Steve Cohen

  • 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. Read more »

  • 10 Apr 2014 at 12:50 PM

Judge Shows Mercy On SAC Capital

$1.8 billion fine and not a penny more, probably. Read more »

  • 07 Apr 2014 at 2:36 PM

Today Is Not Just Another Monday

October 12, 1492. July 4, 1776. July 21, 1969. All dates of such historical and cultural significance that if you asked someone where they were on that day, they’d surely be able to tell you. Because they weren’t just any old days; they were moments when everything changed. When seismic shifts in history occurred. When everything that came after it would be different than before. The day Christopher Columbus reached land; the day Congress the adopted the Declaration of Independence; the day we put two men on the moon. Today, another date will be added to the history books: April 7, 2014. The day SAC Capital changed its name to Point72 Asset Management. Read more »

He’s wined them and dined them and kept them warm when the trading floor was cold but apparently free hot dogs and Patagonia fleeces don’t go very far at SAC Capital these days. Following a raft of deflections by people who don’t want to stick around to see what the future holds for Point72 Asset Management, Dealbook reports that Steve Cohen is attempting to ensure a little loyalty from his traders, who can choose to do this the easy way or the hard way. Read more »

Over the past year or so, Steve Cohen has had to swallow several bitter pills in order to continue doing what he loves– trading stocks– and not further incite the Securities and Exchange Commission, the Justice Department, and Preet Bharara. He’s written a check for over 600 million dollars and another one for $1.2 billion. He’s returned all investor money to people not related to him by blood or marriage. He’s said good-bye to friends. Most recently, he made the ultimate sacrifice when he agreed to change the name of the firm1 from his initials to Point72 Asset Management, rendering a walk-in closet full of SAC Capital fleeces utterly useless.

And although the sight of a distraught Cohen fighting with his lieutenants over the name change, of him scooping up a pile of fleeces and shouting “What the hell am I supposed to do with these?!” before collapsing atop them and whispering, “Alright…alright,” of his President and GC and CFO standing awkwardly around him as he buried his face in the zip-ups and vests before sending everyone away and letting him be alone with them, of a single tear rolling down his face as he slowly traced the stitched on ‘S’ and then the ‘A’ and finally the ‘C’ should have been enough… Read more »

Steven A. Cohen, the billionaire investor, is looking to hire a former prosecutor or securities regulator to monitor trading at his investment firm in the wake of the federal government’s insider trading investigation. Mr. Cohen’s SAC Capital Advisors hedge fund, which pleaded guilty to securities fraud in November, is in the process of converting to a family office that will manage mainly $9 billion of his personal wealth. The firm announced its intention to hire a chief surveillance officer to monitor trading in a letter to employees on Tuesday. The firm expects to fill the newly created position in the spring…The letter to employees also described how SAC, after converting to a family office, would consolidate several operating divisions and would announce a new name for the firm sometime in April. [Dealbook]

At least one person isn’t happy about the pending insider trading settlement between the government and SAC Capital Advisors LP and isn’t afraid to make that known — anonymously. In an anonymous email to U.S. District Judge Laura Taylor Swain, who is presiding over the criminal portion of SAC’s settlement, the critic had harsh words for the Justice Department and SAC’s billionaire founder Steven A. Cohen. “LTS, you must be tough like [Judge] Rakoff, kill the plea deal now that SAC trader Mathew Martoma is convicted to force DoJ to put Steve Cohen behind bars,” the person wrote. “His billions were made by insider trading and stolen from investors.” [WSJ]

*Assuming you can’t get them imported to the joint.