Steve Cohen went to cash last week (at the bottom)

Discussion in 'Wall St. News' started by stock777, Oct 13, 2008.


    Article in the WSJ says he bailed, cause he doesn't like the bedlam and his managers 'weren't seeing the ball'

    I'll tell you what it really was.

    He couldn't paint the tape and manipulate the market , so he took his ball and went home.

    If he was any good he'd have made billions trading this shit.
  2. Very interesting about the 'killing the bad hedge funds.' We thought the same about the banks. Have a few good ones htat are strong.

    The HedgeFund deal is great. They embarrassed Paulson and the politicians. They spread their dough around, and now, the establishment is left holding the bag. Paulson made plenty of dough off those guys, now he turns on them.

    What I'm waiting for is for the Feds to pinch some of these Hedgies, and they give up the politicians.

    And that's coming. God I can't wait. I'm big on revenge.

    Arrests aren't far off. The big up day took some heat off, but not for long. Where we goin'? 12,000? 7,400 first. And then, the politicians panick again.

    If we're going to have a country, we have to purge this filth.
  3. thx for the article, can you post all of it here?

    Just goes to show you how monumental this drop was/is. This aint your daddy's bear mkt. And grandpa isn't alive to remind you how bad it was during the depression.

  4. Very surprising by Cohen.
    Sounds like he was caught like a "deer in headlights" and long and wrong.
    Again, very surprising for a TRADER of his caliber.
  5. Syprik


    Ever cross your mind he and many other extremely successful traders just don't know how to read this with $billions to allocate? Very prudent move to cash and cutting off potential further systemic risk. Cohen's group consistently made 85% gross annual compound for over a decade on $billion+ asset. Don't confuse minnows like yourself that can move in/out of extreme volatility with ease and a billion fund. Whales can easily beach in this action. Simmon's Renaissance is heavy in cash at the moment, and they are arguably the best technicians on the block for decades.

    "If he was any good he'd have made billions trading this shit."
    - Yeah, sure buddy.
  6. Hes guy is the greatest stock trader ever. If hes in cash its for a very good reason
  7. I can't prove it and I might be wrong, but I still think these guys make MOST of their money by scamming the market.

    Don't confuse size with honesty.
  8. Understood.
    Perhaps he no longer gets the "early" research calls or is privy to order flow.
  9. Bullshit. The authorities are all over these guys. Their playbooks are shut down. What don't you get when the lowly USA TODAY says subpoenas go out? That's a grand jury pal. That's a Federal prosecuter going to a Judge, and showing him evidence. That Judge calls a Federal Grand Jury. That's 21 people too stupid to get out of Jury duty (joke, just a joke) who meet three times a month. Now, the Feds have the stuff. They go through it, and if they can make a case, they go back to that grandjury, present the evidence, and get indictments.

    You've been reading too many "Market Wizards" books.
  10. My mother lives. She was telling me today, when I finally had to tell her how close we came to a Depression, how they would go to Mrs. Bertuzzi's, who raised chickens (within city limits I might add). Mrs. B would sell the girls feed sacks for ten cents, and the girls would sew the bags into skirts with pleats and waste bands.

    My father would go home from school on his lunch hour and just stand outside the barn until he had to go back. He had nothing to eat. Patrick used that analogy in one of his speeches. But it all happened. And it can happen again. Don't let anyone tell you differently.

    Go to, and look at some of the pictures. If you've got kids, it will wake you up. The earliest Three Stooges shorts all were filmed in the Great Depression. That's why they show the Stooges as bums. Marx Bros same. Always bumming a meal

    People went hungry. And just for rampant greed, we almost went hungry again. The prosecutions wlll be w/o mercy. Like I said. I'm big on revenge.
    #10     Oct 14, 2008