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After a few seconds of googling past the headlines blaming some kids on reddit. "Cohen’s former hedge fund, SAC Capital, came to dominate share trading on Wall
by boredumb 6y ago
After a few seconds of googling past the headlines blaming some kids on reddit.
"Cohen’s former hedge fund, SAC Capital, came to dominate share trading on Wall Street before it pleaded guilty to insider trading charges in 2013 and paid $1.8bn in penalties. Cohen escaped criminal indictment himself despite being the living, breathing heart of SAC Capital (its name came from his initials) and now runs a private fund with $11bn in assets." (Point72 is the fund under Cohen who contributed nearly a billion dollars to Melvin for funding of these shorts)
These are people who have and are doing shady things and are getting collectively punished by people who's financial expertise stems from pepe the frog predictions moreso than the government did.