Tuesday, 21 October 2014
Last updated 53 min ago
Nov 15 2013 | 11:46am ET
His many expensive troubles notwithstanding, SAC Capital Advisors founder Steven Cohen still has at least one friend in a high place.
Cohen was the personal guest of New Jersey Gov. Chris Christie at the latter's reelection victory party last week, Fox Business Network reports. In addition to attending the celebration, Cohen was among a handful of Christie backers to dine with the Republican governor last Tuesday.
Just a day earlier, Cohen's firm agreed to plead guilty to insider-trading charges and pay $1.2 billion. Cohen is still the target of both a Securities and Exchange Commission lawsuit that seeks to ban him from trading, and of federal criminal investigations that could send him to prison.
"Mr. Cohen was in attendance on Election Night along with nearly 2,400 other attendees," a Christie spokesman told Fox.
Christie was easily returned to office, taking more than 60% of the vote in New Jersey, usually a reliable Democratic Party bastion. The huge victory has Christie tipped as a front-runner for the G.O.P. presidential nomination in 2016.
According to Fox, Christie and Cohen, who lives in Greenwich, Conn., are friends. Cohen last year sought to draft Christie to run against President Barack Obama, with Christie demurring. Christie reportedly pushed a reluctant Cohen in attending the party because he had heard that the hedge fund manager was depressed.
The governor "told Steve to get off his couch," a source told Fox.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...