These Are The 18 Trades That Steve Cohen Is Being Investigated For

Tyler Durden's picture

The WSJ has published the list of 18 trades that Finra is currently investigating (or, rather, isn't) Steve Cohen's hedge fund for illegal practices ("expert networks" and what not), using the same methodology as that applied by Zero Hedge a year ago, before anyone had the faintest clue that SAC would be the target of an extensive theatrical campaign by regulators and populist politicians. The following statement by Finra is priceless: "In the 18 referrals made by Finra and the NASD between 2002 and 2011 that were reviewed by the Journal, investigators said they were vexed by SAC's repeated appearance in routine screens of suspicious trading near mergers and acquisitions, earnings announcements and other market-moving news." Needless to say, if any readers has wittingly or otherwise traded alongside SAC in any of these transactions, it may be time to shred any evidence. After all, the "I don't recall nothing" testiony worked miracles for Rupert Murdoch.

As for Mr. Cohem don't worry, something tells us he will be ok:

The Finra referrals are at the center of a showdown between the SEC and Sen. Charles Grassley (R., Iowa), a frequent critic of the agency, whose office obtained the reports from Finra in May. The senator's staff then demanded that the SEC detail what steps it took to resolve the referrals.... Since Sen. Grassley's office went public with the document requests, SAC has hired two of the senator's former staffers, Kenneth Cunningham and Cory Crowley, as consultants to provide insights into the office's next steps, people familiar with the matter said. The two didn't respond to requests for comment. "There has been no dialogue between anyone on Sen. Grassley's staff involved with the investigation, and any former Grassley staffers," a spokeswoman for Sen. Grassley said.

And that, as they say, is that.

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I think I need to buy a gun's picture

we need a perp walk bitchez

Unprepared's picture

I do not understand what is the issue here.

He's just been lucky that's all.

As argued by ZH earlier, how these poor Hedge Funds would otherwise be able to generate any positve alpha when their betas are at par with the market?

AldousHuxley's picture

Hedge funds still live and die by their sword of alpha. Sure insider trading here and there, but they are not as bad as the primary dealers who get rescued from the Fed.


Banksters got in trouble because they got jealous of hedge funds making more than them, so they used your savings deposits as reserves to leverage up and gamble like the hedge funds. Except they got bailed out big time.

Clients can pull their money out of hedge funds, but primary dealers + Fed has monopoly over your life savings in dollars.


Focus back on the banks.

Surly Bear's picture

One must always say there has been no dialogue when there has been dialogue.

Harlequin001's picture

'and US Customs officials will be raiding upto 20 million Japanese households in the coming weeks demanding import duties on all kinds of specialist glow-in-the-dark consumer goods...

BandGap's picture

E-bay should take care of it. Search under "Island of Floating Crap".

Hard1's picture

This settles it, half of the hedge funds "alpha" was leveraged beta and they failed in ´08.  The survivors were equity inside info.  So much for charging 2 an 20% for their superior "alpha generation capacity"

HD's picture

We need a perp firing squad.

Freddie's picture

Stay on em Tyler(s).  What a contrast between Stevie Cohen and Ray Dalio mentioned in the other thread.  Dalio is one hedge fund manager I respect and Stevie Cohen is a two bit pirate and slime.

Rynak's picture

WORK FOR YOUR PAY YOU LAZY GOV BITCH.... don't just copypaste jew-hating posts across a hundred threads you lazy slacker by coming up with ORIGINAL posts!.... WORK for your pay of EXCLUSIVELY injecting anti-jew propaganda across ZH and not much caring about posting ANYTHING ELSE (as opposed to just weird folks on ZH, who actually believe in a jew conspiracy, outlaw is just doing this for discrediting ZH, on behalf of his employer)

Wondering what this is about? Check is track record yourself:

Fuck him

Rynak's picture

Sounds almost as clever a retord, as that guy back then who registered a dozen accounts.... yet was recognized over and over again - what was his nick again? I'm sorry, wrong question - what was one of his one hundred nicks again?

What is this, our favorite a-dozen sockpuppet called zing, axe, oh damn who cares, going nazi according to orders of his pimp?

Outlaw Of The Wasteland's picture

I believe you mean retort, retard.

Oy, the hate.  There outta be a law.


you fucking inbred idiots have had a nice run.

I'm here to sic the dogs after you.


Rynak's picture

Track history of outlaw of the crap's most recent posts (before you ask, NO, i haven't skipped any post - this actually IS his most recent track record! And yup, it totals hundreds of downvotes):


Hitler was right.


Hitler was right.


11-30-3 The Kol Nidre is the holiest Jewish prayer and is recited several times on Yom Kippur, the Day of Atonement. It means "all vows" and is a....


" What are ya looking for, Brody?  Big Sid aint here to help you no more." - "The Flamingo Kid"


LIESman, cramer, faber, greenberg, kaminsky, rovell, finerman.

A smattering of script reading chinks, blacks, and effeminate males.

cnbc.....this exposed example of the protocols of the learned elders of zion may as well be broadcast from the bowels of 85 broad street or tel aviv for what it is, and who and what it serves.


sarkozy is a dwarf hungarian jew, is he not?  about as French as velveeta.  odd, that.


go take your rebbi's bumpy pickle in your pasty, sloppy ass, you fucking kike.


We've been out of BAC for two years. Most folks will stay with them if the branch is 'convenient' out of laziness.



communist sympathizer/operative

trying desperately to join the Tea Party with the flea party (blacks, jews, homos, illegals, communists, muslims, baby killers).


h yes.  The Nazis.  The gift that never stops giving.

No business like shoah business, hey jew?


How this rabble is covered by the fellow travelers of the Fifth Column media will be telling.

As of now, I am assuming this impotent nonsense to be state sponsored unrest.

If the normal assortment of communists on kaballavision offer encouraement and support, then I will have been proven correct.


the jew is in the "market".  As always.



Let me express it this way:







Want me to post more of your endless history of noise and trash? Or do you prefer to diplomatically STFU, sockpuppet?

Rynak's picture

You want more? Okay, continuation of your post history (again, i'm not leaving out a single post - he really is posting nothing else than this):


Hitler was right.


he's a nation wrecking jew.  the bane of the world.


you're a jew.  you should have no say until we come to burn down your house and shoot your family.


you missed the typical scatalogical reference favored by khazarian "jews" such as yourself.


he's a fuckin jew


russian/pollack jew


Ironic comment seeing as how most inbred kikes look as if they were put together with spare parts.


you jew


not marching with michael moore, cornell west, and lawrence o'donnell.

I'll root for mass beatings and arrests of the unwashed amalgam of misfits demokratik party(blacks, jews, homos, communists, muslims, illegals, baby killers).

"What EXACTLY are you turds protesting"?

mumbles.  "ummmm.....capitalism, fascism, racism, know real communism has never been tried".

uh huh

Hitler was right all along.


Free speech for idiots, too.  Fixed it for you.


and you for your rabble rousing jew led marxist meeting?



Do i need to continue?

You are so ridiculous, that not even anyone would take your serious as a jew hater. You simply are a government planted tool, to spread racism across ZH, so that ZH members can be more easily discounted by the masses.

Did i mention already that you should fuck yourself with a screwstick and die in a corner bleeding to death?

Harlequin001's picture

Tyler, you really ought to be keeping an eye on this and deleting threads where necessary.

Whilst I don't condone censorship of any kind I don't believe many others on ZH do either, neither can I condone the spreading of malicious hatred on any ethnic lines from either side either.

If you don't the PTB will try, and will have a very good excuse to shut you down, and there will be precious few people to back you up...

BandGap's picture

No fucking way. Let them spew hatred so they can be identified. When one takes it upon themself to judge what is and isn't acceptable then the slide down the slippery slope begins.

I like it when assholes display their assholism.  Saves time later.

Global Hunter's picture

All this free speech and lack of censorship is driving the natives mental.  We need some supervision (sarc)

fuu's picture

STFU with your censorship bullshit.

Harlequin001's picture

Tosser. You probably think this bullshit is worth reading...

Harlequin001's picture

Tosser. You probably think this bullshit is worth reading...

tarsubil's picture

Why not put this all into a google doc and then simply post the short link? Like this:

It keeps the comment area clean.

fuu's picture

That is awesome.

I turned it into a word cloud for you:

wang's picture
wang (not verified) Freddie Oct 25, 2011 6:13 AM

Ray is on a PR tour and it would appear he has been successful.   One heck of a guy that Ray D.

The Real Fake Economy's picture

actually i think sac has been on a tour - earlier in the year doing davos and all of these media appearances.  all from a guy who tried to stay as out of the scenes as possible, all of a sudden he's making the media rounds.  a couple of years ago, i went to a young jewish network thing where a successful mutual fund manager told a story of how he met a hedge fund manager at a beach on puerto rico over 20 years ago and they continued on to be friends to this day.  he mentioned how he he had no idea how he made so much money.  that man he was talking about was sac.  

zorba THE GREEK's picture

Crooked is the new straight. 

tarsubil's picture

What is funny about this is that people will now call for more government intervention and regulations. Regulations and government intervention are what forces people to speculate with their savings in the first place. Then the regulators get to say they are making sure no insider trading is occuring while it is rampant and makes these guys billions which partly get funneled back to the regulators. This is all a big crock and game to assure you they're helping as they steal your savings and future. Yes, more regulators to reassure us. That's what we need.

truont's picture

"testiony" = testy testimony

Quantum Nucleonics's picture

Isn't this list meaningless without the whole trading history?  If Steve is like your average joe day trader with a couple bucks in his E-trade account, he's got tons of trades every day.  If they're going to drag this guy away, they gotta nail that E-trade baby too, right?

Triggernometry's picture

I think the list is a useful guide by which to search for the whole history via investigation, not yet an indictment.

Zero Govt's picture

all Hedgies now know not to "vex" regulators... vexing your brittle on-edge emotional Regulators is a key level

the fact the Fed (a private bank) has just rigged the Gold price with a massive paper takedown and Benny is on record as pumping the stock markets and stating in public he wants to manipulate the Indexes to provide positive Karma is not a problem .... it is not actual blatant in-your-face market manipulation by a private bank (Fed), it's pure supposition by pea brained twats behind Govt desks fretting about your 'trading pattern' 

fuking morons

vinoverde's picture

How blindingly non cognizant do you have to be as a regulator to be surprised that SAC would show up on a list of questionable trades. Stevie Cohen has been busted before (IPO allocation tipoffs), its common knowledge he pushes the envelope and I am not at all surprised to find he has crossed the line.

Seasmoke's picture

if you aint cheating, you aint trying

BandGap's picture

Wow, you been hanging out with lawyers? 

pain_and_soros's picture

They missed at least one other one, (& probably a ton more)

Dendreon - Deep Capture used to have a detailed story on how hedge funds manipulated the stock of this company, (along with a ton of other financial crimes) but their website has interestingly been shut down by a Cdn court order.

The voices of those willing to expose the truth and report what is really going on are being muted or silenced via various methods.

The days are growing shorter in the northern hemisphere, but the entire world is getting darker.



Yamaha's picture

They will simply do it forever - because they can.  FINRA should worry about something important like Warren Buffett front running.  Oh by the way - they only look at winning trades - shitty buys are not a problem.

I am a Man I am Forty's picture

it looks like they are looking at loss avoidances as well and potential profits

Akrunner907's picture

Oh come on...What is a little "Expert Network" among friends?   

Race Car Driver's picture

This is chump change. They'll throw another Madoff under the bus just to make it look like someone is actually paying attention to the in-your-face corruption that goes on all day long. Everyone can go back to sleep knowing the dogs have things under control.

dolph9's picture

Do the Jews ever change?

Pinch's picture

Do Madoff and Cohen have anything in common?

Don Diego's picture

Madoff cheated his own, Cohen apparently not.