CNBC – Cramer sees both of these as good companies in a great growth industry, but using a trick out of his old hedge fund playbook, he suggests the strategy of a paired trade: buying the best stock in the business while at the same time betting against a second stock in the same industry. By betting against another company in the industry, Cramer says, you’re hedging out the risk that home entertainment will turn out to be a flop, and because you’re buying the best company in the industry, the two trades shouldn’t cancel each other out. 

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Norwalk Advocate – Hedge fund manager Steven Cohen is no stranger to the Planning and Zoning Commission.

The panel has approved many additions to his Crown Lane estate since he bought it in 1998 for $14 million. The founder of SAC Capital in Stamford is back before the commission.

At its Dec. 16 meeting, the panel will likely review a preliminary site plan for two additions, totaling 1,145 square feet, to the 35,085-square-foot mansion on 14 acres Cohen and his wife Alexandra.

Already larger than the town’s recommended maximum volume of 150,000 cubic feet and boasting an ice rink and indoor pool, 30 Crown Lane would gain a breakfast room, a garden room and a "His" dressing room, as well as more storage, from the proposed construction.

Both additions would be built over existing impervious surfaces, avoiding increased runoff, and Cohen has received a green light from the town’s Engineering Division.

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