Steve Cohen on 60 Minutes now

http://www.cbsnews.com/stories/2006/03/24/60minutes/main1438812.shtml

this is a transcript.

I suggest you read the Biovail complaint. It spells out what happened, and yes, if the allegations are true, they broke a myriad of laws, securities and criminal.

Look for Tasr and Mso to follow suit, IMO.

The affiants pictured swore to the
Feds under oath. THis is a serious time for the Street. Per Biovail complaint, SAC has 7 bb, pays 150mm in commish, and does 3% of the NYSE vol and 1% of the NASDAQ daily. If they go down, the tidal wave will be huge.
 
At the very least, the Securities and Exchange Commission should look into it. Specifically, on the insider trading aspect of it.
Not defending Biovail or its Chairman. Missing earnings will make a stock go down but, using insider information crosses the line!!!
There is not much small investors can do when the big fry do their dirty deed!!! I lost some money on HIFN on which Milberg Weiss settled with the accused. They got most of the 10 million.
I would have gotten $150 and did not even bother filling up all the cumbersome forms!!! Only consolation I got is that atleast, the accused had to spend fees for lawyers and the 10 million he had to shell out!!! I am glad atleast, some of the crooks are winding up in jail!!!!
 
My story: last year when I was searching SEC site I found out that SAC was a big investor in an OTCBB stock call Chardan China Acquisition Corp. I was surprised how could a big name SAC be interested in a no name OTCBB firm [which at that time was planning to acquire a Chinese seed company]? The chart was, well, not too bad but the volume was thin. I tested water with 500 shares which now has gained 120%. The company now is NasdaqNM listed SEED.

Tasting the fruit, I search and invested in Chardan II and Chardan III funds, both traded on OTCBB. I am up 45% on Chardan II, and 30% on Chardan III. However early investors in Chardan II is by now up 300+%, and Chardan III 150+%. If you invested in IPO.

I plan to invest in Chardan IV soon. :D
 
IF the markets all collapse sometime over the next several years they'll look for scapegoats and fall guys.

I reckon this Cohen guy will be one of them however much money he's got and however much money he's paid out.
 
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