Dear CR Intrinsic Investor (Pauses To Giggle And Think 'Hey, That's Me')

Posted by Bess Levin, Nov 10, 2008, 12:25pm

sacfleece.jpg
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.

14Recommend this! 25Comments

Comments

1

Posted by guest , Nov 10, 2008 12:49PM

First!!

2

Posted by guest , Nov 10, 2008 12:50PM

interesting! i wonder how much trading CR intrinsic did with SAC...

3

Posted by guest , Nov 10, 2008 12:52PM

what does that name mean anyway, credit intrinsic?

4

Posted by guest , Nov 10, 2008 12:53PM

Sarah Palin may have some spare frocks.....

5

Posted by guest , Nov 10, 2008 12:59PM

cr intrinsic dr sac?

6

Posted by guest , Nov 10, 2008 1:02PM

anyone know what happened to their HK office? I believe they were part of Canvas

7

Posted by guest , Nov 10, 2008 1:20PM

I would not have thought in a million years that those hedgies at SAC would have been slumming it in Patagonia garb...

8

Posted by Anal_yst , Nov 10, 2008 1:22PM

@7

As the World's foremost fleece connoisseur, I think Stevie must know someone that mere mortals do not

9

Posted by guest , Nov 10, 2008 2:17PM

I think SAC and Chicago Booth should start a new line of clothing for the shivering, homeless, homosexual hedge fund manager with class.

10

Posted by guest , Nov 10, 2008 2:21PM

@3

CR Intrinsic an anagram for Indistinct Crier.

11

Posted by guest , Nov 10, 2008 2:31PM

did all of the canvas guys in SF get blown out, or did some get moved to surviving funds?

12

Posted by guest , Nov 10, 2008 3:13PM

So what's gonna happen to the SAC employees now that they have to buy their own hormones?

13

Posted by guest , Nov 10, 2008 3:31PM

I'm a long term government employee. What does credit intrinsic mean?

TOGFD

14

Posted by guest , Nov 10, 2008 4:13PM

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.

15

Posted by guest , Nov 12, 2008 12:10PM

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).

16

Posted by guest , Nov 14, 2008 6:31PM

no, sorry, CR does not stand for cohen-roth.

17

Posted by guest , Nov 15, 2008 12:30AM

#9 - you get the prize.

Totally bizarre how he sees trading as a homoerotic deal.

18

Posted by guest , Nov 15, 2008 12:35AM

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.

19

Posted by guest , Nov 20, 2008 7:06PM

#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?

20

Posted by guest , Nov 23, 2008 7:49AM

Sad Sac

21

Posted by guest , Nov 28, 2008 10:42PM

cumulative return intrinsic value

22

Posted by guest , Dec 11, 2008 3:34PM

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 ??

23

Posted by guest , Dec 11, 2008 3:35PM

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 ??

24

Posted by guest , Dec 11, 2008 3:35PM

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 ??

25

Posted by guest , Feb 24, 2009 6:32PM

grossman is a douche. ask people who worked for him.

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