Remember to AVOID Day Trading Investment Club |
| Posted: 07 Nov 2019 01:00 PM PST Bobby Axelrod is a character played by Damian Lewis in the Showtime series Billions. The character is (primarily) based on Steve Cohen, who founded the hedge fund SAC Capital in 1992. It is named SAC Capital after Steve's initials, his full name is Steven A. Cohen. Get it... SAC. SAC generated average annualised returns of 25%. In 2012, the SEC filed charges against SAC for insider trading. They ultimately pled guilty to insider trading. As part of that settlement, the firm was banned from managing outside investor capital, and fined $1.8 billion. Steven Cohen paid the fine out of his own pocket in 2014. However, with a net worth of $13.6BN, Cohen has pretty deep pockets... REMEMBER - there are only two ways to beat the (stock) market consistently: 1) Work at Renaissance Technologies (to do so, you need to be a literal genius and have an IQ ideally closer to 200 than 100) 2) Undertake insider trading (you'll likely get caught, but if you have an army of world-class lawyers, you might just walk away with a $1.8BN fine...) [link] [comments]  |
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