Ha. That would have been chump change for Stevie Cohen at SAC Capital. He charged 3% and 50%.[1] Alas for Stevie, a few Debbie Downers at the US Attorney's Off

Ha. That would have been chump change for Stevie Cohen at SAC Capital. He charged 3% and 50%.[1] Alas for Stevie, a few Debbie Downers at the US Attorney's Office (Southern District of NY) decided that some of Stevie's trades were too well timed for there not to be insider trading. That resulted in criminal convictions and jail time for some of Stevie's portfolio managers (but Stevie was never personally charged with insider trading, he was only charged with "failing to supervise"). So now poor Stevie no longer manages other people's money. Instead his firm only manages the $10 billion or so that is his own money. [1] http://www.forbes.com/sites/nathanvardi/2013/07/24/the-government-is-moving-to-destory-legendary-hedge-fund-firm-sac-capital/ http://www.forbes.com/sites/nathanvardi/2013/07/24/the-gover...