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SAC In The District?

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The Hill reports that SAC Capital is currently building “a team equipped with considerable resources to make bets on Washington-based political intelligence, including tips gathered on and off Capitol Hill.” SAC is purportedly earmarking up to $1 billion for the venture. Two of Stevie-boy’s henchmen have been spotted lurking around the area, and have told sources they’re on assignment to “form relationships,” which sounds deliciously cloak and dagger enough to pique our interest (and in line with the manager’s "don't talk to me, don't look at me, don't even think about me" style).

A spokesman for the hedge fund said the pair had been dispatched to the District on a trial basis, but firmly denied that SAC is setting up shop here.
“While many investment and securities firms have D.C. offices, we do not have an office there, nor have we decided to open such an office,” he said. He also refuted the claim that the hedge fund will earmark any pre-determined sum to trading on ideas flowing from Washington.
But that amounts to hair-splitting, given the fund’s substantial size — it has roughly $12 billion in assets — and its interest in gathering intelligence in Washington, argued a person familiar with SAC and the hedge-fund world.
“Based on the success of the team and the ability to generate ideas, it’s almost limitless what they could put in,” he said.
SAC will seek to profit from intelligence about pending legislation, regulatory changes as well as mergers, spin-offs and other non-financial events, sources said. The team could be up and running by the end of this month.

No word on whether or not Cohen will dirty his hands with Washington’s most closely guarded secret-- Senator Chris Dodd’s hair; but if he knows what’s good for him, he will. (Is it a helmet? A piece? A bearskin rug and a near-lethal combination of hairspray and Depp? These are questions we need someone to supply answers to).
SAC Capital eyes D.C. move with $1 billion [The Hill]