Steve Cohen Feels The Wrath Of East Hampton Aesthetics Committee

The hedge fund manager has offended his neighbors' eyes.

Point72 Asset Management's plans to open a gated satellite office in East Hampton have reportedly hit the skids.

Mr. Cohen, whose old firm was under legal scrutiny for many years by both the United States Justice Department and the Securities and Exchange Commission, is now taking on another governmental agency: the East Hampton Town Planning Board. He has built a gated fence in front of his new branch office, at 203 Pantigo Road in East Hampton, the former Wei Fun restaurant, that has raised the eyebrows of several planning board members. The offending structure is a six-foot-tall chain link fence with a cedar facade. It was built without site plan approval. “Character is very important to this town,” Nancy Keeshan told her fellow board members, and Alexander Baranovich, an architect who is representing Mr. Cohen, on Feb. 9. The gate, she said, “is not friendly” to the rural character of Pantigo Road...Mr. Baranovich suggested that Mr. Cohen may be a bit “paranoid” at this point about outsiders.

Naturally we'll keep you abreast of any important developments as the story unfolds.

Hedge Funder’s Gate Not ‘Friendly’ [East Hampton Star via Alexandra Stevenson]


Steve Cohen Gives 215 Million (And Counting) Fingers To The Universe

In the news this week you will find two stories of men soothing what ails them through retail therapy: that of Friday Night Lights writer Buzz Bissinger, who confessed in the pages of GQ to spending over $600,000 at the House of Gucci in a leather fetish/bondage binge that resulted in him coming to own 'eighty-one leather jackets, seventy-five pairs of boots, forty-one pairs of leather pants, thirty-two pairs of haute couture jeans, ten evening jackets, and 115 pairs of leather gloves' and Steve Cohen, who will not be held down by SEC settlements topping half a billion dollars or bulls-eyes on his back. Earlier this week it was reported that the SAC Capital founder had picked up Picasso's Le Rêve for $155 million as "a gift to himself" and now he's got a place to put it:

New York Mets Might Want To Savor Their Time Under The Tutelage Of Steve Cohen

...because they're about their last! SAC Capital Advisors founder Steven Cohen is the front-runner to purchase the Los Angeles Dodgers. Reports earlier this week indicated that Cohen's bid for the baseball team was a couple hundred million dollars less than that made by former baseball executive Stan Kasten and Los Angeles Lakers legend Magic Johnson. But Cohen's bid now matches the Kasten-Johnson offer of $1.6 billion—and at least half of Cohen's purchase price would come in the form of cash. Indeed, Cohen, who last month bought a small stake in the New York Mets, which he would have to give up if approved to buy the California team, may already be planning for the Dodgers' future. He has reportedly spoken with former Major League manager Tony La Russa about taking the team over under a Cohen regime. [FinAlternatives]