Criminal prosecutions of high level employees , a huge civil investigation , astronomical legal bills and the uncertainty of " what's next " , have all had a significant impact on SAC Partners ! I'm a firm believer, that if the Government wants you bad enough, they'll somehow destroy you. (see John Gotti, et al).
I think you're seeing the end of SAC Partners as you previously knew them . Already, most or all of the outside $ is gone. The London office is closing. Defections I assume are numerous. Layoffs are happening, units/divisions are closing. Shrinkage is inevitable.
What will SAC look like in say 2 years? Stamford office only. 400-500 employees. Managing only about $5 billion ...All Steven Cohen's . Profits and management fees way down. But somehow, they'll survive.
Hey, Cohen may even have to sell a few more Monets. Life sucks, I guess.
No comments:
Post a Comment