Thursday, 25 August 2016
Last updated 1 min ago
Jan 24 2013 | 9:52am ET
When SAC Capital Advisors' Steven Cohen skipped Art Basel in Miami last year, as an insider-trading probe swirled around him, it turned heads. But in spite of the increased pressure on him and his firm, Cohen was not going to miss the World Economic Forum in Davos, Switzerland.
Cohen made his third-straight annual appearance at Davos this week, although he did not participate in any panels. Instead, he's come to observe them, and went to one on "the digital infrastructure of context."
Cohen declined to comment when approached by a Bloomberg News reporter after the panel.
SAC has said that both it and Cohen are confident they have done nothing wrong as the Securities and Exchange Commission prepares a likely lawsuit and as a former portfolio manager prepares to go on trial for insider-trading. And lest anyone think that Cohen is using Davos as a convenient excuse to flee the country, he'll be back on U.S. this weekend, to attend Morgan Stanley's hedge fund conference in Palm Beach, Fla.
SAC, which is facing unprecedented redemption pressure in the wake of the insider-trading scandal, plans to offer its wares to potential investors at the conference and will host a golf outing and dinner.