Steven Cohen used to woo potential investors to his hedge fund, SAC Capital Advisors LP, by promising in marketing materials to give them an “edge,” Bloomberg News reported on Saturday. Now that four-letter word, used 14 times in the insider-trading indictment of the $14 billion hedge fund he founded, has come back to haunt him. In the 41-page indictment filed on July 25, prosecutors alleged that Cohen and his top managers sought to hire traders and analysts who had the ability to deliver any kind of “edge” over the market. The case is U.S. v. SAC Capital Advisors LP, 13-00541, U.S. District Court for the Southern District of New York (Manhattan).
