Sartorial Behavior Modification at S.A.C.?
It’s no secret that Stevie Cohen and S.A.C. Capital Management like to keep secrets. Cohen owns the media rights to publish his photographs, makes traders in his group swear on their lives that they won’t disclose any information, never shares his ideas with others and types all correspondence in ǃ’OǃKung.
A New York County Supreme Court decision from May 17, 2007, regarding the alleged sexual harassment of former S.A.C. employee, Andrew Z. Tong, by current S.A.C. employee (and top trader, Yoko Ono neighbor), Ping Jiang, reveals a thin layer of understanding from the culture of secrecy and freakishness onion up in Stamford, CT. Tong first met Jiang back in 1998, when they were both working in the emerging markets department of Lehman Brothers. They went their separate ways in 2001 but kept in touch, and in 2005, Jiang offered Tong a job at S.A.C. Tong took the job, and worked there until his termination, effective April 10, 2006, later claiming that during that time he was subjected to sexual harassment, a hostile work environment, discrimination and retaliation by defendants. So far, so good (there’s nothing ground breaking about sexual harassment, it happens at all the best firms, if you’re lucky).
Some details in the court documents, however, cause pause:
On July 24, Tong met with Jiang both alone and with other members of Jiang's group. Jiang told Tong about his top secret training philosophy, which was to include a program of strict confidentiality and the elimination of Tong's alleged personality flaws by requiring him to wear certain kinds of clothing at work.
What is this “top secret training philosophy”? What kinds of clothes eliminate personality flaws? Are they made of spandex? And if so, are they bike shorts? With piping down the side? Warm-up suits? CORDUROY?? And is this why S.A.C.’s been so successful? Have any of our various hedgie readers ever unwittingly (or wittingly) taken part in something like this? Get it off your chests immediately. We’ve respected Cohen’s don’t ask, don’t tell policy long enough.
Comments
that's so fucking weird.
Posted by: Anonymous | June 15, 2007 09:58 AM
"Cohen owns the media rights to publish his photographs" ... I would own the rights to my photographs too if I was as hideous as Cohen.
"there’s nothing ground breaking about sexual harassment, it happens at all the best firms..." Bess, did you fail to notice that the plaintiff in this sexual harassment case is one ANDREW Tong (presumably a male)? Isn't that a LITTLE unusual? Now the big question, which you should be arduously investigating, is what is Ping Jiang gender?
Posted by: Anonymous | June 15, 2007 09:59 AM
9:59, it's 2007, sexual harrasment knows no orientation. the story isn't that it's two men, it's the "top secret training philosophy" and the "the elimination of Tong's alleged personality flaws by requiring him to wear certain kinds of clothing at work."
Posted by: 10:05 | June 15, 2007 10:04 AM
no, sexual harrassment of a male is definitely unusual, and even more bizarre that he is suing over it
Posted by: Anonymous | June 15, 2007 10:12 AM
Ping, while trading prop at Lehman, had a reputation of a bit of an oddball, but this sounds well beyond mere oddball behavior!
Posted by: Ben _H | June 15, 2007 10:21 AM
Stevie likes it cold in the trading room so I bet the "clothing" was Eskimo pants with the seat cut out (but fur lined).
Posted by: LippyTex | June 15, 2007 10:42 AM
Anon 9:59 -- Ping is a man, barely.
Posted by: Ben_H | June 15, 2007 11:04 AM
Next time my tech guy says he needs to "ping" me, the answer is definitely no.
Posted by: MG | June 15, 2007 11:28 AM
It may be 2007, but male homosexuality is still fucking weird. That's never going to change. So yes, male-on-male sexual harrassment is definitely bizarre, especially on Wall St.. I would love to know what the "top secret training philosophy" and "certain kinds of clothing" are and if they involve massages, generous applications of lubricant, and leather briefs.
"...if you're lucky..."
Posted by: weird asian dudes | June 15, 2007 12:07 PM
odd to say the least
Posted by: mike | June 15, 2007 12:18 PM
worked with Ping on the desk for 3 years, he is an odd duck but never saw any evidence of sexual harassment whatsoever. I'd love to spill the beans on him bein ga Brokeback fan but there's no juice in that berry.
Posted by: no wai | June 15, 2007 01:48 PM
This incident sounds wired. To my instinct, this looks more like a retaliation against former boss with shaky evidence.
Posted by: Robert | September 6, 2007 02:55 PM
"It may be 2007, but male homosexuality is still fucking weird."
Oh catch a wakeup ....
What is weird is at this day and age people still believe in heaven and hell if you break the "rules" determined by some "creator".
Now that is weird ...........
Posted by: Catchawakeup | October 12, 2007 04:58 PM
It's fucking wierd
Posted by: Anonymous | December 11, 2007 04:25 AM
This is fake news.
Posted by: Anonymous | December 12, 2007 08:52 PM