Popularized in films like Limitless, legal smart drugs called Nootropics are becoming more and more prevalent in board rooms and on Wall Street.Keep reading »
May 22, 2013: “I’m thinking about putting more money with him,” said Ed Butowsky, managing director at Chapwood Capital Investment Management, who manages $1 billion in client money. The Dallas-based adviser did not say how much his wealthy clients have invested with Cohen’s SAC Capital Advisors, but said the figure tallies into the tens of millions. “Stevie Cohen is the Michael Jordan of hedge fund managers,” Butowsky said, comparing the billionaire trader’s success in the markets to the feats of the legendary professional basketball star. “I’d be a fool to take out money.”
June 12, 2013: The very thought that people want to trash Stevie Cohen, who is one of the great legends in portfolio management, because of some allegations, shame on them,” Butowsky said. “If it was me and I had to live through this stuff the last three years, I would tell everybody to go jump off a boat.”
July 24, 2013: Ed Butowsky, managing director at Chapwood Capital Investment Management, which has several million dollars invested with SAC Capital, said: “I don’t believe that criminal charges against the firm would impact Steve Cohen’s traders and their ability to make money.”
July 25, 2013: “Right now you have allegations. We’ve seen allegations and complaints many times that seem horrific and unbelievable only to find later there’s no support for it,” said Ed Butowsky, managing director at Dallas-based Chapwood Investments LLP, which invests money for wealthy individuals. Butowsky said he has had client funds in SAC for several years. Butowsky said he does not put his clients’ money with managers lightly, and would revisit his decision to invest with SAC “if something material develops that is going to impact their ability to do their job.”
All you other fair weather investors can take your traditional definitions of the word ‘material’ straight to hell. Ed’s settled in for the long haul.