SAC Thinking the Unthinkable

The once-proud firm, which could blithely charge three-and-50 with a dismissive shrug of the shoulders or a penetrating, “you’ve got a lot of fucking nerve to question me” glare, has suffered indignities ranging from a snub from Citigroup (Citigroup!) to begging and coughing up extra cash to hang on to employees to pleading with clients to stick with it through the hard times, even as it continues to post double-digit returns. Now, it’s having Japanese banks turn up their noses at a once-in-a-lifetime, too-good-to-be-true opportunity to get a little piece of the Big Guy’s pie.

Mizuho Financial Group had discussed last year making a major investment that could have brought as much as $500 million to SAC, said people briefed on discussions with SAC executives and advisers.

But the bank ultimately notified SAC that it wasn’t proceeding. By December, with scrutiny of SAC’s trading practices mounting, the firm’s executives told advisers and others inside and outside the firm that Mizuho’s decision appeared final, the people said.

It gets worse.

SAC marketers also have reached out to hedge-fund investors and consultants about meeting representatives of the firm later this month at Morgan Stanley’s hedge-fund conference at The Breakers resort in Palm Beach, Fla., according to people familiar with the communications.

SAC is expected to host a golf-and-dinner outing this weekend in conjunction with the conference, they said.

Steve Cohen does not pay for others to dine and golf with him or his minions! You pay, out of what’s left of your half of the profits after he gets his 3% management fee!

But a grimmer reality is dawning over Stamford. A bleak, SAC-less reality, when no one gets his money managed by Steve Cohen except Steve Cohen himself, with Steve Cohen’s own deepest desire to continue managing your money thwarted, ignored, made irrelevant.

At the same time, in recent weeks, SAC executives and advisers have discussed options should redemptions continue to whittle away at the firm’s outside capital, according to people briefed on the discussions.

Recent internal discussions have included proposals for cutting staff and other contingency plans for running a smaller firm. It isn’t clear what amount of withdrawals, if any, could prompt a decision to return money to outside investors, the people said.

Mr. Cohen has long been insistent in his view that SAC should keep managing outside investors’ money, people involved in the discussions said.

The penultimate indignity: a family office.  What comes after that? We shiver at the thought.

SAC Misses Out on Big Investment [WSJ]

(hidden for your protection)
Show all comments

29 Responses to “SAC Thinking the Unthinkable”

  1. Guest says:

    you're starting to suck less.

  2. chat says:

    goods blogs thanks

  3. goods blogs thanksasdasd

  4. sohbet says:

    goods blogs thankssdadsa

  5. sohbet says:

    we always do a great job with our layoffs.

  6. oyment to talk to your publish. It is well-articulated, razor-sharp, along with goal. What beneficial instruction you may have learned that you put onto this kind of release. Searching to

  7. sohbet says:

    asdash. It is well-articulated, razor-sharp, along with goal. What beneficial instruction you may have learned that you put onto this kind of release. Searching to

  8. Three times, doctors have apologized for a bad diagnosis causing a life threatening result. One acute care RN made a bad assessment kadıköy kombi servisi and failed to monitor me. The acute care had two patients, me and another one and the nursing station was full of people on computers. I guess they had reports to write and side duties to perform.

  9. My point is, not once did I think a law beylikdüzü kombi servisi suit was the answer to the problem. Twice, I asked for a referral to another doctor and once I worked it through with the doctor who made the mistake. That worked very well and was satisfying for both of us.

  10. klima says:

    One vascular surgeon lead us down the wrong path after a complication that he explained as a condition over which he had no control. I was disabled arçelik klima servisi by it for several years. My most excellent physician discovered the real problem and gave me the right beta blocker to fix it.

  11. So too are outrageous webmaster forumu awards handed out by juries BAD and WRONG. They do little to prevent future damages while driving the cost of everybody's health-care through the roof.

  12. webmaster says:

    Remember this, the doctor diagnoses the problem based on information you provide. Go into a doctors office and say I am sick and you figure it out and proceed to say nothing and the doctor can't help. You tell the doctor what is demirdöküm kombi servisi wrong with you. Mind you, with the internet, you should educate yourself and always get a second opinion and preferable by a doctor not with the same practice.

  13. Not necessarily. They just kept right on checking my TSH levels, which is NOT how thyroid cancer is diagnosed at all. Didn't seem to ring vaillant kombi servisi any bells for any of them, that gee whiz, she's got this big lump there, wonder why. I kept asking, they kept rolling their eyes & ordering up another TSH test.

  14. Drs make mistakes! Bad ones! Some will not admit to it. Some are just ignorant of their mistakes & it takes the person who they destroyed vaillant kombi servisi to bring it out. There are too many like this out there. They will not even acknowledge the fact that they have destroyed someones life.

  15. pop radyo says:

    These are the ones that have good lawyers! The little baymak kombi servisi person is gone or will not go on because of these butchers! Obamacare will make this worse! We now have to look out for ourselves.

  16. pop radyo says:

    I have always been frank with with doctors – though I have never had a major invasive surgery, prior to the minor ones I have explained to the kombi servisi surgeon that I do not believe in 'malpractice' I believe in an eye for an eye. I feel that I was convincing.

  17. almanya says:

    have always been frank with with doctors – though I have never had a major

  18. Recently, there’s been a lot of talk amongst leaders in Washington about how to improve the painful process of repaying student loans. klima servisi At SoFi, we feel your pain and work hard to offer more flexible, more affordable options for our borrowers.

  19. One idea that’s getting a lot of attention is increasing the options for refinancing debt after graduation. The only lender currently focused eca kombi servisi on refinancing private and federal student loans is SoFi.

  20. webmaster says:

    This may be why, after demirdöküm kombi servisi resuming lending by invitation, the media became increasingly interested in what we are doing.

  21. pop radyo says:

    It is this social community aspect that makes refinancing with SoFi so valuable. By connecting borrowers with a community klima servisi literally invested in their success, the benefits of a SoFi loan go beyond saving money.

  22. How many student lenders do you know that will help unemployed borrowers find a new job? SoFi does just that – engaging with arçelik klima servisi borrowers who are actively looking for new employment opportunities and leveraging the networks of all members eager to help these individuals achieve new heights in their career.

  23. sohbet says:

    officers to investigate Blackstone's fishy financial transactions, but they wound up giving them

  24. asdash. It is well-articulated, razor-sharp, along with goal. What beneficial instruction you may have learned that you put onto this kind of release. Searching to

  25. we always do a great job with our layoffs.

  26. Very interesting blog post related to the unthinkable and how it can be used as your knowledge base.I like the blog post to read and share.Thanks a lot for posting such a nice content.