• 16 Apr 2014 at 4:40 PM

Steve Cohen Needs Your Best Trade Ideas

He’s got 90 days to make his fine back. Can he do it? With your help, he just might.

Even when he loses, the billionaire investor Steven A. Cohen manages to find a way to win. Overlooked in the judge’s approval last week of the guilty plea entered by Mr. Cohen’s hedge fund SAC Capital Advisors to insider trading charges is that the firm was given 90 days to pay a $1.2 billion penalty to federal prosecutors. That is longer than the 30 days recommended by federal probation officials but it is the time frame lawyers for SAC and federal prosecutors agreed to in November, when the hedge fund entered its guilty plea. The 90-day time frame means Mr. Cohen’s newly christened family office Point72 Asset Management will have more flexibility to deploy capital to the roughly 80 portfolio managers and trading teams that remain with the firm…Mr. Cohen, who personally made $2 billion last year even in the midst of an insider trading scandal that dominated the business headlines, is in the position to make a nice amount of money from the $1.2 billion his firm owes the government, if it trades wisely.

Steven Cohen Gets to Trade for 90 Days Before Paying Penalty [Dealbook]

13 comments (hidden to protect delicate sensibilities)
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Comments (13)

  1. Posted by guest | April 16, 2014 at 4:45 PM

    My best idea for Stevie:

    Buy an estate in Switzerland and live out a life of luxury away from the pussy ass feds!

    -M. Rich

  2. Posted by Avenue Capital LPs | April 16, 2014 at 4:54 PM

    Buy the Bucks!

  3. Posted by Guest | April 16, 2014 at 5:03 PM

    Idea #1- don't trade on inside info

  4. Posted by Guest | April 16, 2014 at 5:05 PM

    Put all your money in an index fund. No one has stock picking superiority unless their trading on inside info.

  5. Posted by Guest | April 16, 2014 at 5:06 PM

    Buy a dartboard and monkey and put the 2 into action.

  6. Posted by Guy Fieri | April 16, 2014 at 5:06 PM

    Do you realize who you're talking to?

  7. Posted by quant me maybe... | April 16, 2014 at 5:11 PM

    Bitcoin. And silver. Gold is good, too.

  8. Posted by Samir Nag..naganan.. | April 16, 2014 at 5:23 PM

    If I had $1.2 B dollars, I would invest half of it in low-risk mutual funds. Then, I would call my friend Asudullah in securities…

  9. Posted by wasted life cfa | April 17, 2014 at 12:04 AM

    Two chicks at once. I always wanted to do that, man. And I think if I were a billionaire I could hook that up, too 'cause chicks dig dudes with money.

  10. Posted by Suspicious Guest | April 17, 2014 at 8:14 AM

    John?

  11. Posted by Guest | April 17, 2014 at 9:52 AM

    *there

  12. Posted by fittingin | April 17, 2014 at 10:58 AM

    *they are

  13. Posted by marc | April 22, 2014 at 7:11 AM

    That's truly useful. Thanks for sharing this post and making people known about the hidden facts and figures.