What Could Steve Cohen Possibly Have Meant When He Told CNBC "You Don't Want To Talk To Me, I'm On The Way Down?"

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Earlier today on Squawk on the Street, CNBC showed footage of Steve Cohen at Davos. "We caught up with the legendary investor at breakfast this morning," it was teased. "He told us 'You don't want to talk to me, I'm on the way down.'" Now the kind of people who think a hedge fund manager would tell a cameraman the Feds are on his ass are wondering if he was hinting at something! Indeed, we're thinking he was! Gather round, 'cause this is a huge scoop you're not gonna wanna miss.

And that hint was: "Fuck off, CNBC. I'm having a conversation here."

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New York Times Finds A Weird Way To Kick Steve Cohen When He's Down

As you may have heard, things have not been going tremendously well for Steve Cohen of late. Two days before Thanksgiving, the government went public with its case against a former SAC Capital employee, Mathew Martoma, who it accused of masterminding the largest insider trading scheme ever. Cohen was neither charged nor mentioned by name in the criminal complaint, but he did make an appearance playing the role of "Portfolio Manager A," a part we have previously mentioned one does not want to portray, if it can be avoided. Then on Wednesday, it was disclosed that SAC had received a Wells notice, indicative of the SEC's plan to sue the fund and if that wasn't enough, sources also claimed investigators are considering naming Cohen personally in the suit, to boot. So things are not exactly going his way right now and what he could really use is a break. The government dropping all charges against Martoma and publicly stating it will stay out of the Big Guy's business forever starting right this second seems out of the question but even some small act of kindness would probably help. Allowing him to pass you on 95. Telling him he looks nice today. Asking, "Have you been working out?" Sending him humorous YouTube videos with a sweet note like, "Hang in there, bud. You're in my thoughts..." On the flip side, you know what he doesn't need? Wildly libelous claims that it's going to take a lot more than a "Correction" to forgive.

Art World's Reactions To Steve Cohen Woes Range From "I'm going to begging for change outside the Staples Center" To "NBD"

Time was, Steve Cohen told the Feds where they could go. No matter how much heat they put on him, the Big Guy would not burn. If they wanted to relentlessly circle him in an attempt to find evidence of insider trading, that was fine by Steve. But he wasn't going to act like he gave a rat's ass and he certainly wasn't going to wilt under the scrutiny or draw the blinds at Casa Cohen and curl up in a ball to cry. This time two years ago, despite SAC receiving a subpoena from the government, the FBI raiding the firms of several former SAC employees, and an analyst being asked to wear a wire while chatting him up, Cohen not only hopped on a private plane to attend Art Basel, but he did so with a smile on his face. ("Cohen," the Journal reported, was in "jovial spirits and eager to chat about his fresh art acquisitions," which included a "large-scale map of the world made from tin cans" that he bought in the first five minutes of the fair opening.)  And while one could argue that the heat on Steve has been cranked up quite a bit more since then, we assumed he was dealing with it in typical Steve fashion, and would make it to Miami like always. So it was particularly troubling to hear this:

Steve Cohen Bought Himself A Little Pick-Me-Up

As you may have heard, the last number of months have been a bit tough on hedge fund manager Steve Cohen. In November, one of his former employees, Mathew Martoma, was accused of orchestrating "the most lucrative insider trading scheme ever," in a criminal complaint in which Cohen was referenced as Portfolio Manager A. A week later, the Times lopped 21,000 square feet off his house. Earlier this month, he had the pleasure of setting the record for the largest insider trading fine ever, at $614 million, a sum that does not even put this whole thing behind him, as the settlement "doesn't preclude the Securities and Exchange Commission from pursuing Cohen himself in the future." So you'll excuse the Big Guy if he felt the need to indulge in a little retail therapy recently.