SAC Capital

  • SAC Capital

    Mathew Martoma Got a Lot of E-Mails

    So his lawyer gets 90 more days to read them.

    / Mar 6, 2013 at 12:54 PM
  • SAC Capital

    Blanche DuBois Starts Hedge Fund

    Ping Jiang, the man who revolutionized trading at SAC Capital, has started his own hedge fund. Previous to branching out on his own, Jiang maximized returns at SAC by *allegedly* requiring those who worked under him to take female hormone pills and wear dresses, operating on the principle that traders were too aggressive, and that […]

    / Jun 12, 2008 at 1:33 PM
  • SAC Capital

    Victory At SAC: EEOC Says, ‘Hormones Do Not Sexual Harassment Make’

    CNBC’s Senior Testes-cum-Ovaries Correspondent Charlie Gasparino reports that the Federal Equal Employment Opportunity Commission has closed its investigation of allegations made by a former SAC Capital employee that his superior forced him to take female hormone pills. Junior trader Andrew Tong filed a discrimination lawsuit last year, charging that his boss, Ping Jiang, whose trading […]

    / Apr 30, 2008 at 4:00 PM
  • SAC Capital

    Won’t Be So Healthy After The Big Guy Dips Them In Chocolate

    Congratulations, SAC Capital employee Washington Tovar! We just received word that your business card won The Pump Energy Food’s weekly drawing. Your prize? Ten free sandwiches. The caveat? You’re going to have to share at least five of those babies with the BG, who’s sending a black car to the midtown office as we write […]

    / Apr 7, 2008 at 1:31 PM
  • art, SAC Capital

    Case Closed

    You’ve obviously read the story on Bloomberg about the big art robbery in Zurich; paintings by Cezanne, Degas, Monet and Van Gogh worth more than $163 million were stolen. It’s a big deal if you give a shit about obscure art museums in third-rate European cities. Reporters Marc Wolfensberger and Linda Sandler note that three […]

    / Feb 11, 2008 at 1:13 PM
  • SAC Capital

    Will The Last Person At SAC Capital Advisors Please Turn Out The Lights?

    SAC suffered two high level departures today when both its president and chief financial officer announced they were departing. James Rowan, the chief financial officer, is leaving to become the chief operating officer of Ren Tech. The president, Brian Cohn has no plans. Supposedly his departure has come as a surprise to the firm. SAC […]

    / Jan 11, 2008 at 5:04 PM
  • SAC Capital

    What The Hell?

    CNBC’s Senior Testes and Estrogen Correspondent Charlie Gasparino, who just can’t get enough of this stuff, reports that SAC trader Ping Jiang probably lost 200 million last year. At one point, Ping was Stevie-boy Cohen’s second highest earner. Where did things go wrong? The obvious answer is not enough E, and not that his “top […]

    / Jan 7, 2008 at 5:58 PM
  • Hedge Funds, SAC Capital

    Let Me Ask You Something

    Does he wear color contacts or are Stevie Cohen’s eyes really that blue? (And check out all that chest hair! Kind of ironic, isn’t it?)

    / Dec 13, 2007 at 4:29 PM
  • Hedge Funds, parties, SAC Capital

    It’s Entirely Possible That Gary Busey Was At Last Night’s SAC Holiday Party

    In a terrific display of holiday togetherness, the employees of SAC Capital convened in Stamford last night to bask in the mediocrity and obscurity of the past year. To create the perfect atmosphere for such an event, the holiday gala was held in a plastic tent behind the company’s headquarters. Despite their better efforts, however, […]

    / Dec 7, 2007 at 11:48 AM
  • Bank of America, Citigroup, parties, SAC Capital

    Stevie Cohen Making Us Jump Through Hoops To Score Female Hormone Pills

    Tonight’s parties are Citi at Paramount Bar (6 pm), BNP Paribas at South Street Seaport (7 pm), Jay Goldman & Co. (7:30 pm) at Del Posto, and Choice Energy at Bruno Jamais (5:30 pm) but WAY MORE IMPORTANTLY: SAC Capital in a tent behind the Stamford headquarters. We really feel like we should go but […]

    / Dec 6, 2007 at 12:25 PM
  • Hedge Funds, SAC Capital

    Andrew Ross Sorkin’s Death Wish

    DealBook has a nice little post today that more or less confirms our longstanding suspicion that Andrew Ross Sorkin wants to die. In it, Sorkin– or one of the many Mini Sorkins who represent him– recalls the recommendation SAC Capital gave to TD Ameritrade a few months ago RE: combining with another online brokerage firm […]

    / Nov 26, 2007 at 1:47 PM
  • SAC Capital

    Finally, Allegations Stevie Cohen Can Get Behind: Hormone Investigation ‘Reveals’ Possible Sexism SAC

    CNBC reports that the federal Equal Employment Opportunity Commission has taken the unusual step of performing “on-site” interviews at SAC Capital, on account of the fact that the accusations levied by a former junior trader, Andrew Tong, that his boss, Ping Jiang, forced him to, among other things, take female hormones and dress like a […]

    / Oct 17, 2007 at 2:45 PM
  • SAC Capital

    The Absence of a SAC?

    Andrew Tong, the former SAC trader who has accused his old boss Ping Jiang of forcing him to take female hormones, etc, has now allegedly produced “scientific evidence to corroborate the traumatic events that form the basis of his claims,” which, you may recall, caused him to dress like a woman and have sex with […]

    / Oct 15, 2007 at 2:00 PM
  • SAC Capital, Stevie Cohen

    Feds Get In On The SACtion

    Great headline, right? There’s more where that came from. Anyway, according to papers files yesterday, the federal Equal Employment Opportunity Commission is now investigating allegations that a SAC trader was required to take female hormones as part of a senior trader’s “top secret training program.” For those of you who don’t have Google alerts set […]

    / Oct 12, 2007 at 10:43 AM
  • SAC Capital, Stevie Cohen

    The Secret To SAC’s Success?

    In May, we told you about the allegations of sartorial behavior modification at SAC Capital Management. Former SAC employee Andrew Z. Tong had accused current SAC employee (and top trader, and Yoko Ono neighbor) Ping Jiang of sexual harassment that included enrollment in a “top secret training program,” and the elimination of Tong’s alleged personality […]

    / Oct 10, 2007 at 4:32 PM
  • Hedge Funds, SAC Capital

    Nothingness At SAC

    Capital International, the largest fund in Stevie Cohen’s cabal at $8 billion, fell 3 percent in August, reducing its YTD return to (a measly, for Stevie) 10 percent. The insignificance of this fall (to a return that’s still pretty damn good) is both welcome (everyone sick of “so and so is down” stories say “I,” […]

    / Sep 10, 2007 at 4:55 PM
  • Hedge Funds, SAC Capital, Stevie Cohen

    SAC Manager Has An Opportunity To Make More Money, May Take It

    Stevie Cohen (may be) a sell-out. Yes, the man who has made his money through a combination of massive, rapid trading in US securities and “If you tell anyone about this, I’ll end you” secrecy is considering selling upwards of 20% of SAC Capital, his $14 billion hedge fund. The Financial Times reports that the […]

    / Jul 25, 2007 at 12:00 PM
  • Hedge Funds, SAC Capital, Stevie Cohen

    Sartorial Behavior Modification at S.A.C.?

    It’s no secret that Stevie Cohen and S.A.C. Capital Management like to keep secrets. Cohen owns the media rights to publish his photographs, makes traders in his group swear on their lives that they won’t disclose any information, never shares his ideas with others and types all correspondence in ǃ’OǃKung. A New York County Supreme […]

    / Jun 15, 2007 at 9:47 AM
  • George Soros, Hedge Funds, SAC Capital, Stevie Cohen, Warren Buffett

    In Defense of Hedge Funds

    Nice pump up speech for hedge funds in today’s Hedge Week (we’re not going to make our ‘hedge’ quota by 5 without your help). Despite industry leaders “prophesying an end to the industry,” George Soros saying hedge funds are too over-exposed, Stevie Cohen (immune to self-inflicted irony) noting that the days of big returns are […]

    / Jun 4, 2007 at 4:57 PM
  • Carl Icahn, SAC Capital

    Icahn and Cohen: First Blood Brothers?

    Roddy Boyd today reveals some interesting-ish similarities between two seemingly dissimilar investors—Stevie-boy Cohen and Carl Icahn. Rabble-rouser extraordinaire Carl Icahn has found a wingman in fellow billionaire Steve Cohen when Icahn has acquired stakes in some of his most recent high-profile targets. In the past few months, filings detailing Icahn’s headline-grabbing investments in WCI Communities […]

    / Feb 6, 2007 at 10:35 AM
  • SAC Capital, Stevie Cohen

    Something Cheesy About How SAC’s Always So Private and This Is a ‘Private’ Deal Or Whatever—You Can Do It Better Than Us

    As previously noted this morning, private equity will be the hot chick at the party in ’07. But we didn’t realize that she’d be so hot that Stevie-boy Cohen would dip his fingers in her womanaly charms. But we’ve been not-clairvoyant before so, uh, this is nothing new (though upsetting all the while). As The […]

    / Jan 29, 2007 at 5:01 PM
  • Citadel, Goldman Sachs, Hedge Funds, SAC Capital

    This Is Why The Nebbishy Master Of The Universe Can’t Sleep At Night

    Remember, back in November, when there were all those rumors about a hedge fund in trouble, and even though Citadel vehemently—almost suspiciously so—denied that it was them, people were still kind of like “Sure, it’s not you, Citadel, we believe you” wink, wink? Apparently, according to Bloomberg, they weren’t bluffing. (SAC Capital pretty much cleared […]

    / Jan 16, 2007 at 10:10 AM
  • art, Hedge Funds, SAC Capital, Stevie Cohen

    Hedge Funds Versus Art: The Cost Steve Wynn’s Elbow

    Bloomberg’s reporting today that Steve Wynn is suing Lloyds of London for $54 million, the amount of the claim he submitted after he stuck his elbow through a Picasso that SAC Capital founder Stevie Cohen had agreed to buy for $139 million. We don’t know. We like to think that if we put our elbow […]

    / Jan 11, 2007 at 3:43 PM
  • Hedge Funds, SAC Capital

    Hedge Funds Vs. Art, Round XIII

    It’s no news that our top hedge fund guys are going in big for high-priced art but it is news that some of them are starting to move from private collections to taking larger roles at our public museums. We’ve already touched on Citadel founder Ken Griffen’s endowment of the “Kenneth and Anne Griffin Court” […]

    / Dec 13, 2006 at 2:45 PM
  • SAC Capital

    SAC Buys Up 5% of Phelps Dodge, Plans To Oppose Sale

    SAC Capital, the Greenwich hedge fund run by Stevie Cohen, says copper mining king Phelps Dodge is worth more than Freeport McMoRan Copper & Gold has agreed to pay for it, and is putting its money where its mouth is—picking up at least 5% of the companies shares. The story of SAC’s investment was first […]

    / Dec 11, 2006 at 12:35 PM
  • Amaranth, Brian Hunter, Hedge Funds, SAC Capital, Stevie Cohen

    How Stevie Cohen Ruined Amaranth

    A bid by SAC Capital’s Stevie Cohen to hire away energy trader Brian Hunter may have been “the first domino” in the series of decisions that eventually led to the collapse of Amaranth, the Greenwich, Connecticut-based hedge fund brought down in September by bad bets on energy futures, according to a report from Bloomberg this […]

    / Dec 6, 2006 at 10:28 AM
  • art, SAC Capital, Stevie Cohen

    Wealthy People Still Overspending On Ugly Art

    Stevie-boy has said that he makes 90% of his money from 5% of his investments. We hope he’s trying to make money with this art stuff because the alternative–that someone would actually like to have stuff like this painting hanging around their home–is too horrible to contemplate. From the New York Times: As records were […]

    / Nov 20, 2006 at 12:12 PM
  • Hedge Funds, legal, SAC Capital

    Having It Both Ways: Scam Artist Tries To Play Biovail and SAC Capital, Gets Burned

    Lawyers for SAC Capital reportedly turned in Michael Lair when he approached them claiming to be an investigator for Biovail, and offering to produce evidence of the drug company’s “illegal and unethical” investigative techniques, the New York Post’s Roddy Boyd reports this morning. SAC is the most notable target of a lawsuit launched by Biovail […]

    / Nov 9, 2006 at 9:35 AM

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