Ex-SAC Hong Kong trader readies hedge fund to bet on price swings

Miaodan Wu, a former portfolio manager at billionaire Steven A. Cohen’s hedge fund SAC Capital Advisors, is preparing to launch his own hedge fund in Hong Kong to bet on price swings in financial securities, people familiar with the matter told Reuters.

Wu was among at least seven SAC Capital staff who left Hong Kong this year, at a time when Cohen and his firm are drawing increased scrutiny in the US government’s long-running investigation into insider trading.

via Business feed http://www.scmp.com/business/money/investment-products/article/1250456/ex-sac-hong-kong-trader-readies-hedge-fund-bet