Posts tagged ‘SAC CAPITAL’

Fork in the road

Whither Insider Trading?

A precise definition, an absolute prohibition or something in between?

Two senior hedge fund managers slip out of their insider trading convictions because the government couldn’t prove they knew whether the corporate insiders who initially divulged the tips they ultimately traded on were paid off for doing so.

Storm Clouds over New York City Skyline

Hedge Funds in the Doldrums

The deflating effects of underperformance and overregulation

Warren Buffet’s wager with Protégé Partners epitomizes the gloom hovering over the hedge fund industry.  In 2008, the Oracle of Omaha bet the New York-based fund-of-funds $1 million that index funds would outperform hedge funds over the next 10 years. 

Businessman at Card Table

Stevie Cohen’s Big Bad Bet

Risks his $15 billion hedge fund to avoid a huge loss

They were SAC Capital’s largest equity positions when Stevie Cohen sold $700 million and shorted $260 million of Elan and Wyeth stock in July 2008, just before the two pharmaceutical companies announced disappointing results in the Phase II clinical trial of bapineuzumab, their jointly-developed Alzheimer’s drug.