A botched case against Hedge Fund Billionaire Steve Cohen

Steve Cohen, Chicago billionaire hedgy, is without doubt enjoying his 4th of July weekend holiday. Throw some more dogs on the grille, baby. It's party time. Invite the neighbors, honey.

It looks as if the federal prosecutors have either botched the case against him or didn't have enough of a case all along.

This case was about the insider-trading scheme run by SAC portfolio manager, Mathew Martoma.

Insider trading is always so very tough to prove. However, it gives lawyers on both sides something to do. And in a tough employment environment for jobs for lawyers, it could be viewed on win-win terms for the legal industry.

Enjoy watching Cubs baseball this weekend!

Steve.

SEC has a mole in the SAC probe

According to the Wall Street Journal, it looks like the government has an informant in the SAC Capital Advisors probe involving billionaire Steven A. Cohen.

Six former SAC employees have been convicted or plead guilty to various charges.

Steven Cohen of SAC gets a Wells Letter

Steven Cohen of SAC gets a Wells Letter from the SEC.

Billionaire hedge fund manager shoots back saying the firm "acted appropriately."

Billionaires continue to buy Netflix

Betting on a continued turnaround at Netflix (NASDAQ:NFLX), billionaire investors such as Julian Robertson and Steven Cohen continue to build positions in the stock according to SEC reported data.

7/24 update ---

Businessweek article-Netflix's 2Q numbers disappoints, stock tumbles