SAC Capital Advisors indicted by a federal grand jury

nitro · Jul 25, 2013

http://www.cnbc.com/id/100900245

Asta la vista, baby.

Grandluxe · Jul 25, 2013

Why not turn it into a family office? Cohen, himself is not hammered by the charges.

nitro · Jul 25, 2013

Quote from Grandluxe:

Why not turn it into a family office? Cohen, himself is not hammered by the charges.

Because if you are insider trading on your own money, then you no longer have deniability and you are the one that goes to jail. But sure, if he is on the level, he sure has the means to do anything he wants.

d08 · Jul 25, 2013

Funny, some ET clowns are still defending SAC. Cohen is as rotten as they come. The "Cohen had no idea" defense is equally as dumb, I'm sure Enron execs are innocent as well - it was the accountants!

http://dealbook.nytimes.com/2013/07/19/the-things-traders-say-the-sac-edition/

Whistlingleaf · Jul 25, 2013

So SAC is ~15B and 10B is Cohens - if that other 5B gets taken out of the fund some of the stocks he owns a high percentage of might get beaten down

http://www.cnbc.com/id/100900242?__source=yahoo|finance|headline|headline|story&par=yahoo&doc=100900242|SAC+Capital%27s+biggest+pos

CLW 7.4% which is ~1.6m shares - avg daily volume is 160k

nitro · Jul 25, 2013

Quote from Whistlingleaf:

So SAC is ~15B and 10B is Cohens - if that other 5B gets taken out of the fund some of the stocks he owns a high percentage of might get beaten down

http://www.cnbc.com/id/100900242?__source=yahoo|finance|headline|headline|story&par=yahoo&doc=100900242|SAC+Capital%27s+biggest+pos

CLW 7.4% which is ~1.6m shares - avg daily volume is 160k

People are trying to figure out how to ride the waves of unwinding of postions.

Peternam · Jul 25, 2013

Do you think Cohen will go to jail ?

newwurldmn · Jul 25, 2013

no. he's white and jewish.

if he were brown and sri lankan/indian....

Grandluxe · Jul 25, 2013

Maybe that's why volume is so low these few days. Doesn't SAC do something like 10% of total NYSE volume?

pikachu9 · Jul 25, 2013

You wonder if having SAC Capital on the work history looks bad on a resume now.
Maybe some new traders to join EliteTrader?