As you may have heard, Steve Cohen recently put in a bid for a minority stake with the Mets. Should he be successful, the SAC Capital founder’s partial ownership will please a great many people- the organization, which needs the money, the players, who need the discipline, the SAC employees, who will have the honor of taking turns filling in for Mr. Met when his performance is deemed shit and most of all, the fans, who stand to benefit the most from Steve’s leadership, as you don’t win rings without having a guy around who will light a fire under everyone’s ass. It’d unquestionably be a win-win situation for all. And yet.

A coupla guys named Brad and Brett are worried. Worried that Steve will lose focus. Worried that he won’t be able to handle owning a Major League Baseball team and running SAC Capital.

“Owning a team can be a function of ego, it is very high-profile, and it could prove to be a distraction,” says Brad R. Balter, head of Boston-based Balter Capital Management, which farms out money to hedge funds. “As an investor, I have to consider that.” Words to bear in mind for Steven A. Cohen, the billionaire hedge fund manager who is bidding for a minority stake in the New York Mets. Investors such as Balter are watchful for signs fund managers have become less attentive to their day jobs. “We don’t begrudge managers getting rich, but we want to invest with people who are motivated and are concentrating full-time on managing money,” says Brett H. Barth, a partner at New York-based BBR Partners, which invests in hedge funds.

The little brains on Brad and Brett– most likely not SAC investors though they’d kill a man in cold blood for the privilege– seem to think that it takes constant monitoring of all markets as well as an extreme attention to detail to run an ultra successful hedge fund manager, and that were Steve to start going out on school nights and not put in 100 hours a week keeping up with his stocks, that the whole thing would fall apart. What they fail to get? Is just how easy this is for SC. Trading these markets? It’s a fucking joke to him. He could do it from the dugout during the 8th inning of a Johan Santana no hitter, whereas Brad and Brett could be given could be given an order to cover a short position and all they’d do is fumble around and fuck it up.

When Hedge Fund Owners Invest In Sports Teams [BusinessWeek]

42 comments (hidden to protect delicate sensibilities)
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Comments (42)

  1. Posted by guest | April 21, 2011 at 3:33 PM

    If Brad and Bret don’t like it they can have UBS manage their money. Otherwise, man up, grab your nuts and STFU

  2. Posted by Sss | April 21, 2011 at 3:43 PM

    stutter much?

  3. Posted by JR | April 21, 2011 at 3:43 PM

    This is another example of Bernie Madoff’s brilliance and why his fund of fund investors cannot be blamed for their failure to discover his fraud: Bernie never showed any interest in owning a professional sports franchise. Given that, how could anyone have suspected that something was amiss?

  4. Posted by Guest | April 21, 2011 at 3:44 PM

    uh…what?

  5. Posted by Guest | April 21, 2011 at 3:45 PM

    Frontrunner for worst comment of the day.

  6. Posted by Chompers | April 21, 2011 at 3:46 PM

    Hey, nice gunt!

  7. Posted by CoveredLong | April 21, 2011 at 3:46 PM

    …they said the same thing about BRK’s Dairy Queen acquisition – look how that turned out, oh right, swimmingly, perhaps downright lovely.

  8. Posted by Jules | April 21, 2011 at 3:50 PM

    nice Pulp Fiction ref, Bess…

  9. Posted by Lewis Winthorpe III | April 21, 2011 at 3:56 PM

    Ahead of the Tape gave a little nod to PF today as well with Le Big Mac.

  10. Posted by Brian1284 | April 21, 2011 at 3:57 PM

    Maybe Cohen can help improve the Mets ATS numbers, 1 – 9 in the past 10 games.

  11. Posted by Fuck Yo Couch | April 21, 2011 at 3:57 PM

    Jesus fucking christ. Another Mets post? Seriously? Why don’t you just rename this place Mets Baseball Insider?

  12. Posted by JR | April 21, 2011 at 4:14 PM

    Might have jumped the gun on that one Sparky. Please reference “### yo Couch” below.

  13. Posted by Andy18 | April 21, 2011 at 4:14 PM

    Those who can, do
    Those who can’t, work in fund of funds

  14. Posted by Fuck Yo Couch | April 21, 2011 at 4:25 PM

    You’re an idiot.

  15. Posted by Heywoodjablome | April 21, 2011 at 4:26 PM

    Balter was a UBS bond broker riding his daddy’s coat tails. Now he is a Fund of Fund expert? He also said Larry Robbins at Glenview would never make investors any $$$.

  16. Posted by Funds of Funds is Tons of Fun | April 21, 2011 at 4:49 PM
  17. Posted by bud selig | April 21, 2011 at 4:52 PM

    As baseball commissioner, let me go on record as saying that the transfer of ownership from an investor in a ponzi scheme to a bona fide hedge fund stud is a trade up for the New York franchise, even if the latter is the subject of multiple subpeonas.

  18. Posted by Guest | April 21, 2011 at 4:53 PM

    You mean the comment that was an obvious joke, as it was based on the one left by NakedShort the other day to mock people who said no more b-school posts?

  19. Posted by huh | April 21, 2011 at 5:32 PM

    And he was right!

    - Glenview ’08 investor

  20. Posted by Chillax | April 21, 2011 at 5:37 PM

    a little less coke during the week dude

  21. Posted by Chillax | April 21, 2011 at 5:37 PM

    a little less coke during the week dude

  22. Posted by Bradley Balter | April 21, 2011 at 5:53 PM

    I’m so humble and media shy…

  23. Posted by Bradley Balter | April 21, 2011 at 5:53 PM

    I’m so humble and media shy…

  24. Posted by Anonymous | April 21, 2011 at 6:22 PM

    or a little more… whichever enhances the posts

  25. Posted by Anonymous | April 21, 2011 at 6:22 PM

    or a little more… whichever enhances the posts

  26. Posted by Heywoodjablome | April 21, 2011 at 6:25 PM

    I’m sure Larry wished Brad managed his $$ in ’08!

  27. Posted by Heywoodjablome | April 21, 2011 at 6:25 PM

    I’m sure Larry wished Brad managed his $$ in ’08!

  28. Posted by nervous | April 21, 2011 at 6:54 PM

    the std deviation of these posts is very, very high

  29. Posted by nervous | April 21, 2011 at 6:54 PM

    the std deviation of these posts is very, very high

  30. Posted by hierarchy | April 21, 2011 at 7:18 PM

    hedge fund manager > FOF managers > financial advisor/wealth manager > stock broker

  31. Posted by hierarchy | April 21, 2011 at 7:18 PM

    hedge fund manager > FOF managers > financial advisor/wealth manager > stock broker

  32. Posted by Guest | April 21, 2011 at 7:18 PM

    wtf are you talking about?

  33. Posted by Guest | April 21, 2011 at 7:18 PM

    wtf are you talking about?

  34. Posted by mrs. balter | April 21, 2011 at 7:56 PM

    LEAVE BRAD ALONE!!!!!!!!!!!!!!!!!!!!!!!!

  35. Posted by mrs. balter | April 21, 2011 at 7:56 PM

    LEAVE BRAD ALONE!!!!!!!!!!!!!!!!!!!!!!!!

  36. Posted by mrs. balter | April 21, 2011 at 7:56 PM

    LEAVE BRAD ALONE!!!!!!!!!!!!!!!!!!!!!!!!

  37. Posted by Brad | April 21, 2011 at 8:06 PM

    Thx Mom. U still luv me. Right!??

  38. Posted by SteveCohen | April 21, 2011 at 8:09 PM

    Here is my jock strap boys. Enjoy it!

  39. Posted by Guest | April 21, 2011 at 8:31 PM

    Brad and Brett – probably a bunch of MBA quacks who know nothing about trading

  40. Posted by Guest | April 21, 2011 at 8:44 PM

    4-20 was yesterday but there’s probably still some around if you ask nicely.

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