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The Fabulous Life Of Hedge Fund Legend Steve Cohen

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Steve Cohen

Billionaire Steve A. Cohen, who runs the super-secretive hedge fund SAC Capital Advisors, is known on Wall Street for being one of the most successful traders.

He began his Stamford-headquartered hedge fund in 1992 with only $25 million. Today the fund has $14 billion assets under management and employees around 900 people globally. 

During the late 1990s and early 2000s, Cohen came into prominence as a powerful Wall Street trader for his grand slam returns. 

These days he's in the press for another reason.

He has been fingered in several media reports as "Portfolio Manager A" in the latest insider trading case against former CR Intrinsic (a subsidiary of SAC) portfolio manager Mathew Martoma.  

It's widely known that Cohen is the ultimate target of the Securities and Exchange Commission and the Department of Justice. 

While he has been implicated in the latest insider trading case, it's important to keep in mind that he has not been charged with any wrongdoing.  In fact, he may never be charged. 

During a conference call last week where SAC management disclosed that it had received a Wells Notice from the SEC, Cohen told investors that he's confident he acted appropriately and takes these matters very seriously.  

We really don't know the notoriously press-shy hedge fund manager, who rarely gives interviews, all that well.  

Now let's take a tour of his fabulous life and tremendous career and get to know him better. 

He's a Long Island native. He grew up in a middle class family and had a lot of siblings.

Steve Cohen was born on June 11, 1956. He's the third out of eight kids.  

He grew up on Great Neck, Long Island, New York. 

His father worked at a dress manufacturer and his mother was a homemaker who also taught piano lessons

Source: BusinessWeek, Source: WSJ 



In high school, the billionaire worked at a supermarket.

Cohen was a "fruit boy" at Bohack supermarket where he made a $1.85 an hour.

He quit that job because he was making more at the poker table.  

Source: Vanity Fair



He graduated from Wharton with a degree in economics.

He studied economics at the Wharton School of Business at the University of Pennsylvania.  



See the rest of the story at Business Insider

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