Those wondering if Steve Cohen is attending the most epic of "economic forum" boondoggles elsewhere known as Davos (where for some reason Derek Jeter is present and accounted for) was just to get a hot tip, or to interact with the Swiss branch of Gerson-Lehrman, the one where not every conversation is being recorded by the feds, the answer is neither. The man, whose fund as most by now have been made aware is one turned informant away from greeting the men in gray coats on its front porch at 72 Cummings Road, is in Davos to learn about... "Resilient Dynamism."
The fund manager is joining world leaders, Nobel laureates and fellow billionaires as they discuss the state of the global economy under the motto “Resilient Dynamism.” The logic of the organizers, as spelled out in the program for the Jan. 23 to 27 event, is that hard times require “successful organizations to master strategic agility and to build risk resilience.”
After Davos, Cohen plans to go to Palm Beach, Florida, where he will attend the Morgan Stanley hedge-fund conference at the Breakers hotel, according to a person familiar with his plans. The person asked not to be named because Cohen’s travel schedule is private.
We hope Stevie learns as much as he needs to know how to be dynamically resilient in a time when he does not know the outcome of every Phase I, II, and III trial days and weeks ahead of time, or when market volume is so low attempts to corner the market end up beaching him as much as they did JPM's London Whale. This may prove to be a hindrance in his quest to generate Alpha of the magnitude that the few remaining outside SAC investors demand, further converting the hedge fund as a manager solely of "friends and family" money. Of course, when the "friends and family" have some $8 billion in cash on hand, they should do ok. After all - who would possibly dare go after them: The Department of Justice and its previously profiled Assistant AG? Surely, you jest.