Billionaire Steve A. Cohen, who runs the super-secretive hedge fund SAC Capital Advisors, is known on Wall Street for being one of the most successful traders.
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He began his Stamford-headquartered hedge fund in 1992 with only $25 million. Today the fund has $14 billion assets under management and employees around 900 people globally.
During the late 1990s and early 2000s, Cohen came into prominence as a powerful Wall Street trader for his grand slam returns.
It's widely known that Cohen is the ultimate target of the Securities and Exchange Commission and the Department of Justice.
While he has been implicated in the latest insider trading case, it's important to keep in mind that he has not been charged with any wrongdoing. In fact, he may never be charged.
During a conference call last week where SAC management disclosed that it had received a Wells Notice from the SEC, Cohen told investors that he's confident he acted appropriately and takes these matters very seriously.
We really don't know the notoriously press-shy hedge fund manager, who rarely gives interviews, all that well.
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Now let's take a tour of his fabulous life and tremendous career and get to know him better.
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He's a Long Island native. He grew up in a middle class family and had a lot of siblings.
Steve Cohen was born on June 11, 1956. He's the third out of eight kids.
He grew up on Great Neck, Long Island, New York.
His father worked at a dress manufacturer and his mother was a homemaker who also taught piano lessons.
He started his career on Wall Street at Gruntal & Co. He essentially became a legend on his first day.
After graduating in 1978, he went to Wall Street to work for at boutique investment banking and brokerage firm Gruntal & Co. as a junior trader in the options arbitrage group.
We've all heard the Wall Street legend that he made $8,000 his first day and was bringing in around $100,000 each day.
The super-secretive SAC Capital is one of those closely followed hedge funds on Wall Street. Here are some details about it what the trading floor is like:
The 20,000-square-foot trading room at SAC Capital Advisors, chilled to 70 degrees to keep traders alert, was hushed. Mr. Cohen, who sits at its center, likes it that way. Phones blink rather than ring. Computer hard drives had been moved off the trading floor to eliminate hum. Rows of traders wearing SAC fleece jackets watched Mr. Cohen nervously, waiting for an order to sell shares.
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Another interesting tid-bit about SAC is Cohen hired an in-house psychiatrist for his traders.
In the early 1990s, Cohen hired psychiatrist Dr. Ari Kiev, who has worked with Olympians, to coach his traders in coping with stresses from the market.
What's more is there are very few photographs of him.
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He did make an appearance on a talk show back in the 90's where he talked about sleeping with his ex when he was dating Alex.
It's widely known that Cohen is press-shy and super-secretive.
However, back in 1992 he made an appearance on an incredibly famous Hispanic talk show, "Cristina" (she's like a Latin American Oprah) in an episode called "He Acts Like Her Husband, Too."
During the episode, Cohen talked about sleeping with his ex-wife when he started dating Alex, his current wife. He stopped when he got engaged.
His impressive art collection, which is said to be worth around $1 billion, includes pieces by Monet, Picasso, Jasper Johns, Jeff Koons, Damien Hirst, Willem de Kooning, Francis Bacon and Andy Warhol, according to a 2010 Vanity Fair profile.
Cohen, who is seen as a fixture at Art Basel, is missing at this year's high-profile art show in Miami, the New York Times reported.
"It’s the same with trading. I think about the risk. I think about the trade. I don’t think about the money. Poker—that was the biggest determinant in my learning to take risks," he told Vanity Fair in 2010.
In February 2012, he bought a 4 percent stake in the Major League baseball team for $20 million, Reuters reported citing a person familiar with the deal.
He's in the spotlight now after being implicated in the latest insider trading case. He has not been charged.
Last month, former SAC portfolio manger Mathew Martoma was charged in what is believed to be "the most lucrative" insider trading scheme ever.
Martoma worked at CR Intrinsic Investors, a subsidiary of SAC. He has been accused of using negative confidential drug trial info in pharmaceutical companies, Elan Corporation and Wyeth, between the summer 2006 and mid-July 2008.
Several media reports have identified "Portfolio Manager A" in the complaints as Steve Cohen.
Cohen told investors in a client conference call that he's confident he acted appropriately. He has not been charged. He might not ever be charged.