From the rumor bag: SAC Capital's head of HR, Margaret Belden has followed the example of former in house psychologist Ari Kiev, and broken the bonds of servitude to the king of Greenwich plumbing Stevie Cohen. This leaves the few remaining traders in a quandary as they realize the dilemma of i) not being able to have a headshrinking session after blowing $100 million on progressively more illiquid positions and ii) not having anyone in the office to fire them for this loss. Margaret's move is surprising considering the fund is rumored to be up 3% for the second month in a row.
Stevie Cohen will be forced to hand out pink slips on his own for the foreseeable future.
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