Robert Jaffe

I believe the irrationality in the market generally tends to be more focused on the long side. As a result, I think that overall there are more incorrectly priced short opportunities than long opportunities. I [also] just consider shorting to be more intellectually stimulating. Like a lot of things in the markets and in life, [...]

Robert Jaffe

We generally expect to hold something for a long time in order to realize the value we believe is there. But one thing I learned from [SAC Capital's] Steve Cohen is to be sensitive to when the market over-appreciates something in the short term and to harvest some of your gains. Markets inevitably react to [...]

Robert Jaffe

[SAC Capital's] Steve Cohen thought it was the silliest thing in the world to try to capture the first and last part of a stock's move those were the most dangerous parts of investing. For me, I'd like to capture more of the early part of the move and leave the latter part for somebody [...]