Monday, June 6, 2016

Generation Madoff Doesn't See It Coming

"The newspaper reported Sunday that the founder of Point72 Asset Management tore down his mansion in the Hamptons "several weeks ago" so he could build a new one. Cohen had paid $62.5 million for the 10,000-square-foot home, the Post said."

Steven A. Cohen:
In July 2013, amid multiple charges against employees of S.A.C. Capital Advisors, the SEC brought civil charges against Cohen himself, accusing him of failing to prevent insider trading. In November 2013, S.A.C. Capital pleaded guilty to insider trading violations, agreed to stop managing funds for outsiders, and paid a $1.8 billion fine. In January 2016, Cohen reached a settlement with the SEC on the civil charge, in which he is barred from managing money for outside investors until 2018.

What emotion is driving Generation Madoff now?