Steve Cohen

Steve Cohen Tells Investors 2010 Was A Real Trip

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Not to worry, though- 2011 will be all good. The Big Guy guarantees it. Continue reading »

  • 01 Feb 2011 at 2:45 PM

Steve Cohen Plays Hard Ball With The Mets

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As you’ve more than likely heard, the New York Mets are in a bit of a tough spot, on account of getting screwed financially by their investments with Bernie Madoff. They announced last week that they need to sell a minority stake and the organization has been working the phones trying to find a buyer, with zero success so far. Included in the list of people who have turned them down? Steve Cohen. The hedge fund manager, who has a box at Citi Field, was reportedly “adamant” that he wouldn’t shell out any amount of money without getting a say in the direction of the franchise. But disappointed Mets management shouldn’t take this as a hard no. Continue reading »

  • 28 Jan 2011 at 11:02 AM

What Could Steve Cohen Possibly Have Meant When He Told CNBC “You Don’t Want To Talk To Me, I’m On The Way Down?”

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Earlier today on Squawk on the Street, CNBC showed footage of Steve Cohen at Davos. “We caught up with the legendary investor at breakfast this morning,” it was teased. “He told us ‘You don’t want to talk to me, I’m on the way down.’” Now the kind of people who think a hedge fund manager would tell a cameraman the Feds are on his ass are wondering if he was hinting at something! Indeed, we’re thinking he was! Gather round, ’cause this is a huge scoop you’re not gonna wanna miss. Continue reading »

  • 14 Dec 2010 at 5:06 PM

Fox Business Correspondent Blows The Lid Off The Feds’ Insider Trading Investigation

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There’s one person in particular the government seems to just be dying to get it’s hands on but up until this moment, no one has had the vaguest clue– none whatsoever!– as to who it could possibly be, nor has there been nary a hint. Until now. Continue reading »

  • 02 Dec 2010 at 9:23 AM

Steve Cohen Is Totally Unfazed By Feds

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Perhaps, you thought, after his hedge fund had received a subpoena from the feds, and the FBI had raided the firms of a bunch of his former employees, and an analyst was asked to wear a wire while having conversations with him, all as part of the government’s effort to behead him on live TV, that Steve Cohen would not be in the best of moods. That he would have retreated to the safe room underneath SAC’s headquarters or cryogenically frozen himself inside a Bob’s Big Boy statue and floated in space for 20-30 years, or until this whole thing blew over. Well- think again! He’s in a great mood and he’s out there, getting after it.

At Wednesday’s private opening of the country’s largest and most prestigious art fair, Art Basel Miami Beach, financier Steve Cohen showed no signs of being affected by the subpoena his $12 billion hedge fund, SAC Capital, received last week as part of a sweeping insider-trading investigation…Mr. Cohen, in jovial spirits and eager to chat about his fresh art acquisitions during the fair’s VIP preview, was one of scores of New York collectors who snapped up works in the fair’s initial hours—or, in his case, minutes.

He’s dropping major coin on, among other things, art made out of cans.

Within five minutes of the 11 a.m. opening, Mr. Cohen had dropped into David Zwirner Gallery’s booth, where he spent about $300,000 on Adel Abdessemed’s “Mappemonde,” a large-scale map of the world made from tin cans collected off the streets of Dakar. Within the next hour, he plunked down $180,000 for Tim Hawkinson’s “Bike,” a work of collaged inkjet prints, from Blum & Poe. “It was like boom—immediately,” said Blum & Poe co-owner Jeff Poe.

He’s making jokes (about himself). Continue reading »

  • 22 Nov 2010 at 9:14 AM

How To React When The FBI Asks You To Help It Take Down SAC Capital Et Al

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So! As previously mentioned, federal authorities are wrapping up a little project they’ve been working on for the past three years involving alleged insider trading, hedge funds, that sort of thing. The government claims the probes could “eclipse the impact on the financial industry of any previous such investigation” and that charges may come before the end of this year and perhaps as early as this week. Naturally it’s unclear as to exactly who the Feds are hoping to name as participating in the passing or receiving of material, non-public information but some educated guesses can be made, based on the accosting of one analyst, Jonathan Kinnucan.

Kinnucan, the founder of boutique firm Broadband Research LLC, was “sipping wine on his front porch in Portland, Oregon” when two men in suits popped out of a gray sedan and quite aggressively accused him of sharing inside information with his clients (hedge and mutual funds, mostly). They threatened to arrest him but then, changing to a friendly tone, suggested that things could be made better for Kinnucan if he did them a favor. “We think you can help us,’” he recalls. “There is this guy in particular we are after,” he remembers them saying. “We want you to have a conversation with him and record it.” Continue reading »

  • 18 Nov 2010 at 10:30 AM

The Job You Want At SAC Capital Involves Swinging A 9-Iron

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To be sure, there are many interesting positions to be had at SAC that most boys and girls would kill for. There’s Steve’s, which is a pretty good gig. There’s IR, which is fun. There’s president Cohnheeney’s, though few are good looking enough. There’s SC’s bodyguard, which is exciting and involves a gun. And of course there are the trading slots. They all come with great money, fleece apparel and of course prestige.

But unless you also want serious stress and pressure hanging over your head hour to hour day to day month to month, none of them are for you. You want the job where it is possible to utter the words “I’m gonna take off for a few hours, hit the links, maybe grab a sandwich” during the course of a trading session without fear of having a sand wedge shoved up your ass. You want the job that belongs to Sam Evans, SAC Capital golf pro in residence. Continue reading »