Wall Street Folly

• Tim’s troubles
• Bank of America Expects Record Bonuses for Some Staff
• For BofA Investment Bankers, Bonuses Likely Close to 2007
• Ex-Consultant Pleads Guilty in Galleon Insider Case
• Goldman Sachs Board Sued Over Co.’s Bonuses, Compensation
• SAC Analyst Linked in Case of Banker at Blackstone
• Swiss Regulator Broke Law on UBS Client Disclosure Read the rest of this entry »

Tags: Bank of America, Bonuses, Goldman Sachs, Hedge funds, Insider Trading, Merrill Lynch, NBC, SAC Capital, TV, UBS

• Billionaire’s Ex-Wife Hires New Lawyer in Civil Suit
• Goldman Sachs teams could quit the City over taxes and regulations
• Bonus tax provokes new action
• Harvard’s Feldstein: Risk Economy Will Run Out Of Steam In ‘10
• Bernanke calls for stronger financial regulation
• Fed Chief Edges Closer to Using Rates to Pop Bubbles
• ‘Avatar’ Is Top Film, Nears $1 Billion Sales Mark Read the rest of this entry »

Tags: Ben Bernanke, Bonuses, Economy, Fed, Goldman Sachs, lawsuits, SAC Capital, Steven A. Cohen

OMG! This is priceless.  Here’s a  video gem excerpt of SAC Capital’s Steven Cohen — with a full head of hair — and his wife Alex, a month into their marriage, as they appeared on the talk show “Christina” in a 1992 segment entitled “He Acts Like Her Husband, Too”.  They discussed how he was still involved with his ex-wife  Patricia (and apparently still sleeping with her some of the time, though that’s not included in the video excerpt).   Sex with the  former Mrs. Cohen ended after he and Alex got engaged.  During his marriage to Patricia, Cohen admitted there were some “financial difficulties”.   Cohen starting SAC Capital in 1992 — the same year as the below footage.   Now his  ex is suing him for guzillions and alleging that he engaged in insider trading.

Read the rest of this entry »

Tags: Bitter exes, Divorce, Hedge funds, Insider Trading, Lawsuit, SAC Capital, Sex, Steven A. Cohen, TV, Videos

• Steven Cohen’s ex-wife dished to FBI
• Finra Probes Wall Street’s Trade Huddles
• Last Days of BofA’s Hunt For a CEO: Pay, Politics
• Banking Panel Backs Bernanke for New Term
• Discord Behind TARP Exits
• Pimco’s Gross Boosts Cash to Most Since Lehman Failed
• Harvard Swaps Are So Toxic Even Summers Won’t Explain
• Judge sets January 2011 trial for Stanford defendants
• TCW defections reach 40
• Bing! Information Designs sues Microsoft for trademark Read the rest of this entry »

Tags: Allen Stanford, Ben Bernanke, Fed, FINRA, Harvard, Microsoft, Pimco, Revolving Door, SAC Capital, Steven A. Cohen, TARP, TCW

• As Goldman Thrives, Some Say an Ethos has Faded
• An Unwelcome Spotlight Falls on SAC Capital
• Person of the Year 2009: Ben Bernanke
• Citigroup Says Abu Dhabi Seeks to End Share Purchase
• Citi: Abu Dhabi Investment Authority Claim Without Merit
• A Tax Break for Citigroup With Payback of Bailout
• Fed May Raise U.S. Economic Assessment, Affirm Near-Zero Rates
• Rajaratnam, Chiesi Indicted for Conspiracy, Fraud
• Credit Suisse to Pay U.S. $536 Million in Iran Probe Read the rest of this entry »

Tags: Abu Dhabi, Ben Bernanke, Citigroup, Credit Suisse, Fed, Galleon, GM, Goldman Sachs, Microsoft, Politics, Raj Rajaratnam, SAC Capital, Sovereign wealth funds, Steven A. Cohen, Taxes

• SAC Capital Ex-Analyst Under Probe in Inside Case
• Ex-Balyasny Analyst Linked to Fortuna in Galleon Trading Case
• In Charity Tax Filing, a Glimpse of Goldman
• Bear Stearns Loss Echoes Long Line of U.S. Prosecution Defeats
• Feds may change tactics after Bear
• Billionaire Bill Gates says Wall St pay too high
• White House Aims to Cut Deficit With TARP Cash Read the rest of this entry »

Tags: AIG, Bear Stearns, Galleon, Gold, Goldman Sachs, Hedge funds, Insider Trading, Legal, Philanthropy, Politics, SAC Capital, TARP

The NY Observer has a piece on Julie Macklowe, the 31 year old high fashion socialite wife of Billy Maclowe (of the real estate family).  A ‘99 graduate of UVa, she did LBO’s (in some unstated capacity), then worked for Metropolitan Capital, landed at one of Steve Cohen’s funds at  SAC Capital — Sigma Capital  — as a portfolio manager and was ultimately laid off when the economy fell apart.   Now’s she’s seeded with $250 million from Millennium Capital’s Izzy Englander at her own firm, Macklowe Asset Management (JMACK Capital).   And she wears lots of designer labels.   Zac Posen.  Chanel. Balenciaga.  Dolce & Gabbana. She wears thigh high boots.   And she’s been known to dress outrageously in Lady Gaga-esque get ups (“a pant-less Lady Gaga look with the Rodarte blazer and Chanel combat boots”).  Does she make money?  Who knows — the article doesn’t really go into that.  But her specialty is retailers (who knew?), and they’ve mostly rocked this year. Read the rest of this entry »

Tags: Fashion, Hedge fund chicks, Hedge funds, SAC Capital, Steven A. Cohen, Women

• Probe Widening in Galleon Case
• Galleon Wiretaps Rattle Hedge Funds as Insider Trading Targeted
• Galleon ‘given inside information about Intel as far back as 1998′
• Learning To Love Insider Trading
• ‘Outsider Trading’ and Too Much Information Read the rest of this entry »

Tags: Galleon, Hedge funds, Insider Trading, Liquidations / implosions, Raj Rajaratnam, SAC Capital

• Morgan Stanley In Hiring Push To Jump-Start Trading
• F.D.I.C. Seeks to Attract More Buyers of Banks
• Fed Assets Increase 2.3% on Buying of MBS, Treasuries
• Rise of the Super-Rich Hits a Sobering Wall
• Biovail Suit Against SAC Capital Thrown Out by Judge
• AIG Says Madoff Suit Without Merit
• Switzerland Sells Stake in UBS for a Profit Read the rest of this entry »

Tags: AIG, Autos, Bernie Madoff, FDIC, Fed, GM, IPOs, KKR, Morgan Stanley, Revolving Door, SAC Capital, Sports, Starbucks, UBS, We're Hiring, Wealth

Charlie Rose interviewed casino king Steve Wynn.  Among the topics, which of course included the difficulties that the casino industry currently faces, was his now famous elbowing of one of his paintings, La Reve, which he had sold to SAC Capital’s Steve Cohen:

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Tags: Art, Casinos, SAC Capital, Stave Cohen, Steve Wynn

FINalternatives has culled through the Forbes list for all of the alternative investment guys who are represented.  Notably missing: Allen Stanford.  Here's the list:

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Tags: Allen Stanford, Avenue Investments, Bruce Kovner, Carl Icahn, Citadel, DE Shaw, Eddie Lampert, George Soros, Harbinger, Hedge funds, Henry Kravis, Highbridge, Jim Simons, Leon Black, Private equity, SAC Capital, Sam Zell

CNBC intervewed Bethany McLean, who penned the must read Vanity Fair piece entitled "The hedge-fund time bomb: Over the hedge"

Tags: Citadel, Fortress, SAC Capital

In a refreshing contrast to the scores of funds, large and small, that have locked the gates to prevent investors from withdrawing their cash, SAC Capital is actually letting people withdraw early if they so choose….

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Tags: Credit Crunch, Hedge funds, SAC Capital

The 13F hedge fund chart studies we track were updated over the weekend.  You can find them here.

Tags: 13F Charts, Appaloosa, Atticus, Baupost, Carl Icahn, Clarium Capital, Dan Loeb, Dave Tepper, Farallon, George Soros, GLG Partners, Greenlight Capital, Harbinger, Hedge funds, MatlinPatterson, Maverick Capital, Och Ziff, Passport Capital, Paulson & Co, Pequot Capital, Perry Capital, Philippe Jabre, Ramius, SAC Capital

Here are charts for the top 200 stocks (of around 568) in the recently released 13F for
Steve Cohen's SAC Capital.  Note that SAC has been said to have closed out
many of its positions and moved largely to cash since the filing was made. 
So take it for what it's worth.

Read the rest of this entry »

Tags: 13F Charts, Charts, Hedge funds, SAC Capital

While many hedge funds are getting materially smaller from big losses and redemptions this year, there are a few that have been able to raise money.  According to Bloomberg, funds raking in billions include SAC Capital, Greenlight Capital, Elliott Managemet and Brevan Howard….

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Tags: Brevan Howard, Elliott Associates, Greenlight Capital, Hedge funds, SAC Capital

• Hedge funds fear bankruptcy after Porsche squeeze
• Porsche and VW share row: how Germany got revenge on the hedge fund 'locusts' 
• German regulators cringing after Porsche debacle
• Now Porsche should concentrate on carmaking
• VW and hedge funds: Squeezing the accelerator

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Tags: Hedge funds, SAC Capital

According to WSJ sources, those caught in the move include Greenlight Capital, SAC Capital, Glenview Capital, Marshall Wace, Tiger Asia, Perry Capital and Highside Capital.

Tags: Greenlight Capital, Hedge funds, Perry Capital, SAC Capital

With all of the turmoil and new game changers appearing when you least expect
it causing tremendous market volatility, some of the best known hedge funds have been heading for cash for the year’s final stretch.  Some of
those stuffing the mattresses are SAC Capital’s Steve Cohen, Millenniumm
Partners’ Izzy Englander, and Paulson Capital’s John Paulson.

While that might be prudent, at least for the short run, that’s not why most
funds get paid the big bucks, especially with what’s paid on cash these
days.  Those guys will probably be able to get away with it since even
through the turmoil, they’ve fared better than most.  However, if smaller
funds try it, they might not be so successful.  In the hedge fund world,
it’s a game of ‘use it or lose it’ if you’re not justifying those fees.

Read the rest of this entry »

Tags: Fees, Hedge funds, Izzy Englander, Paulson & Co, SAC Capital

According to the Wall Street Journal the SEC has subpoenaed over 50 hedge
funds in their quest to find out if there were false rumors spread, leading to
the demise of Bear Stearns and the plunge in Lehman Brothers shares.  The
firms subpoenaed may or may not be the focus of the probe; they were asked for
information regarding their trading in the securities of BSC and LEH, as well as
correspondences between hedge funds and others.  Reportedly among the
names: SAC Capital and Citadel. 

Hedge Funds Subpoenaed in SEC Probe – Wall Street Journal

Tags: Bear Stearns, Citadel, Hedge funds, Lehman Brothers, SAC Capital

All charts were updated for the last trading day of last week, 7/3

Tags: 13F Charts, Appaloosa, Carl Icahn, Charts, Dan Loeb, Dave Tepper, Eton Park Capital, Farallon, Greenlight Capital, Harbinger, Hedge funds, John Burbank, MatlinPatterson, Metropolitan Capital, Och Ziff, Passport Capital, Paul Tudor Jones, Paulson & Co, Perry Capital, Philippe Jabre, SAC Capital

Even some of the largest, most well heeled hedge funds are doing less bond business these days.  So if you’re looking for a job on that side of the business, other than the new distressed funds that may be hiring, pickings may be slim.  BreakingViews reports in the WSJ that even Stevie Cohen’s $16 billion SAC Capital has gotten rid of many of its bond geeks, with a more narrow focus on fixed income and that may reflect more pervasive hedge fund trends…

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Read the rest of this entry »

Tags: bonds, Hedge funds, Revolving Door, SAC Capital

We updated all of the 13F charts this weekend.  In addition, Soros’ top 200 positions have been added, as well as Blue Ridge Capital.

The link is here.

Tags: 13F Charts, Appaloosa, Avenue Investments, Bill Ackman, Carl Icahn, Charts, Dan Loeb, Eton Park Capital, George Soros, Greenlight Capital, Harbinger, Jana Partners, John Burbank, MatlinPatterson, Metropolitan Capital, Och Ziff, Passport Capital, Paul Tudor Jones, Paulson & Co, Perry Capital, Philippe Jabre, SAC Capital

We’ve added the following 13F chart studies:

• Marc Lasry’s Avenue Capital
• Eric Mindich’s Eton Park Capital
• Philippe Jabre’s Jabre Capital
• Stephen Mandel’s Lone Pine Capital
• Bill Ackman’s Pershing Square Capital
• Paul Tudor Jones’ Tudor Investment Corp

All of them can be found here.

In addition, all of the original chart studies were updated as of Friday’s close.  They can also be found at the above link.

Tags: 13F Charts, Activist Investing, Appaloosa, Atticus, Bill Ackman, Carl Icahn, Eton Park Capital, Greenlight Capital, Harbinger, Hedge funds, John Burbank, Lone Pine Capital, MatlinPatterson, Metropolitan Capital, Och Ziff, Passport Capital, Paul Tudor Jones, Philippe Jabre, SAC Capital

Here’s a link for the new index page that shows all of the hedge fund 13F’s that we’ve added, as well as the date that they were last updated.  We’re gonna try to update them at least once a week on a rolling basis, and especially on days the the market has a big move.  There’s a permanent link near the top of the right hand column.

Tags: 13F Charts, Atticus, Harbinger, SAC Capital