Steve Cohen Sac Capital Facts About the Most Scandalous and Profitable Hedge Fund.
It is true that scandal and profit go hand in hand. The first fact is that SAC Capital International, Cohen’s flagship fund, was the world’s most profitable hedge fund in the first 10 months of 2012, earning $789.5 million for Cohen, 56, and his managers, according to Bloomberg Markets’ annual ranking of hedge funds. But before you want to walk a mile in his shoes lets take a look at what this guy has to put up with day to day and some other kinky facts about his life. Now lets get down and dirty and look in to the less glamoros side od Stevie’s life.
1. Steve Cohen has extremely vicious ex who almost annualy hits him with another lawsuit. This curly haired grazy ex is trying to prove that Steve Cohen was hiding assets from her and told her about insider trading in dinner table. Besides faililng every time she has no plan to give up. Read moer about ex wife and lawsuits here. But a kinky rumor is that Stevie did sleep with both of his wives while divorcing.
2 Female Hormones
SAC trader forced to take female hormons to trade better- to eliminate the trader’s aggressive male attitude so he could become a more obedient and detail-oriented player in the $2 trillion hedge fund world.
The trader, Andrew Tong, had studied for his doctorate in computer science at Columbia University, and his boss, Ping Jiang, also was a computer brainiac who pioneered the use of computer-run “macro trading,” which hedge funds wield to move global markets in just seconds.
They met nine years ago as young traders at Lehman Brothers, and moved on to other top firms over the years, all the while remaining friendly and occasionally socializing. They reunited a year ago at SAC.
Tong, who was fired from hedge fund SAC after his allegations were filed, remained in seclusion with his wife in their swank condo tower in Newport Center in Jersey City. Read more
3 Insider trading charges
Last but not least the insder trading charges. We all remember the lasinsider trading cxase of SAC portfolio manager Maratoma pleading not guily but SAC Capital has been hit with insider trading charges well before Maratoma even finished highschool. Matthew Martoma made profits and avoided losses totaling $276 million on trades involving two pharmaceutical stocks — Elan Corp. and Wyeth — between 2006 and 2008, it is charged. FBI noted Matthew Martoma made a 20-minute call to Cohen regarding the trades. Steve Cohen, who has not been charged with any crime or civil violation, is one of the wealthiest hedge fund hot shots — and is also the subject of a federal probe that has fascinated Wall Street for more than two years.