The documentary explores the rise and fall of Steve Cohen’s hedge fund, SAC Capital, detailing how Cohen became a legend on Wall Street, but was eventually embroiled in a multi-year federal investigation into insider trading. It covers the importance of relationships in the hedge fund industry, with traders cultivating contacts to obtain market information and make better trading decisions. The FBI investigation uncovered a vast network of corruption in the industry involving multiple hedge funds, and the video discusses how expert networks were used to obtain insider information on publicly-traded companies. The documentary details the illegal activities of SAC Capital, which gained an estimated $275 million by trading on inside information about Alzheimer’s disease clinical trials in 2008, ultimately leading to the largest insider trading fine in history. The video ends by examining the difficulty of holding individuals accountable for criminal behavior within a company.
The TV show “Billions” was based on this guy…
Posted
in
by
Tags: