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One of the colleagues forwarded the e-mail to Cohen's personal research trader, who forwarded it to Cohen — and then telephoned him.
According to Cohen's legal team, he looked at just eleven per cent of them, and at only about twenty-one per cent of the e-mails from the research trader who had forwarded the "2nd hand read" e-mail.
The suggestion that he ignored eighty per cent of the messages from his own research trader, whose job was to alert him to critical market information, struck them as absurd.
Though shy, he quickly showed he was a natural born trader "not a charts and research" trader but a visceral trader whose great instinct would benefit many people, for decades to come.
The information had been passed from a Dell investor-relations employee to an analyst at an investment fund and then to an analyst at another fund before reaching Horvath, whereupon it went to Steinberg, then to another portfolio manager, then to Cohen's research trader, and, finally, to Cohen.
Similar(55)
He is a liaison among the research department, traders and clients.
Those 300 research analysts, traders and sales people… All have moved on, either made redundant or left on their own accord.
On Tuesday, following reports by an analyst and a research firm, traders decided Apple was ripe for a buy.
At these gatherings, attended by client and proprietary traders, research analysts would identify stocks they thought were likely to rise or fall because of coming earnings announcements, the direction of the overall market or other short-term developments.
It also requires having research coverage and traders who make a market in the stock.
Coates team based this study on the findings of previous research conducted with traders in the City of London, which found that cortisol levels rose by 68percentt over a two week period when market volatility increased.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com