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SAC Discloses Government Subpoena (Top 100 Holdings Presented)
Goodnight Sweet Prince
From Market Watch:
SAC Capital Advisors LP told investors in a letter that it got a government subpoena, according to a person who received the update from the hedge fund firm. SAC said in the letter, dated Nov. 23, that the government served identical “extraordinarily broad” subpoenas on a number of investment managers of different sizes and descriptions, including SAC. The subpoena does not focus on particular individual securities, sectors or strategies, SAC added. The firm said the subpoenas don’t “shed much light on whom or what the government may be investigating.” One focus appears to be on the use of consultants and soft dollars, SAC noted in the letter. SAC will respond to the government “in a professional and cooperative manner.” “Neither the subpoena nor any other information of which we are aware suggests that anyone at SAC has engaged in any wrongdoing,” the firm added.
Zero Hedge from November 4: Is The SEC's Insider Trading Case Implicating FrontPoint A Sting Operation Aimed At S.A.C. Capital?
Our questions back then:
- Did SAC short CYBX in the
days immediately preceding the adverse CYBX statement from August 12,
2004. And did it subsequently go long ahead of the favorable 8K from
February 3, 2005. If so, what was the investment thesis/catalyst for
such decision. Did SAC consult with an expert network or an outside
consultant on any of the trades? - Did
SAC go long ITMN in the days immediately preceding the favorable ITMN
statement from March 9, 2010. And did it subsequently sell all of its
holdings in advance of the adverse news from May 4, 2010.
If so, what was the investment thesis/catalyst for such decision. Did
SAC consult with an expert network or an outside consultant on any of
the trades? - Did SAC sell its 700,000 shares in advance of the adverse MYGN news release from May 4, 2010.
And did it subsequently sell all of its holdings in advance of the
adverse news from May 5, 2010.
If so, what was the investment thesis/catalyst for such a decision. Did
SAC consult with an expert network or an outside consultant on any of
the trades? Furthermore, what catalyzed the decision to reenter the stock.
We also have some broadly
rhetorical questions: how is it that a rabbi who as he himself admits,
has never traded a stock in his whole life, knew ahead of everyone,
certainly the SEC, that Skowron had (allegedly) traded on inside information. More to the point, why was Jeff Skowron not named as a defendant in this action: based on the SEC complaint,
which in itself is worth an entire read, the agency has more than
enough information to indict him as a co-conspirator in the case. Why is
FrontPoint also not named? And why is it that we get the feeling that the SEC got all of its information on the Benhamou/FrontPoint case courtesy of the US attorney general, who had forwarded the Balkany information over to them. If that is the case, what else is the SEC currently investigating? Are all biotech
consultants working for 'expert networks' currently under SEC
surveillance and being bugged by various law enforcement administrations
ala Raj Rajuratnam? And, most importantly, is the ongoing official anonymity of Skowron
indicative that the SEC is merely using him to build a much greater
"sting" case against his former, and oh so very elusive, employer?
We were correct about pretty much everything.
And for shits and giggles, here are SAC's top 100 holdings:
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melons to asphalt, OUCH! now she has a strawberry, somewhere i am sure.
i think they greased up her wheels. or seat tube. or head steering tube.
i know some dirty components, gruppo.
she makes falling off a bike so sexy
She should be wearing a helmet.
She had a head?
All I saw was bouncy bouncy.
ouch! that hurts to even watch. the true meaning of a "down day."
That's gonna leave a mark. No gravel in sight either?
The entire male staff of the NTSB has volunteered to forego their Thanksgiving feast to investigate the cause of the crash.
"We think it's a problem with aerodynamics, and we can only be sure after extensive wind tunnel testing of the stripped-down core structure. We're going to have to see how she performs under all conditions." That being said, some staff members are against mandatory safety gear, such as twin helmets, saying one rather stalwart member of the team, "we have to consider what effect such helmets would have on the nation's highways."
O.K. Let's do the trampoline stunt next.
I noticed the FBI has been visiting my blog often in the last couple of weeks. Something is up, I find it hard to understand why all of a sudden these hedge funds are being investigated. Stay tuned, very strange indeed.
its your awake up call leo - get out of solars and go into gold...
The dreaded FBI "dump everything and go to PMs" signal. But why Leo? :>)
He's buying commie stocks.
This is the dark side of austerity; g-men managing their own pension investments. And they'd better get the return they were promised or you get the special TSA "mad terrorist" treatment any time you even walk past an airport.
"Acts of charity" or: Evening and Dinner with the Destroyer
Well worth the time cougar. Looking forward to more of your work if you choose to share.
I do have another one! Diamond and Fortran rob a bank. Epic lulz ensue.
Coming any day now to a deserving ZH post near you.
After an evening with Fortran I now have an idea how a mouse might feel that manages to slip the clutches of a cat. I don't read every contribution or postings but will try to stay alert.
Who gave you the tip to go long Hellenic bonds? Tell us! We have our ways to make you talk, Kolivakis! Who could hate you so much?
Leo,
Where did most pension funds place a BUNCH of their money.
Where did most of that money go?
The states and countries are now broke and can not make up those losses.
But those losses need to be made up or there will be deaded politicians.
Who is going to pay for those losses (right or wrong).
THAT is why the FBI is looking at your blog, and ZeroHedge, and everywhere else, and that is why these Hedge Funds will get fined into oblivion - To cover those pension losses so the states and the taxpayers dont have to.
Remember, Hedge Funds are NOT Wall Street banks that service 5 trillion of mortgages, or buy all the bonds the Treasury can print - they are private pools of money that can be painted as boogey men VERY easily.
you're going to have to stop frontrunning SAC Leo...
These firms are getting subpoenas because the FBI wants to know what diabolical move W&R is planning next.
Who can say? These financial terrorists can strike without warning!
If the FBI wants Little Stevie they don't have to look any further than FRPT.
SAC wrought havoc on that company assisted by Cramer and Sweet Melissa Davis
I have nothing to say, except that your avatar is hilarious. Me like it very much.
An Ultra-wealthy person having a "tough day" after the coup d'etat?
wow.
must be an anomaly
or infighting
How does one short CbaySystems Holdings, preferably with a quadrillion leverage?
When Stevie Cohen insider trades, it is NOT illegal.
Not sure what happens next, but the CRB Index held firm today.
Just can't bring yourself to post a gold chart on an up day, huh? Strange, I thought people who hated gold so much tended to make it out to be a commodity, yet here you are saying all is well in commodity space, but you continue to be a total hypocrite when it comes to gold, posting a chart on EVERY down day, but never posting it when it is even or up.
What is your malfunction, boy? Your mama didn't love you as a child, so now you hate real money?
http://www.youtube.com/watch?v=nAZI4ydY6R8
with all due respect, what does it matter if the price goes up or down?
at this point in time, the ask price is too heavily manipulated to use that as a metric for its true value anyway.
Because it challenges Robo's thesis, and he is an intellectual coward for only posting it when it is down, and never when it is up.
What happens next?
Maybe a pause followed by a decisive break of 0.9700 AUD/USD and 0.9900/50 AUD/CAD as definitve indicator/s of 'risk off'.......???
And a sharp break of 1.33 EUR/CHF as flight of capital and signal a round of bank runs........1.33.... major pivot point.
What do you think Robot?
Let the shredding begin. Quick.
And fuel up the jet just in case.
Stevie, way to stay out of the limelight.
government's "shuttin' down the casinos." Publicans in da House...
What are the chances we see this headline:
"Government Lawyers with Clip-on Ties Take Down Hedge Fund Titan"
Answer: None.
Stevie has the Government by the balls. He can say back the fuck off or I take down the entire stock market on the day before Thanksgiving and Black Friday by selling all my long positions and going 200% net short. LMFAO!!! Those goons with bad haircuts and Jos. H. Bank suits will be scurrying out of their offices with subpoenas stuffed up their alimentary canal.
The Fed will buy his positions via GS.
Yawn. Justice? That's just some made up fucking word.
I'd like to think that these government pricks have one shred of moral fiber. But time and time again, I have examples like Angelo Mozilo, and essentially every high ranking crooked banker in the U.S. as a reminder that all that our government really does is pressure, threaten, and coerce crooks into civil fines. That our two tier justice is operating just fine.
If you have money we accept payoffs. For you little people with no money, we have prison. Nothing to see here, move along now.
Stevie to Government Lawyer: "I shit bigger than you"
He's probably on a conference call with his legal team screaming at them: ''Make them go away PRONTO!!!''
Wholesale BJs club, now that sounds like a stock I would enjoy.
What will happen always happens. The big fish will swim away free but the little little fish will be hung out to dry and they will call it justice.
Pulp Fiction Ezekiel 25:17
http://www.youtube.com/watch?v=czb4jn5y94g
CORRUPTION!!!
Like to know when he picked up that HGSI.
A subpoena is NOT an indictment.
Considering how vague these subpoena are, its just a fishing expedition. Send a bunch of nicey nicey letters to a bunch of outfits questing for all things since 2008 and see what surfaces. Maybe some nobody pisses themselves and wants to give up on some Martha Stewart type. But seriously folks. Obama and Holder are not going to defy Summers-Dimon tea and strumpet crowd.
They didn't do anything to the rating agencies. They won't do anything on fraudclosure. They are paying the MBS with your grandchildren's milk money. They vacated the GM bondholders.
They are just re-wallpapering the financial rape rooms in time for Obamacare to kick into your paycheck.
After everything that has gone on these last years, what is the penalty for simply throwing the subpoena in the trash, boarding up the store and taking that yacht onto the high seas for two years? By then the "regulators" will have rotated into the private sector and those under the gun now will be the new commissioners at SEC and beyond.
Nobody has mentioned it yet, but SAC was one of the big players who INTENTIONALLY flash crashed Dendreon. You'll hear more in the coming months along with their other dirty dealings in the biotech space.
Prove it Bitch. I hope Stevie sues your ass for Defamation.
jory -
It's hard to judge your position. I can see ice water flows through your veins.
Jory, you remind me of that little parasitic piece of shit puppet under jabba the hut.
No, really.
Tyler, you should give a talk to the Greenwich Chamber of Commerce.
They could serve pickled herring and hot, buttered subpoenas
Enjoy some dim sum while watching the fireworks...
http://www.bloomberg.com/news/2010-11-23/-dim-sum-debt-rallies-on-pent-u...
TD posted a comment on one of his threads. It stated, reading stories is a value added concept. Quote is not in TD's words, but mine.
ReDeCoupling: The Gift That Keeps On GivingEconoparody: The Dollar and Its Diving
http://www.zerohedge.com/article/redecoupling-gift-keeps-giving#comments
Econoparody: The Dollar and Its Diving
http://www.nakedcapitalism.com/2010/11/econoparody-the-dollar-and-its-diving.html
I am excited at these new dog-feeding developments.
From now on, anytime we see Steven Cohen or any of these hedge fund gangsters they’ll be travelling with their lawyer posse. Maybe some of them can still have a second career as a rapper.
Not time for a second career when you catch a bullet in your teeth, and that fag traitor is no superman.
I'll be very surprised if they prosecute this guy. Frankly he is pretty much exclusively in insider trading and price manipulation, I don't think he really knows any other side of the business. But not only do they probably not have the stomach for that big of a fight, from what I know he is very careful to shield himself. I don't think tapping his phone is going to get anything, they would have to get a wire on a very close cohort over a long time.