Hedge Fund Manager Forced to Become Chicken Farmer

Chicken Behind a Fence by Sh4rp_i, on Flickr
Creative Commons Attribution 2.0 Generic License  by  Sh4rp_i 

Former high flying hedge fund manager, Marc Cohodes, says that Goldman Sachs forced him to become a chicken farmer. He said that he was short a lot of stock in 2008 but Goldman forced him to cover his shorts and this lead to the collapse of his $1.5 billion fund. Cohodes said:

“I think Goldman Sachs is a racketeering entity that does whatever they can to make a dime without conscience, thought, foresight or care about ramifications,” Cohodes says. “I think they are cold-blooded and could care less [sic] about the law. That’s my opinion. I think I can back it up.”

An article by BusinessInsider mentioned that:

Cohodes recently testified in another Goldman lawsuit unrelated to the closing of his firm, Copper River Fund, that he believed the investment bank never borrowed the shares needed to perform a stock short.

So Cohodes says that since Goldman never had the shares to begin with it forced him to cover his shorts at a loss and at higher prices despite the market crash of 2008/2009. This forced his hedge fund to go under. And since the collapse of his fund, he was forced to become a chicken farmer in Northern California in order to make ends meet.