Businessweek Article: Steve Cohen

Funny how Business Week finally picks-up on Stevie Cohen and says that he is the "most powerful trader on Wall Street that you never heard of . . ."

Give us a break.
Stevie Cohen has been hitting "Grand Slams" for the past 5 years now. His performance in the late 90's is well known to anyone on an institutional sales/trading desk.
 
Quote from TruthTeller:

And what's even more interesting is that Cohen posts here on EliteTrader under the handle Gordon Gekko. Really, no kidding.
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And the old broad who calls herself "Gordon Gekko's Mother" is really Mrs Cohen?
 
Quote from Foz:



From the article it sounds like the pay, stress, and turnover is pretty high among SAC employees.
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I was let go cuz I was the low man on the board. During my time I made 300K and I guess it wasn't enough for him or he didnt like my attitude.

you know he is a spitting image of george castanza
 
How the hell do you earn JUST 13% when you have information before people do?

Correct me if I am wrong, but how hard is it to buy/short sector's leading and laggard stocks BEFORE analysts' upgrade/downgrade?


Sounds like cheap easy money to me. 13%...that's just pathetic. Give me the same info and I turn a billion in no time.
 
You're forgetting that it's 13% on 4 BILLION $!!!! That's still pretty awesome! I mean, you can't exactly throw a $4 billion order in the market without showing your hand and getting yourself screwed by the vultures and hangers-on who scrutinize your every order.
 
Cohen averaged 40%+ in previous year with roughly the same nominal principal. According to the article, he's "disappointed." I would too! (with that kind of information).

There are tons and tons of upgrades/downgrade/recommendations. $4 billion is pocket change in this market .. relatively speaking of course.

Ivan Boesky made a fortune getting insider info. Cohen's info is a bit different but the effects are still the same. Adding is the fact that the market is increasingly becoming more reactive to analysts' report.

Any modicum of pre-announcement info literally means arbitrage profits.


Quote from goldenarm:

You're forgetting that it's 13% on 4 BILLION $!!!! That's still pretty awesome! I mean, you can't exactly throw a $4 billion order in the market without showing your hand and getting yourself screwed by the vultures and hangers-on who scrutinize your every order.
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I'm still impressed. Buying or selling based on an anticipated upgrade/downgrade is still a 50/50 proposition based on my experience. Knowing a rating change a few hours (or days) before the public is NOT a sure thing!
 
Quote from goldenarm:

I'm still impressed. Buying or selling based on an anticipated upgrade/downgrade is still a 50/50 proposition based on my experience. Knowing a rating change a few hours (or days) before the public is NOT a sure thing!
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Huh?

Let me have that not so sure a thing!

nitro :eek:

BTW, your number of posts as I write this is 666 :eek:
 
Quote from nitro:


Huh?

Let me have that not so sure a thing!

nitro :eek:

BTW, your number of posts as I write this is 666 :eek:
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I bet you had that number of the beast too somewhere in the past :p (and some other mega-posters as well)

Wait a second, does this mean we all have that potential beast deep inside of us? :eek:
 
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