are you talking about?
Sad Sac
cumulative return intrinsic value
CR stands for “Cohen Research”. The name intrinsic was taken. This was one of Matt Grossman’s “brilliant” ideas. Of course it was a total dud like most of Matt’s ideas. Matt left because he was terrible at picking stocks and decided to launch his own fund. Lets see, Intrinsic couldn’t make money with or without him. Why will Grossman’s new fund ??
CR stands for “Cohen Research”. The name intrinsic was taken. This was one of Matt Grossman’s “brilliant” ideas. Of course it was a total dud like most of Matt’s ideas. Matt left because he was terrible at picking stocks and decided to launch his own fund. Lets see, Intrinsic couldn’t make money with or without him. Why will Grossman’s new fund ??
grossman is a douche. ask people who worked for him.