Point72 Asset Management

  • 16 Oct 2014 at 2:36 PM

Steve Cohen Makes Money For Steve Cohen

Point72 Asset Management, AKA the hedge fund formerly known as SAC Capital, whose largest client by far is a guy who answers to the name Steve Cohen, has turned in some pretty decent performance so far this year, despite a series of events that have led it to do stuff like, among other things, monetarily compensate employees for staying on the right side of the law. Read more »

Time was, the unofficial policy at (the hedge fund formerly known as) SAC Capital was that one could earn a pretty penny come bonus season if one made the firm a ton of money, and if that money happened to be made through material non-public information well…whatyougonnado? At SAC Capital 2.0 AKA Point72 Asset Management, however, insider trading is not only frowned upon, it’s both officially and unofficially a bad idea and one that could cost you big time on payday (though one would obviously be fired before that, unless payday is the day they get caught).

But just because the company handbook has been rewritten, or Steve Cohen has held a town hall where the words “If we catch you insider trading, I’ll stick my hand down your throat and rip out your spleen” have exited his mouth, or the hedge fund’s propriety trading software has been rewired so that a cartoon Cohen pops up on the screen and says “Remember, I can make it look like an accident” before any trades are placed, doesn’t mean that people can change their ways in a day. Old habits die hard, particularly at a place where those old habits could score you 8 figures a year.

Which is presumably why* someone at Point72 came up with this: Read more »

Billionaire Steven A. Cohen is reorganizing the equities business of his Point72 Asset Management investment firm into seven units to improve accountability. The seven units, organized along industry and geography lines, will each be run by a sector executive, according to a memo sent to employees today from Point72 President Douglas Haynes. The executives will supervise all money managers within their unit and be assisted by a sector executive officer overseeing the group’s analysts, the memo said. Each unit will have officers overseeing compliance, risk and research. The changes are effective immediately. [Bloomberg]

Steve Cohen Is Looking For A New Right Hand

The incredibly-named Chandler Bocklage, last seen shilling for Steve at that Martoma guy’s trial, has moved on. As have six other Point72ers. Read more »

That’s about the only effect of yesterday’s move to revoke SAC’s CFTC registration because of, you know, the insider-trading and whatnot, since family offices like SAC er, Point72 don’t need the CFTC’s permission to do anything. Read more »

Hint: One’s run by a hot-dog enthusiast and starts with a “P” and ends with an “oint72.” Read more »

  • 08 Sep 2014 at 2:26 PM

Point72 Asset Management Down One Speed Racer

Paul Orwicz has left the building and maybe burned rubber peeling out of the parking lot. Read more »