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BNNY Message Board

  • jdprofile_1 jdprofile_1 Jan 11, 2013 10:09 AM Flag

    SAC Forced to Sell Their BNNY Position

    In today's WSJ "SAC has told employees and business partners it is bracing for client withdrawals of at least $1 billion this year—nearly 17% of the money it manages for outside investors" due to the SEC insider trading probe.

    SAC (through Sigma and Steve Cohen) own 860,000 shares. SAC fired 11 portfolio managers recently and its very likely that this #$%$ stock was held in one of the funds with a bottom quartile manager most likely to get fired. Seems pretty likely that SAC will be selling its shares when those funds get shut down - and I wouldn't want to be around as a long when that happens.

    Happily short.

    Sentiment: Strong Sell

45.97-0.01(-0.02%)Oct 20 4:01 PMEDT