Pro: Cohen gets concrete evidence we’re working our tails off. Con: He rips our throats out for implicating him in the crime. Pro: His lips say “tell me.” Con: His eyes say, “keep your mouth shut.” Pro: I can maybe cut a deal with the prosecutors some day. Con: I may be driven out to the docks.

Cohen’s top lieutenant, Michael Steinberg, on trial for insider trading in Manhattan federal court, and his research analyst Jon Horvath debated what to tell the mega-investor about the inside information they had on Dell, Horvath testified Monday. The analyst’s inside information on Dell indicated the company would miss analysts’ estimates when it reported earnings in August 2008. That differed from the positive view others at the hedge-fund giant had on Dell, which led SAC and Cohen to take a big long position in the stock. In an email to Horvath on Aug. 25, Steinberg, a portfolio manager, wrote that he hadn’t mentioned any of Horvath’s Dell information to Cohen and that “I’d like to properly weigh the risk-reward of doing so.”

[NYP]

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Comments (9)

  1. Posted by Guest | December 3, 2013 at 2:27 PM

    Its amazing how someone can craft plan to illegally make millions of dollars then become instantaneously stupid enough at a trial to make you wonder how they put their pants on with the zipper in front each morning.

  2. Posted by Chafed guest | December 3, 2013 at 2:38 PM

    The zipper goes in front? Shit..

  3. Posted by Steve | December 3, 2013 at 3:15 PM

    You know what? Just don't tell me tell me where you got the source from Michael. Take some time to weigh the pros and cons. Pros: you'll be working for a very above average HF for $2 million a year; cons: me, kicking you 'til there's blood in your stool, then grabbing your wife's boobies while you're tied up with a racquetball shoved in your mouth. Now, balance it out, and think about it.

  4. Posted by guest | December 3, 2013 at 4:07 PM

    +1

  5. Posted by guest | December 3, 2013 at 4:07 PM

    COTD

  6. Posted by Guest | December 3, 2013 at 4:49 PM

    squash* ball

  7. Posted by E Musk | December 3, 2013 at 4:49 PM

    If you put the zipper behind, you can shit indeed.

  8. Posted by Bored Guest | December 4, 2013 at 9:30 AM

    Since you're new here, if you want to give someone's comment a "+1", what you need to is click on the little thumbs up symbol on the right hand side of the gray bar where the comment author's name appears. Conversely, if you want to give someone's comment a "-1", you would then click the thumbs down symbol. Hope this is helpful.

    - DB site administrator

  9. Posted by Guest | December 4, 2013 at 9:46 AM

    Greed for lack of a better word. . .will get you fired, banned from trading and sent to prison.