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SAC Capital: Hedge Fund Billionaire’s Baseball Dreams Fall Through

295px-OregonDucks.svgNY District Judge Richard Sullivan has signed off on a $900 million judgment, part of the $1.2 billion settlement reached by the SEC and hedge fund billionaire Steven Cohen. The settlement is the largest insider trading penalty in history.

Cohen’s bid for the Oregon Ducks may fall through as a result. “The potential ownership market is too strong for baseball to keep Cohen on the short list,” Paul Swangard, the director at Warsaw Sports Marketing Center at the University of Oregon, said, according to Reuters. “The potential relationship comes with too much baggage.”

Cohen is a partner in the NY Mets, placed a bidding on the LA Dodgers and although he didn’t buy, was looking into the San Diego Padres.

Buisness Insider reports that in another stroke of bad luck, the painting ”Mann und Frau (Umarmung)” by Schiele, widely rumored to be owned by the billionaire, did not receive a single bid at a Christie’s auction yesterday.

About Alex Akesson

Alex has been specializing in hedge fund and alternative investment news since April 2006. Working mainly in research and manager interviews, she has published breaking news on the hedge fund industry on her blog, as well as several industry publications. Her access to hedge fund managers gives her insight into news stories as well, and the ability to track press releases and other breaking news in real time.
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