Parsad Posted January 11, 2013 Share Posted January 11, 2013 The music has stopped playing I guess! Cheers! http://finance.yahoo.com/news/sac-bracing-big-exodus-funds-071600406.html;_ylt=AirDCnTm_bbBnaZxIxjcPXyiuYdG;_ylu=X3oDMTRwb2NrNGdqBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yaWVzIG1peGVkIGxpc3QEcGtnAzllODI0ODhjLWY4MmMtMzZmMi04NjMyLWZlOWM4MDk1M2M5OARwb3MDNQRzZWMDTWVkaWFCTGlzdE1peGVkTFBDQVRlbXAEdmVyA2NjMWYwMjkzLTViZWMtMTFlMi1iNzk3LTdmODlkZWNkYWI5Zg--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3 Link to comment Share on other sites More sharing options...
Parsad Posted January 12, 2013 Author Share Posted January 12, 2013 HSBC tells clients to avoid SAC. Cheers! http://www.bloomberg.com/news/2013-01-11/hsbc-said-to-advise-wealthy-against-more-sac-investments.html Link to comment Share on other sites More sharing options...
eclecticvalue Posted January 12, 2013 Share Posted January 12, 2013 Getting a little bit of schadenfreude, I see. /justkidding Link to comment Share on other sites More sharing options...
berkshiremystery Posted January 12, 2013 Share Posted January 12, 2013 Lawyers Preventing Financial Advisors from Investing in SAC Capital 2013-01-11 FOX Business (Video 5:15min) http://video.foxbusiness.com/v/2088210328001/ Link to comment Share on other sites More sharing options...
berkshiremystery Posted January 12, 2013 Share Posted January 12, 2013 The ice is melting further beneath SAC.... Probation for Ex-SAC Analyst Who Cooperated in Insider Trading Inquiries 2013-01-09 NYTimes.com http://dealbook.nytimes.com/2013/01/09/probation-for-ex-sac-analyst-who-cooperated-in-insider-trading-inquiries/ ------- SAC analyst Wesley Wang, who helped government with insider trading probe, gets only two years probation 2013-01-09 NYPost.com http://www.nypost.com/p/news/business/sac_sentence_drops_hint_to_martoma_CPPV972H9kbITMUMJZHYfK ------ Former SAC analyst who cooperated with probe gets probation 2013-01-09 Reuters.com http://www.reuters.com/article/2013/01/09/wang-hedgefunds-idUSL1E9C99T820130109 ========= It seems they close an office to cut expenses... SAC to Close Chicago Office 2013-01-10 WSJ.com http://online.wsj.com/article/SB10001424127887323442804578234040466328894.html ----- SAC may lose $30 million in revenue amid withdrawals 2013-01-11 StamfordAdvocate.com http://www.stamfordadvocate.com/news/article/SAC-may-lose-30-million-in-revenue-amid-4187477.php#ixzz2Ho7RJIIh http://www.stamfordadvocate.com/news/article/SAC-may-lose-30-million-in-revenue-amid-4187477.php Link to comment Share on other sites More sharing options...
StubbleJumper Posted January 13, 2013 Share Posted January 13, 2013 Getting a little bit of schadenfreude, I see. /justkidding You've hit it bang-on. There's no "just kidding" about it. Some of us have trouble forgetting 2003. Frankly, SAC helped me make a pile of money, so... Same with John Hempton. However, I do agree with posts that ridicule Fabrice Taylor!!! Link to comment Share on other sites More sharing options...
siddharth18 Posted January 13, 2013 Share Posted January 13, 2013 I don't even get why he's panicking to keep money from leaving his fund. Him and his employees own over half of the AUM. And who cares if Cohen won't be able to keep existing money in the fund? Dude has made it by already amassing his billions. Not like he'll be sweating even a tad bit for the rest of his life. Link to comment Share on other sites More sharing options...
eclecticvalue Posted January 13, 2013 Share Posted January 13, 2013 Well I used /justkidding as insurance. If all of a sudden Parsad gets irked because I know he doesn't like SAC/ Steve at all. It goes to show doing unethical actions may pay in the short term but in the long term you will be eventually caught. Link to comment Share on other sites More sharing options...
Guest FFHfan Posted January 13, 2013 Share Posted January 13, 2013 It goes to show doing unethical actions may pay in the short term but in the long term you will be eventually caught. I agree :) Link to comment Share on other sites More sharing options...
Uccmal Posted January 13, 2013 Share Posted January 13, 2013 I don't even get why he's panicking to keep money from leaving his fund. Him and his employees own over half of the AUM. And who cares if Cohen won't be able to keep existing money in the fund? Dude has made it by already amassing his billions. Not like he'll be sweating even a tad bit for the rest of his life. I am not sure I would suggest he is panicking at all. However, I think he is looking at getting prosecuted for some of the biggest insider trades ever done. This will leave him wide open for massive fines, lawsuits to follow, and substantial jail time. The billions will quickly become millions. The shark is going to rot while he is in jail rotting himself. By any measure I have ever read he is a sociopath. In that culture, even his fellow investors (employees) are going to sue his ass off if they lose money, which they will. Link to comment Share on other sites More sharing options...
SharperDingaan Posted January 13, 2013 Share Posted January 13, 2013 Also keep in mind that the funds could be frozen at any time, & what escapes the trap becomes no questions asked bounty. Attracting all the best kind of friends, worldwide. Link to comment Share on other sites More sharing options...
siddharth18 Posted January 14, 2013 Share Posted January 14, 2013 Here's a quote from NYTimes (http://www.nytimes.com/2012/12/23/business/steven-cohen-of-sac-is-fascinating-to-investigators-too.html?pagewanted=all) I was looking for: As for Steve Cohen, he could walk away tomorrow, return every dime to his investors. And, barring the worst, he would be left, in quiet splendor, to trade with a fortune few can even fathom. Cheers! Link to comment Share on other sites More sharing options...
dcollon Posted January 24, 2013 Share Posted January 24, 2013 WSJ: Witness Adds Threat to SAC ProbeWitness_Adds_Thread_to_SAC_Probe_-_WSJ.pdf Link to comment Share on other sites More sharing options...
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