• 07 Apr 2014 at 2:36 PM

Today Is Not Just Another Monday

October 12, 1492. July 4, 1776. July 21, 1969. All dates of such historical and cultural significance that if you asked someone where they were on that day, they’d surely be able to tell you. Because they weren’t just any old days; they were moments when everything changed. When seismic shifts in history occurred. When everything that came after it would be different than before. The day Christopher Columbus reached land; the day Congress the adopted the Declaration of Independence; the day we put two men on the moon. Today, another date will be added to the history books: April 7, 2014. The day SAC Capital changed its name to Point72 Asset Management.

They’ve changed the sign. They’ve changed the email address. And presumably they will soon be giving out new fleece jackets at Point72 Asset Management, the new family office that will trade billions of dollars of Steven A. Cohen’s money and is the legal successor to his once-mighty SAC Capital Advisors hedge fund. The retirement of the SAC name happened quietly over the weekend, and it does not appear that Mr. Cohen is planning any big celebration at his firm’s headquarters in Stamford, Conn., to celebrate the occasion.

You’re at your desk today, but on April 7, 2025, you’ll be enjoying the day off and explaining to your kids the origins of this national holiday. And that daddy’s not crying because he’s sad, he’s crying because he knows where he was the day investing changed, the day that altered the way he thought about the world, the day that food started tasting different. Then you’ll ruffle his hair and tell him your life is separated into two distinct parts: BP72 and AP72.

SAC Capital, Meet Point72 Asset Management [Dealbook]

14 comments (hidden to protect delicate sensibilities)
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Comments (14)

  1. Posted by guest | April 7, 2014 at 3:13 PM

    i have something in my eye.

  2. Posted by Captain Obvious | April 7, 2014 at 3:13 PM

    I'm sure Stevie yearns for simpler days when all he had to worry about was suing his neighbors to build a bigger shitteria in his castle

  3. Posted by guest | April 7, 2014 at 3:13 PM

    It'll always be SAC Capital in my heart.

    -nostalgic guest

  4. Posted by Sad Sac | April 7, 2014 at 3:15 PM

    Sometimes even the best of us can get a bad case of the Mondays….

  5. Posted by guest | April 7, 2014 at 3:17 PM

    did this actually happen?

  6. Posted by Lowly Assistant | April 7, 2014 at 3:26 PM

    Pearl Harbor: 12/7; 12+7=19
    September 11: 9/11; 9+11=20
    The Day the Fleeces Died Day: 4/7; 4+7=11

    NOTICE A TREND???

  7. Posted by guest | April 7, 2014 at 3:27 PM

    go on…

  8. Posted by jj Chimpihan | April 7, 2014 at 3:31 PM

    trend …. zzzzzzzzzzzzzzzzzzz

  9. Posted by Quant me maybe ... | April 7, 2014 at 3:33 PM

    Combination to your locker in high school?

  10. Posted by Martoma Steinberg | April 7, 2014 at 3:37 PM

    We'll always have SAC taint.

  11. Posted by Man AHL PM | April 7, 2014 at 3:38 PM

    Hey !

  12. Posted by guest | April 7, 2014 at 4:43 PM

    It moved.

    -T. Durden

  13. Posted by Hmmm... | April 7, 2014 at 5:38 PM

    It was actually July 20, 1969, in Stamford, CT, the location by which the timing of all celestial events should be calibrated…

  14. Posted by LP Ethics | April 8, 2014 at 12:25 AM

    Still think he should have gone with "Insider Trading Capital" or "Frontrunners Capital"

    More jazz hands…