If you were down for long, you'd be out the door.
Dan Berkowitz, the CFO at Steve Cohen’s giant hedge fund, said the Stamford, Conn., firm’s slang was spelled out clearly in its employment contracts.
'If (a portfolio manager) lost a certain percentage of the capital we’d given them (to manage), the contract gave us the right to terminate the employment', Berkowitz told the jury while testifying Monday at the trial of Mathew Martoma, the former SAC portfolio manager accused of insider trading.
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