Where Hedge Fund Mogul Steve Cohen Learned to Trade
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Before the billions in personal wealth, the Jeff Koons sculptures, the mansion with its own hockey rink, and the withering scrutiny of the Securities and Exchange Commission, SAC Capital founder Steven Cohen made his name as a trader at a firm called Gruntal & Co. It had a rocky history, to say the least.
Gruntal went out of business in 2003. But when Cohen joined the small brokerage house in 1978, it was on the brink of a lucrative run, eventually growing through the bull market of the 1980s to become the 14 largest brokerage in the country, with more than 30 locations and hundreds of employees.