Nothingness At SAC

Author:
Publish date:

Capital International, the largest fund in Stevie Cohen’s cabal at $8 billion, fell 3 percent in August, reducing its YTD return to (a measly, for Stevie) 10 percent. The insignificance of this fall (to a return that's still pretty damn good) is both welcome (everyone sick of “so and so is down” stories say “I,” unless it’s Pirate, because those guys have it coming) and depressing, because it means Stevie won’t think twice about purchasing the latest offering from Damien Hirst—$4,000 jeans decorated with a skull pattern made of Swarovski crystals. (To be fair, they really do make his ass look great.)
SAC also raised $1 billion from investors last month, increasing the firm’s assets to $15 billion.
SAC Raised $1 Billion in August as Fund Declined 3% [Bloomberg]

Related