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Steven A. Cohen lives large

By Laurie Bennett

March 29, 2013 at 10:10am

It’s not that Steven A. Cohen is thumbing his nose at regulators, journalist Andrew Ross Sorkin explained Friday on MSNBC.

It’s just that he likes big numbers.

In recent weeks, Cohen, the billionaire founder of S.A.C. Capital Advisors, has paid $60 million for waterfront property in the Hamptons and a reported $155 million for a Picasso painting.

Forbes estimates Cohen’s total wealth at $9.3 billion.

The high-profile acquisitions follow his hedge fund’s agreement to pay $616 million to settle insider trading lawsuits. A portfolio manager at the fund was arrested at his Park Avenue apartment early Friday.

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