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Cohen’s ’Elan Guy’ Martoma Dropped Ethics for Hedge Fund

Bloomberg – A former student at Harvard Law School, he co-wrote papers on medical ethics before seeking a business degree at Stanford University and joining a little-known Boston hedge fund. Former colleagues say he was nondescript, and other hedge-fund managers never heard of him.

Yet in 2006, at age 32, Martoma made it to SAC Capital Advisors LP and gained the attention of the firm’s billionaire owner Steven A. Cohen. Cohen, one of the most successful hedge- fund managers in the world, trusted Martoma’s recommendations enough to accumulate about $700 million in shares of Elan Corp. (ELN) and Wyeth LLC two years later and then sell them all within a week after Martoma had changed his view on the companies.

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