S.A.C. Capital Wanted to Know If There Was a Penny Change…

Mar 10, 2017
J. Webster
Comments Off on S.A.C. Capital Wanted to Know If There Was a Penny Change…

S.A.C. Capital did a lot of trading of stocks…and they demanded something in return for all that stock trading. If a firm was going to change their expectations of a company’s earnings, even by a penny, they wanted to know before anyone else. That’s just the way it worked they thought. If they were spending so much money with a firm trading stocks…they wanted to know if any analysts changed their earnings estimates or if they were going to upgrade or downgrade a stock. So it’s what S.A.C. Capital demanded of Goldman Sachs, it seems…

And interestingly enough, the new chief economic advisor to President Donald Trump, Gary Cohen, had some thoughts on doing business with S.A.C. Capital.

The book Black Edge about S.A.C. Capital’s and its founder Steve Cohen is full of amazingly crazy stories and details like this one. It’s a must read if you’re interested in the stock market and the investing world.

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