Anyone ever heard of Steven Cohen????

Quote from OldTrader:

This statement is not true.

We're talking about an analyst here....not an "insider". Passing on an analyst view of a company would not be "insider" information. By the way, this one has been tested in court...ie the Ray Dirks case.

And in the unlikely event that an analyst possessed insider information it would be "insider information" whether it be the first call, or the second, or the third.

At this time there is no law at all against choosing which clients to call first with analyst information.

Finally, there are large numbers of people who even if they got the "first call", would not know what to do with it. Today for instance, semiconductors were downgraded. If you got the "first call" on that information what would you have done?:D The correct answer is "buy". Even if you get information first, you still have to decide what the "crowd" will do with the information. And there are times when this may not be clear. Alot of the time it depends on whether traders are long or short as to how the stock will respond. So using information takes some talent, even if you're getting the first call.

OldTrader
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Let's be serious. There is only so much you can do with publicly available info even if you get a few min before the majority. The returns of Cohen (assuming no big exxagerratoon) are beyond what getting your info a few min before the other funds can do.

I'm sure there are quite a few fund managers that have the same contacts and leads for info, as well as getting first call. It's just too competitive to simply be able to get first call and make such great returns. Trading on info may take skill but is nowhere near rocket science. I have only recently started trying to trade news and to be honest, it's really not that hard if you are quick to get the info and place ur orders (as well as actually getting filled good). I'm sure Cohen has good relations with the specialists and MMs and prob pays them a nice commission to make sure he can get good prints.

So the only way to get a true edge in this information game is to start crossing the line.
 
... & Cramer are rumoured to be the same as Cohen, buying the first call. For what it's worth.

The premise of securities law is to create a "level playing field". It is a flawed premise that can sometimes be a false security blanket for the Average Joe. The playing fields are not and probably never will be level.

That these guys play with an informational advantage shouldn't take anything away from their skill - creating and maintaing such an edge is enormously challenging and not as simple as slipping your broker a few thousand dollars.
 
After all the useless posts here, no one still posted the kinds of returns this guy earns for his fund. Anyone actually know how good he is????
or is everyone just believing what they hear from people who know as much as they do?
 
Quote from waggie945:

Tell you what?

If you want to know his performance so bad, why not subscribe to www.hedgefund.net for $2500.00 and find out for yourself!
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still not hearing any answers.

I've heard of these guys:

www.dimmp.com

these guys actually post their promised returns. They don't give much info on their site, but i've heard from other people that they don't B.S.

Yet Cohen i think made's his money not from skill, but from informats. There is a difference between skill and having "spies"!!!
 
SAC is different then most HFs. He employs many traders who trade their own book exclusivley using many different stategies.
Most funds rely on the stock picks of the PMs.
 
Double-digit returns every year since he started SAC Cap. His worst yaer, was a recent 13% or so. The fund is closed, and in fact he returned money to investors in the recent past. People aren't giving him 50% incentive fees for t-bill returns!

Keep in mind those returns while great numbers are in a billion+ fund. THat's not so easy. I've no doubt that he can probably do triple digit returns every year with a small capital base and no line to the info. edge.

THis whole informational edge thing is a big deal, however, he is known, by everyone who knows him, to be a great trader, with sick feel and great mkt/tape reading skills.


Quote from donaldduck3419:

After all the useless posts here, no one still posted the kinds of returns this guy earns for his fund. Anyone actually know how good he is????
or is everyone just believing what they hear from people who know as much as they do?
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Stevie Cohen has a trading floor of traders that would make your head "swim". . . As the previous poster accurately commented, they have their own "books" and "sectors" whereas a typical hedge fund has a portfolio manager that calls all the shots.

With an incentive fee as high as he has, how long do you think that he would be in business without performing the way that he has?

Think first, before talking like a QUACK, I mean DUCK!
QUACK QUACK QUACK!

:D
 
If you want to know his performance so bad, why not subscribe to www.hedgefund.net for $2500.00 and find out for yourself!
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I don't think SAC lists in the hedge fund databases -- no point really when they're all trading Stevie's and friend's cash and are turning away people who want in....
 
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