Top Hedge Fund Works To Contain Fallout From Inquiry

Hard At Work

At last month’s Hurricane Sandy benefit concert, Steven A. Cohen sat near the Madison Square Garden stage, grooving to performances by Bon Jovi and Billy Joel.

The New York Times reports that last week, he flew a private jet to the World Economic Forum in Davos, Switzerland, rubbing shoulders with world leaders and Fortune 500 chieftains. And on Monday, he will show up at the Breakers Resort in Palm Beach, Fla., for one of the year’s biggest hedge fund conferences and, if he can squeeze it in, a round of golf.

For a man who has emerged as the Justice Department’s great white whale in its insider trading investigation — a Wall Street version of Captain Ahab pursuing Moby-Dick - Cohen, the billionaire owner of the hedge fund SAC Capital Advisors, does not appear concerned.

But inside the offices of SAC’s Stamford, Conn., headquarters, and at Midtown Manhattan law firms, Cohen’s employees and lawyers are working hard to contain the fallout from the investigation.

Hit the link below to access the complete New York Times article:

Beneath the Calm, SAC Works to Contain Fallout From an Inquiry

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image: © Kai Chan Vong

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