, Columnist
This Hedge Fund Guy Finds There's Life After Bharara
An insider trading indictment left Michael Steinberg reeling. Vindicated, he's back in the game.
He picked up the pieces.
Photographer: Jonathan Fickies/BloombergThis article is for subscribers only.
On Saturday afternoon, Preet Bharara, the U.S. Attorney for the Southern District of New York and the most celebrated federal prosecutor since Rudolph Giuliani held the same post three decades earlier, was fired by President Donald Trump.
Some 48 hours later, Michael Steinberg, a former top trader with Steven Cohen’s hedge fund, then known as SAC Capital Advisors, is ready to disclose his next act: an early-stage venture capital fund called Reciprocal Ventures, which will focus on fintech (i.e. financial technology) startups. The coincidence is almost too perfect.