Tom Conheeney

SAC Capital Advisors LP executives told investors Monday that its settlements with securities regulators, in which the hedge-fund firm agreed to pay a record $616 million penalty to end two insider-trading cases, was a difficult decision that will help it move forward. On a conference call with clients, SAC President Tom Conheeney cautioned that the two agreements with the Securities and Exchange Commission wouldn’t mark the end of the regulatory scrutiny that has shrouded the firm in recent years. The settlements, Mr. Conheeney said on the call, are “an important first step.” But, he added, “I don’t want to leave you with the thought that this means everything is cleared up.” [WSJ, earlier]

  • 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 »

Yes, Super Bowl XLVIII is a long way off. Yes, it’s hard to get jazzed about a game for which we have no idea who will be playing. Yes, you might actually freeze your ass off. While all of those things may be true, yesterday brought news that should have you salivating for 2014. Because yesterday, we found out that that SB? Stands to be the best one ever, based on a host committee that includes (among others such as Goldman Sachs, JPMorgan, Citi, BlackRock and Paul Tudor Jones): SAC Capital. While the official list cites SAC president Tom “Silver Fox” Conheeney as its point man on the project, make no mistake that Steve Cohen will be heavily involved, no doubt going above and beyond the responsibilities of a typical host. Obviously, Cohen has a lot on the line here, given that his venerable initials are on the thing. Therefore, in an effort to make sure SAC isn’t associated with a sack-freezing joke, he’ll be taking the following steps to ensure the game is a smash hit. Read more »