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(Bloomberg)   Cohen was warned about Lee's past and tendency to break laws. To be fair to Cohen, Lincoln was also warned that Lee was trouble too   (bloomberg.com) divider line 12
    More: Followup, sac, portfolio manager, warning sign, Ken Griffin, 3Com, SAC Capital Advisors LP  
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1668 clicks; posted to Business » on 26 Jul 2013 at 9:19 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



12 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2013-07-26 10:06:14 AM  
Lee got off scott free.
The only confederate officer hanged for war crimes was the dude in charge of Andersonville prisoner of war camp.
 
2013-07-26 10:47:41 AM  
If trading on knowledge of a company's inner workings and planned activities is illegal, why do we need anybody on Wall Street at all?  Simply placing trades can be done by computer, and apparently having special insight/knowledge is a crime.
 
2013-07-26 11:28:48 AM  
let me guess

leonard cohen, jason lee and brad lincoln
 
2013-07-26 11:33:36 AM  

Dead for Tax Reasons: let me guess

leonard cohen, jason lee and brad lincoln


who are three people who you should never do business with?
 
2013-07-26 11:36:39 AM  
Who cares?  It's not like anything substantial will come from this.
 
ZAZ [TotalFark]
2013-07-26 11:41:23 AM  
In the summer of 2008, Steven A. Cohen was warned by an employee at Citadel LLC that a portfolio manager he was about to hire, Richard S. Lee, had a reputation for insider trading.

You see danger, I see opportunity.
 
2013-07-26 12:14:33 PM  

cefm: If trading on knowledge of a company's inner workings and planned activities is illegal, why do we need anybody on Wall Street at all? Simply placing trades can be done by computer, and apparently having special insight/knowledge is a crime.


You cannot have access to information that is not public, If a company says they're expanding to China in a press release that's fine. If they say they're buying out an Israeli company in an investor's meeting that's legal. If the CEO calls up an investor and says the company is not going to meet forecasts for the quarter that's illegal.

Also a researcher is able to do their investigation (within certain parameters) is fine as well. A retail analyst will regularly go into malls and stores and check out how busy the place is. How the merchandise stocked and the condition of the store. Sometimes she'll talk to manager or sales staff and find out how sales really are and how the new merchandise is selling.

The analyst then takes all that information and build their models on how it will affect the stock. That is the "secret sauce" between the good stock pickers and the bad ones.
 
2013-07-26 12:24:44 PM  

Pentaxian: cefm: If trading on knowledge of a company's inner workings and planned activities is illegal, why do we need anybody on Wall Street at all? Simply placing trades can be done by computer, and apparently having special insight/knowledge is a crime.

You cannot have access to information that is not public, If a company says they're expanding to China in a press release that's fine. If they say they're buying out an Israeli company in an investor's meeting that's legal. If the CEO calls up an investor and says the company is not going to meet forecasts for the quarter that's illegal.

Also a researcher is able to do their investigation (within certain parameters) is fine as well. A retail analyst will regularly go into malls and stores and check out how busy the place is. How the merchandise stocked and the condition of the store. Sometimes she'll talk to manager or sales staff and find out how sales really are and how the new merchandise is selling.

The analyst then takes all that information and build their models on how it will affect the stock. That is the "secret sauce" between the good stock pickers and the bad ones.


Mmmm... secret sauce....
 
2013-07-26 12:59:31 PM  

HotIgneous Intruder: Lee got off scott free.
The only confederate officer hanged for war crimes was the dude in charge of Andersonville prisoner of war camp.


They did take all his land and farm and buried dead Soldiers of the North there, it is called Arlington National Cemetery nowadays.
 
2013-07-26 01:16:21 PM  
I fish smells from the head down.
 
2013-07-26 01:26:44 PM  

Dead for Tax Reasons: let me guess

Marry leonard cohen, Kill jason lee and Fark brad lincoln?

 
2013-07-26 01:45:15 PM  
Donna Chang told me to never trust that Chinaman.
 
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