Sacked SAC Trader Alleges Boss Made Him Girlie-Man
Steven Cohen's hedge fund, SAC Capital Management, is weird. With the combination of its founder's Svengali-like persona (super-traders are "totally committed to their own particular style and demonstrate complete conviction when trading," he once wrote), over-the-top richness (fun things at his Greenwich mansion include Damien Hirst's shark in formaldehyde and a skating rink in the backyard), and Pentagon-level of secrecy, it's always seemed like the kind of place where the employees probably get all Eyes Wide Shut after hours. And as it turns out, that might not be so far from the truth! We're late to the party on this one, but yesterday afternoon, Charles Gasparino at CNBC reported new details in the sexual-harassment suit filed against SAC by a former junior trader, 37-year-old Andrew Z. Tong. The suit was filed in the spring but sealed yesterday by a non-fun New York State judge, on the grounds that it was too salacious for public consumption. However, CNBC was able to obtain some veryjuicy details.