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| uBXZcjSJzjQBudeylM [2021-05-01] |
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In the fifteen or so years since I first heard of Stevie Cohen, Wall Street banks that financed and traded with SAC, all of its sophisticated investors, street smart competitors, and everyone who knew about SAC, turned a blind eye even as SEC investigations were underway and indictments were piling up. As industry leader Blackstone debated whether to redeem a portion (a portion?) of its investment in SAC on a June 3 deadline this year, other investors were staying put. The New York Times reported in May that Ed Butowsky, managing partner of Chapwood Investments in Dallas and regular media commentator, summoning his inner Colonel Klink, summed up their thinking this way: “All I know is that the returns are coming in nice, and my clients are happy.”
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