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.

Why Two Investors Are Sticking With SAC Capital [WSJ]

28 comments (hidden to protect delicate sensibilities)
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Comments (28)

  1. Posted by Guest | July 26, 2013 at 11:39 AM

    So Stevie is Walter, Ed is "the Dude", and right now Stevie is telling Ed, "nothing's fucked"

  2. Posted by Walter Sobchak PM | July 26, 2013 at 11:54 AM

    Those guys over at the SEC are nothin' but a bunch of fuckin' amateurs!

  3. Posted by Guestgate | July 26, 2013 at 11:58 AM

    Cohen is a fucking parasite who pushes money around with the aid of illegal information while making billions. He creates nothing. Lock this worthless crook up. It's time for America to wake up. Europe already has. Bankers are on par with a seedy used car salesman and barristers. Wake up America stop glamorizing these pieces of shit.

  4. Posted by Guest | July 26, 2013 at 12:01 PM

    You're obviously not a golfer

  5. Posted by a banker | July 26, 2013 at 12:03 PM


  6. Posted by ozone pawk | July 26, 2013 at 12:08 PM

    i had stevie's back. then i saw that he was boys with bo dietl.

  7. Posted by Only if Legal | July 26, 2013 at 12:10 PM


  8. Posted by Guest | July 26, 2013 at 12:12 PM

    What do you create?

  9. Posted by SAC IB Dept | July 26, 2013 at 12:13 PM

    Yes, I agree, we should stop glamorizing and instead lockup all of the bankers at SAC. Please, proceed with that.

  10. Posted by Puck It | July 26, 2013 at 12:36 PM

    Dear OWS,

    Go take a bath. Please. We're begging you.


  11. Posted by Guestx | July 26, 2013 at 12:45 PM

    Bankers financiers time square toilet bowl water I don't care what you call them. These fucks make billions and kill main street's trust in the process. Without trust we don't have dick.

  12. Posted by guest | July 26, 2013 at 12:46 PM

    Are you lost? This isn't the Yahoo! Finance comment section

  13. Posted by R. Jeremy, CFA | July 26, 2013 at 12:47 PM

    I'm not at all surprised that you find yourself lacking in that department.

  14. Posted by SMU Intern | July 26, 2013 at 12:48 PM

    Well, they can't be making that much since SMU Secure apparently has more money than all of us combined.

  15. Posted by mrp | July 26, 2013 at 12:54 PM

    When did this become fucking CNN politics section? Go Away.


  16. Posted by Put_Option | July 26, 2013 at 1:02 PM

    Stevie Cohen is a friend of mine

  17. Posted by Im_a_Dude | July 26, 2013 at 1:10 PM

    Barristers too? that's a pretty wide net. lets lock up all the barristers we can find in the US.

  18. Posted by What? | July 26, 2013 at 1:24 PM

    I know fuckin barristers, right?

  19. Posted by educated guess | July 26, 2013 at 1:38 PM

    A shitload of student loans, which will be eventually borne by the taxpayer, since I majored in dead languages, with a minor in empathy.

  20. Posted by QIP | July 26, 2013 at 1:55 PM

    What are their minimums ?

  21. Posted by Starbucks GM | July 26, 2013 at 1:56 PM

    Hey !

  22. Posted by trader | July 26, 2013 at 2:07 PM

    This sounds like a trash talk of fired wanker from UBS backoffice.

  23. Posted by Guest | July 26, 2013 at 3:08 PM

    Guy is a PR genius,
    I would imagine his clients are going to be thrilled with him when there money is locked up in the SAC liquidation trust being administered by Kenneth Feinberg.

  24. Posted by DingALing | July 26, 2013 at 3:48 PM

    Yea well that's just like you're opinion or whatever dude…

    -The Dude

  25. Posted by guest | July 27, 2013 at 9:10 PM

    Who the fuck is Ed Butowsky?

    – Stevie C.

  26. Posted by quest | July 29, 2013 at 7:46 AM

    I agree.

    Wayne Bobbit, CFA

  27. Posted by retroactive comments | July 29, 2013 at 5:16 PM

    who the fuck works in times sq. besides BMO and those nerds at EY?

  28. Posted by ozone pawk | July 29, 2013 at 5:17 PM

    Elmo and Dora