sometimes love means having to change your interpretation of the word material

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.” Read more »