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People Moves: Blanche DuBois Out At SAC

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Here’s some mildly upsetting news: Ping Jiang, the man who revolutionized trading at SAC Capital, is no longer with the firm. For those who need a quick refresher, Jiang was the pioneer who maximized returns by requiring those who worked under him to take female hormones and wear dresses. The party line is that Jiang left the hedge fund in March to pursue other interests (a chain of beauty parlors and a line of naughty lingerie). Those with their fingers on the pulse of cross dressing, however, tell us the parting was slightly less amicable, and may have had something to do with the previously $100 million/year Man becoming the Not A Single Profitable Trade Executed Woman. Not the woman part mind you, obviously SAC doesn’t tell people how to live their lives, just the terrible performance part. Reached at home, Jiang told us he didn’t have much to say, only that he never realized “Just how cruel hedge funds are to women. Use them up and throw them out. I guess you could say the first place I went wrong was depending on the kindness of Big Guys.”