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Posts Tagged ‘SAC Capital’

Exclusive Frontline Video: Stevie Cohen Gets Grilled

Posted by Larry Doyle on November 6th, 2013 6:17 PM |

The saga of Stevie-boy Cohen of SAC Capital and the billion dollar plus fine his firm has just been tagged with is the stuff that sells books, papers, movies, and more.

Yet Cohen himself is largely a recluse. The folks at Frontline just released the following brief videos of Stevie-boy undergoing serious questioning regarding insider trading allegations and more at his firm.

This is truly riveting.

In a never-before-published video, hedge fund titan Steven A. Cohen, whose firm this week agreed to plead guilty to securities fraud, describes federal securities laws as “vague,” and asks for an explanation of the basic Securities and Exchange Commission rule that prohibits insider trading. (more…)

Poll: Should Feds Settle with ‘Stevie Boy’ Cohen?

Posted by Larry Doyle on September 24th, 2013 9:12 AM |

News breaks in the past 24 hours that one of Wall Street’s largest traders, “Stevie-boy” Cohen of SAC Capital, is now looking to cut a deal with the Feds. Is the heat in Stevie’s kitchen getting a little too hot?

As Bloomberg Businessweek reminds us:

After a multiyear investigation conducted by the U.S. Attorney’s Office, the FBI, and the Securities and Exchange Commission, a grand jury indicted SAC Capital on July 25, accusing the firm of fostering a culture where employees engaged in rampant securities fraud.

Now Stevie wants to play Let’s Make a Deal.  (more…)

“Stevie Boy” Cohen: Too Big to Prosecute?

Posted by Larry Doyle on March 18th, 2013 11:52 AM |

News released late Friday afternoon that the SEC has agreed to a settlement of $616 million with entities connected to SAC Capital is viewed as another indication that our financial police are playing hardball, right?

I mean $616 million is a lot of money, correct? Yes and no. Money is relative and playing hardball is in the eye of the beholder.

Did SAC and its founder Steven A. Cohen, aka “Stevie Boy” Cohen, just enter the realm of Goldman Sachs, JP Morgan, and the other heavyweights on Wall Street who have been defined as “too big to fail, to regulate, and to prosecute?”  (more…)

Hedge Fund Collusion to Pound Euro?

Posted by Larry Doyle on March 3rd, 2010 12:35 PM |

Meeting industry friends and colleagues for dinner, drinks, and market talk is standard fare. In fact, I would say it is good business as it is important to develop relationships within the industry.

That said, the development of these professional relationships and the interaction amongst the professionals should never come at the expense of professional ethics and integrity. I did witness more than a handful of times individuals from different shops on both the buy-side and the sell-side of the industry push the envelope very close and sometimes over that ethical line.

Not always, but very often, the ethical shortcomings involved hedge funds. Why? The revenue model for hedge funds (typically 2% asset management fee and 20% of profits derived) serves as a huge incentive for traders at hedge funds to gain an edge and act upon it as much as possible. The fact that the hedge fund traders and managers have a direct stake and an accompanying vested interest in the profits fuels this crowd like nothing else. (more…)






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