The WSJ's Alan Murray on Stevie Cohen's Biovail-related woes and the negative publicity they rode in on:
It's almost possible to feel sorry for Stevie Cohen. Sure, the publicity-phobic hedge-fund impresario who runs SAC Capital Management LLC -- SAC stands for Steven A. Cohen -- brought home about half a billion dollars last year, thanks to a compensation scheme that lets him skim 40% to 50% of his funds' profits. And yes, home is a 14-acre spread in Greenwich, Conn., with a 31,000-square-foot house, a hockey rink and paintings by Jackson Pollock and Claude Monet. But what Mr. Cohen really wants -- like Greta Garbo and Howard Hughes -- is to be left alone.
But Murray admits he's part of the problem:
Then there are curious journalists like me, who've been nosing around Mr. Cohen's affairs, talking to people who know him, and gawking at his Greenwich spread via Google Earth. Ah, yes, but the problem with Google Earth is that you can really only vaguely make out the details. Driving up to Greenwich, parking outside of the gate and scaling the fence: much more effective.
But we're inclined to agree with Murray's assertion that covering Stevie Cohen more and more aggressively will only help society. Which is why we give you a Steven A. Cohen wiki entry to edit/add to/vandalize.
Hedge Funds Need to Open Up [WSJ]