Fund Of Funds Guys Are Worried About What Will Happen To SAC Capital If Steve Cohen Buys The Mets

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]

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42 Responses to “Fund Of Funds Guys Are Worried About What Will Happen To SAC Capital If Steve Cohen Buys The Mets”

  1. guest says:

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

  2. Sss says:

    stutter much?

  3. JR says:

    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. Chompers says:

    Hey, nice gunt!

  5. CoveredLong says:

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

  6. Jules says:

    nice Pulp Fiction ref, Bess…

  7. Brian1284 says:

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

  8. Fuck Yo Couch says:

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

  9. Andy18 says:

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

  10. Heywoodjablome says:

    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 $$$.

  11. bud selig says:

    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.

  12. Bradley Balter says:

    I’m so humble and media shy…

  13. Bradley Balter says:

    I’m so humble and media shy…

  14. nervous says:

    the std deviation of these posts is very, very high

  15. nervous says:

    the std deviation of these posts is very, very high

  16. mrs. balter says:

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

  17. mrs. balter says:

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

  18. mrs. balter says:

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

  19. SteveCohen says:

    Here is my jock strap boys. Enjoy it!

  20. Guest says:

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

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