The judge in Mathew Martoma’s insider-trading trial warned his lawyers against questions tied to Steven Cohen’s trading strategies, saying it could open the case to a wider probe of the SAC Capital Advisors LP founder.
During his first debriefing by two FBI agents on June 12, 2007, Wall Street insider David Slaine mentioned suspicious trades by two hedge funds: Raj Rajaratnam’s Galleon Group LLC and Steven A. Cohen’s SAC Capital Advisors LP.
SAC Capital Advisors LP may be charged by the U.S. as soon as this week in a criminal insider trading investigation, while no charges are planned against founder Steve Cohen, the Wall Street Journal reported, citing unidentified people familiar with the matter.
When Larry Robbins was a boy in the Chicago suburbs, his father, Sheldon, worked two jobs and wasn’t around much. If the young Robbins wanted to see him on weekends, he had to travel to Arlington Park, a nearby horse-racing track that his dad ran. During those Saturday visits, his father taught him how to handicap horses. One lesson: Know the horse and the race. Was the track dry or muddy? Did the horse win because he was fast or because the competition was lousy?