YOU COMPLETELY MISS THE POINT. THE TYPE OF TRADING DONE BY THESE HEDGE FUNDS WAS NOT LEGIT IN THE FIRST PLACE. THEY COVERED THEIR POSITION ON THE REPORT !!! this proves that they deliberately used the report and the analysts to make a quick gain on a short position. I they had been short the stock for weeks because of their own research , if they didn' t contribute to the analyst research (collude with him to create a negative report ) or if they had kept the short position on , they would not be guilty of any wrongdoing but in this case , it seems they set up everything from A to Z . That's not trading it's cheating , trading on privileged information. It should be illegal and they should be fined, investigated, shut down , barred from the business and maybe even sent to jail if that was their modus operandi.
That's it in a nutshell. And then, they are lauded as brilliant traders. Let's see how they do swapping cigarettes with the guards for favors.
Yes I'm sure it would give you much of the attention and 'hits' on your site that is your modus operandi which I understand. You probably won't get it because of the 'under the radar' platforms that hedge funds and their investors prefer. I have never been affiliated with any of the ones mentioned, but I am very familiar with them having worked in that business for quite some time. If you are looking for your next Galleon at one of those, especially SAC then you are spinning your wheels. At a huge fund like that; has anyone ever traded ahead of a seller, caught wind of an analysts thought process before a publishing, etc... - I'm sure, its a huge place. Are they anal about compliance and do they; review all their own trading; heavily scrutinize their traders positions, size, thought process, e-mails, IM's, tape phone calls - YES. Especially in this environment, an easy target is the big fish. Go after GS, SAC, hell why not even Tiger Woods - oh yeah that one worked. Good luck, I wouldn't invest too much money in your bid to uncover a silver bullet there.
They won't sue. They owned everything. Had nothing to fear. So they got sloppy That's leads to the recent blog about the biggest trying to delete emails to SAC. Discovery is brutal when you're crooked. Too late. It's all been found out. Someday, you'll read about it. Nobody at Deepcapture is getting rich. Everyone is trying to do the right thing. And that's tough to do when guys like Dodd are taking hundreds of thousands from SAC.
Is it time to leave ET? This site started as a site by traders for traders. More and more it has become a forum for liberal ranting and raving. Are people signing up just to bash traders? As if we are the root of everyone's problems. Traders like Steve Cohen were once revered on here. Now, because his ex-wife of 25 years has a lawyer with $'s in his eyes and is trying to extort him, he is Bernie Madoff. Dan Loeb, Paulsen, Och have put him on 'ignore'?? Please, stop . . . I'm done with the political bull shit on here. I for one will only discuss markets and stocks and leave the professional bloggers to continue their flag burning and caginess amongst themselves.
So the fact that Cohen is under investigation by many federal agencies is insignificant to you? Do you think it acceptable to revere a trader that was really nothing more than a stock cheat who used his power and money to buy, and trade on, inside information? Is that what trading is all about? Hate to disappoint but this is far less about a former wife's lawsuit and more about a preponderance of evidence that Cohen is a fraud - like Madoff!
When you cut to the lowest common denominator........ but then again so is all of Wall St. If you're not on it, you're the sucker.
I'll take the last 3 posts as a case in point, Thank You! Who say's SAC is under investigation? Deepcapture.com - does this make it fact? Anyone ever hear of them before this thread? The whole lot of you remind me of Defazio. He has come right out and said; "when I was a kid my father was a cook at a country club. I was forced to caddy and carry the bags of wealthy members. I have made it a lifetime commitment to 'get even' for this." A number of posters, possibly you, have come out in favor of his transaction tax. Are you here because Air America has shut down its broadcasts and blog site?
Hey will you wake up. If you are not inside you are outside. And I'm not talking about some wall street stiff flying first class and making $400,000/year. I'm talking liquid. 50, a 100 million dollars buddy. A player or nothing.