Saturday, April 27, 2013

SAC’s Stevie goes prime time

According to the Post hedge fund honcho Steve Cohen made the jump from Wall Street to Main Street this week when a character loosely based on him appeared on a CBS crime drama.

In a story ripped from the headlines, Thursday night’s “Person of Interest” centered on a hedge fund’s insider-trading scandal gone awry.  The show’s hedge fund was called VAC Capital. Cohen’s firm is  the $15 billion dollar SAC Capital.

There were more similarities. The show centered on a doctor who told a young trader at VAC that a drug trial he was overseeing was “about to fail.  The trader earned VAC $500 million on the insider tip, which he called “black edge.”  SAC’s traders have also reportedly called such tips “black edge….”

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