Businessweek Article: Steve Cohen
- Thread starter goldenarm
- Start date
He was interviewed by Jack Shawagger. Back then, the interview centered around his obsession about the markets, looking at tons of charts, getting an edge, and using similar tactics as other Market Wizards.
If you're throwing around $150 million in commissions, that should buy you an incredible edge. Wasn't it 13% minus his 50% fees? 63% is a world class return, especially on $4 billion!
If you're throwing around $150 million in commissions, that should buy you an incredible edge. Wasn't it 13% minus his 50% fees? 63% is a world class return, especially on $4 billion!
It's 1/2 the profits, not a 50% vig... LOL
"Critics claim that Cohen operates what they call a "reverse desk." Former traders say it works like this: The firm purchases a relatively small amount of the stock, then starts selling it off through various Wall Street brokers. "When word gets out that SAC is selling, the Street goes nuts and also starts unloading big blocks," says one. Then Cohen swoops to buy. Sources familiar with SAC say that this type of trading or a reverse desk have never existed."
Jeezy peezy, I've never seen that type of trading before.
Jeezy peezy, I've never seen that type of trading before.
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Marketsurfer is right, great motivating read !
Trading approximately 3% of NYSE total volume, & 1% of NasdaQQQ opens a lot of doors no doubt for Mr.Cohen & hedge fund.Business week mispelled Nasdaq.
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Interesting the number 666 came up somehow on my truck insurance policy this year.
To add insult to injury the policy came up a few buck HIGHER than quoted. Got the number lower than the original quote by insuring myself on the car rental reimburse.
