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

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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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The end of 2012 might've been a tough one for the SAC Capital founder, what with the matter of a former employee being accused of orchestrating “the most lucrative insider trading scheme ever," being referenced in the complaint as Portfolio Manager A, and ultimately being forced to show the softer side of Steve but the Big Guy still managed to take home $1.3 billion, so he's got that going for him.

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2015 has been good to Little Steve's Hedge Fund Achievers.

New York Mets Might Want To Savor Their Time Under The Tutelage Of Steve Cohen

...because they're about their last! SAC Capital Advisors founder Steven Cohen is the front-runner to purchase the Los Angeles Dodgers. Reports earlier this week indicated that Cohen's bid for the baseball team was a couple hundred million dollars less than that made by former baseball executive Stan Kasten and Los Angeles Lakers legend Magic Johnson. But Cohen's bid now matches the Kasten-Johnson offer of $1.6 billion—and at least half of Cohen's purchase price would come in the form of cash. Indeed, Cohen, who last month bought a small stake in the New York Mets, which he would have to give up if approved to buy the California team, may already be planning for the Dodgers' future. He has reportedly spoken with former Major League manager Tony La Russa about taking the team over under a Cohen regime. [FinAlternatives]