SAC’s top consumer trader draws scrutiny from U
Plotkin, a specialist in consumer and retail stocks who makes investment decisions for more than $1.2 billion worth of canada goose outlet nyc assets, is among several SAC portfolio managers whose trades are being investigated, said the source, who did not want to be identified. The source would not name the other managers.The two sources cheap canada goose uk said it is too soon to conclude if there was any canada goose uk outlet insider trading.Plotkin, Canada Goose Outlet who is based in New York and works for SAC Capital uk canada goose outlet Sigma Capital Management division, did not return a request for comment.Plotkin canada goose uk shop has built a successful career on a commitment to sound fundamental research, said an SAC Capital spokesman, who declined to comment on the Weight Watchers canada goose coats probe.With canada goose clearance sale a hedge fund the size of SAC Capital, which was founded 20 years ago by Steven A. Cohen, it is not uncommon for many portfolio managers to be trading the same stocks.Over the past two years, Plotkin, 34, has emerged as canada goose store one of the most successful portfolio managers at SAC Capital, said this person. Plotkin and his wife own a condo on Manhattan Upper East Side, as well as a home in Southampton, which is part of the Hamptons summer playground for the city wealthy.The Weight Watchers inquiry, first reported by Reuters on Dec. 7, is focusing on trading by SAC uk canada goose Capital in the first half of 2011 Canada Goose Parka when the Stamford, Connecticut based hedge fund bought and sold some 2.1 million shares during a period when the diet company stock price roughly doubled.Plotkin is one of 11 Canada Goose Jackets portfolio managers at SAC Capital who trade consumer and retail stocks.Plotkin, canadian goose jacket who came to SAC Capital in 2006 from North Sound Capital, is widely known in the $2 trillion hedge fund industry as one of the top consumer Canada Goose Coats On Sale and canada goose factory sale retail traders, said several people who know him.Plotkin name recently surfaced in several emails that federal prosecutors introduced canada goose coats on sale into evidence in a separate insider trading case. In that case, Todd Newman, a former portfolio manager at Diamondback Capital Management, and Anthony Chiasson, co founder of Level Global Investors, on Monday were convicted of illegal trading in Dell Inc shares.The emails involved discussions by Jon Horvath a former trader at SAC Capital Sigma division who pleaded guilty in September to trading on inside information with his former supervisor, Michael Steinberg, and Plotkin. The prosecutors used the emails to persuade a federal judge to declare Steinberg buy canada goose jacket cheap an uncharged Canada Goose online co canada goose black friday sale conspirator for https://www.getcanadagooseoutlet.ca canada goose clearance the purposes of the trial.In the emails, reviewed by Reuters, there was a discussion between Steinberg and Horvath about Dell upcoming earnings. These emails were also sent to Plotkin. In an August 2008 email to Steinberg and Plotkin, Horvath writes he has a hand read from someone at the company about gross margins and earnings.Steinberg, whose lawyer did not return a request for comment, has not been charged with any wrongdoing. prosecutors, the Federal Bureau of Investigation and the Securities and Exchange Commission Canada Goose Online have been gradually ratcheting up pressure on Cohen, 56, canada goose uk black friday one of the hedge fund industry best known managers. prosecutors charged a former SAC Capital canada goose employee, Mathew Martoma, with using inside information to generate profits and Canada Goose sale avoid losses totaling $276 million in shares of two drug stocks. Martoma has not entered a plea, but his lawyer has said he expects to be exonerated.The SEC also has formally warned SAC Capital that the firm could face civil charges.The investigations have not cheap Canada Goose had a visible impact on SAC Capital investor redemptions buy canada goose jacket or employee turnover.