conference calls

Write-Offs: 11.29.12

$$$ Boehner Urges Obama to ‘Get Serious’ About Cliff Talks [Bloomberg]

$$$ SAC’s assets increased despite indictment [AR]

$$$ SAC Capital holds call with employees, says essentially the same thing it said to investors yesterday [CNBC, earlier]

$$$ Savers’ lament: The complex effects of low interest rates on consumption and investment [Economist]

$$$ Record Corporate Profits [Economix]

$$$ Ken Griffin buyer of Chicago’s most expensive condo [Chicago Tribune]

$$$ The Danger Of Dyslexic Headline Scanning Algos [ZH]

$$$ Strauss-Kahn Said to Reach Deal to Settle With Hotel Housekeeper [NYT]

$$$ Joe Biden Goes To Costco [BuzzFeed]

$$$ Zurich to open drive-in sex boxes [Telegraph via MR] Read more »

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  • 28 Nov 2012 at 11:49 AM

Things Could Be A LOT Better At SAC Capital Right Now

Back in October, we detailed a list of things that, if you are the hedge fund manager who goes by the name Steven A. Cohen, you really don’t want to hear first thing in the morning. They included: “The fleeces are on back order”; “Your ex-wife is in the lobby”; “There’s a photographer here who said he’s been authorized to shoot you wearing a king’s robe and crown for a set of playing cards”; and “You’ve been outmaneuvered for the Toledo Mud Hens. But I hear the Binghamton Mets may be available.” Today we must update that list to include another thing, perhaps THE thing, that people delivering news to Cohen don’t want to relay. Paraphrasing but any variants on: “Mr. Cohen, we’ve received a Wells notice and by the way, they’re considering naming you personally.” Read more »

SAC Capital Advisors LP, the $14 billion hedge fund run by Steven A. Cohen, plans to hold a conference call with clients tomorrow, according to an investor who asked not to be named because the information is private. SAC executives have reached out to the firm’s largest investors to calm concern about Cohen’s trading in Elan Corp. and Wyeth LLC after prosecutors for the first time tied the hedge-fund founder to a specific transaction at the center of an insider-trading investigation. [Bloomberg, related, earlier]