Businessweek Article: Steve Cohen

Discussion in 'Trading' started by goldenarm, Jul 12, 2003.

  1. Funny how Business Week finally picks-up on Stevie Cohen and says that he is the "most powerful trader on Wall Street that you never heard of . . ."

    Give us a break.
    Stevie Cohen has been hitting "Grand Slams" for the past 5 years now. His performance in the late 90's is well known to anyone on an institutional sales/trading desk.
     
    #11     Jul 12, 2003
  2. Well... it is Business Week...
     
    #12     Jul 12, 2003
  3. klutz

    klutz


    And the old broad who calls herself "Gordon Gekko's Mother" is really Mrs Cohen?
     
    #13     Jul 12, 2003
  4. mixer

    mixer

    I was let go cuz I was the low man on the board. During my time I made 300K and I guess it wasn't enough for him or he didnt like my attitude.

    you know he is a spitting image of george castanza
     
    #14     Jul 12, 2003
  5. How the hell do you earn JUST 13% when you have information before people do?

    Correct me if I am wrong, but how hard is it to buy/short sector's leading and laggard stocks BEFORE analysts' upgrade/downgrade?


    Sounds like cheap easy money to me. 13%...that's just pathetic. Give me the same info and I turn a billion in no time.
     
    #15     Jul 12, 2003
  6. You're forgetting that it's 13% on 4 BILLION $!!!! That's still pretty awesome! I mean, you can't exactly throw a $4 billion order in the market without showing your hand and getting yourself screwed by the vultures and hangers-on who scrutinize your every order.
     
    #16     Jul 13, 2003
  7. Cohen averaged 40%+ in previous year with roughly the same nominal principal. According to the article, he's "disappointed." I would too! (with that kind of information).

    There are tons and tons of upgrades/downgrade/recommendations. $4 billion is pocket change in this market .. relatively speaking of course.

    Ivan Boesky made a fortune getting insider info. Cohen's info is a bit different but the effects are still the same. Adding is the fact that the market is increasingly becoming more reactive to analysts' report.

    Any modicum of pre-announcement info literally means arbitrage profits.


     
    #17     Jul 13, 2003
  8. I'm still impressed. Buying or selling based on an anticipated upgrade/downgrade is still a 50/50 proposition based on my experience. Knowing a rating change a few hours (or days) before the public is NOT a sure thing!
     
    #18     Jul 13, 2003
  9. nitro

    nitro

    Huh?

    Let me have that not so sure a thing!

    nitro :eek:

    BTW, your number of posts as I write this is 666 :eek:
     
    #19     Jul 13, 2003
  10. Ninja

    Ninja

    I bet you had that number of the beast too somewhere in the past :p (and some other mega-posters as well)

    Wait a second, does this mean we all have that potential beast deep inside of us? :eek:
     
    #20     Jul 13, 2003