pretty devastating cohen article

So all that $616 mill fine didn't buy immunity from prosecution? That is money badly spent and too early celebration:

" A week after the settlement, news broke that he had paid the casino owner Steve Wynn an astounding $155 million—a record sum for a U.S. collector—to buy Picasso’s Le Rêve (which Wynn had accidentally put his elbow through in 2006). "


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The 4 most dangerous words in the HF industry: "politically ambitious U.S. attorney"
 
another proof that WS can't make a money off the market without some sort of 'advantage'. either technical + regulatory as in case of HFT or just plain insider trading.
 
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Quote from Vanity Fair

"...There’s also an argument that it simply doesn’t make sense that a guy as smart as Steve Cohen, a guy who knows that the government has been watching him for years, a guy who already has more money than God, would ever take the risk of using inside information on such a huge trade.

No, it doesn’t make sense—unless you believe that Cohen, when faced with the choice of winning or losing on a big bet, simply couldn’t stop himself from choosing to win. Just as in the old fable of the scorpion and the frog, that’s his nature."
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Or as a friend of mine reminds me "The hardest thing in the world is to keep pigs away from a trough."
 
Martoma will be the shot that sinks SAC. Great article and VF does a great job. The rumor is that SAC will return 100% of outside capital some time in 2013.
 
Quote from piezoe:

______________________________
Quote from Vanity Fair

"...There’s also an argument that it simply doesn’t make sense that a guy as smart as Steve Cohen, a guy who knows that the government has been watching him for years, a guy who already has more money than God, would ever take the risk of using inside information on such a huge trade.

No, it doesn’t make sense—unless you believe that Cohen, when faced with the choice of winning or losing on a big bet, simply couldn’t stop himself from choosing to win. Just as in the old fable of the scorpion and the frog, that’s his nature."
_____________________________

Or as a friend of mine reminds me "The hardest thing in the world is to keep pigs away from a trough."
More...

The same thing happened with Raj Rajaratnam and Galleon Group.
A totally legit fund, and then Raj got into this competitive "game" with others about who could obtain the BEST information.

Ego, Ego, and more Ego.
Sinks ships.
 
Quote from atticus:

Martoma will be the shot that sinks SAC. Great article and VF does a great job. The rumor is that SAC will return 100% of outside capital some time in 2013.
More...

Question is, willing sinking SAC also sink Cohen? Or, is he insulated enough?
 
Quote from atticus:

Martoma will be the shot that sinks SAC. Great article and VF does a great job. The rumor is that SAC will return 100% of outside capital some time in 2013.
More...

The best writers in the world--- bar none. surf
 
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