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Matt Levine

Steve Cohen Will Be Back in 2018. That's Good.

And he'll be more compliant than ever.

Here's a simple model of Steve Cohen:

In this cold dark time of year, when hedge funds are constantly being criticized, losing money and shutting down, it is heartening to remember that there's at least one hedge-fund manager with a multi-decade record of consistent outperformance, and frustrating to remember that no one can invest with him. Come back, Steve Cohen! An embattled industry needs you.