Hedgies are avoiding Steve Cohen like the plague.
Of course no one wants to be associated with SAC Capital. The fund has at least these three strikes against it:
2. CEO Steve Cohen’s ex-wife suing her ex-husband and claiming he confessed to insider trading in the 1980s
3. Steve Cohen suspiciously got a Reuters story killed
Blue Ridge, Greenlight, Third Point, Glenview, and Maverick are cutting back on any contact with King Stevie. When we asked major players such as Jim Chanos and others if they’ve been pinging Stevie about a trade lately, you’ll get a very defensive ‘no.’
They are using a new buzz-word to direct their legions: being “SAC-remote.”