the hedge fund formerly known as SAC Capital

  • 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 »

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]

  • 21 Aug 2014 at 3:58 PM

Steve Cohen Betting On Steve Cohen

Now, people close to Cohen say he has quietly and methodically launched a multi-pronged effort to eventually make his full return to the hedge fund business, even if many legal experts say the odds are low that he will prevail. “I would say Steven Cohen’s chances are about as good as Michael Milken’s would be” for returning the securities business, said Columbia Law School professor John Coffee, referring to the tarnished junk bond pioneer. Still, Coffee added, “a lifetime ban allows you to reapply five years later for readmission,” meaning it’s not impossible. [FBN]

The more things change, the more they stay the same, except if we’re talking about Patagonia fleeces, which these clearly are not, although perhaps these are those will be issued for Fall/Winter.

Earlier: Everything’s Going To Be Alright: A Sign From Stamford

Related: “What the hell am I supposed to do with these?!”

“Confusion and inaccuracy” is what we’re calling you-know-what now (insideray radingtay). Read more »

  • 03 Jun 2014 at 12:10 PM

Someone Still Believes In Steve Cohen

It may be the woman with whom he shares a marital bed, but every person counts. Read more »

  • 28 May 2014 at 6:07 PM

Steve Cohen Cohen’s Summer Is Looking Up

It could be months, maybe even years, before there is a resolution of the Securities and Exchange Commission’s administrative case against the billionaire investor Steven A. Cohen, whose former hedge fund pleaded guilty to insider trading. In a letter Wednesday to the administrative judge overseeing the S.E.C.’s action against Mr. Cohen, which accuses him of failing to supervise his employees, federal prosecutors requested an extension of an earlier stay that has been in place since August. Prosecutors want the proceeding stayed pending the outcome a closely watched appeal of the convictions of two former hedge fund managers, which could lead to new trials not only for them but potentially others convicted of insider trading. [Dealbook]