the hedge fund formerly known as SAC Capital

Told you I was good for it.Courtesy of Big Steve and your friends at SAC Capital Advisors Point72 Asset Management, via the SEC and the federal courts. Read more »

  • 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]

Steven A. Cohen proved to be a stickler for the letter of the law when it came to paying the criminal penalty imposed on his former hedge fund as part of its guilty plea on insider trading charges. On April 10, Judge Laura Taylor Swain of Federal District Court in Manhattan gave Mr. Cohen’s SAC Capital Advisors up to 90 days to pay the $848 million penalty, part of an overall $1.2 billion criminal settlement reached with prosecutors last November. On Tuesday, the 90th day since Judge Swain accepted the firm’s guilty plea, Mr. Cohen’s firm made that payment, according to court records. [Dealbook]

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 »