Garment-Makers Working 24/7 To Have Point72 Fleeces Ready By April 7

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As you've probably heard by now, the upper echelons of SAC Capital management have selected a new name for the firm and its sub-units as part of an effort to close the insider trading/government cavity search chapter of its history and begin anew (next month). They've gone with Point72 Asset Management, inspired by the firm's Stamford address (72 Cummings Point Road) and honestly? We're not loving it. What was once a name that evoked confidence, excitement, and yes, fear, all in equal measures, now brings to mind a Kia. What could have been "King of Diamonds Capital Management" is now directions once you get off 95.

There is, however, a small glimmer of hope, buried beneath Point72 and EverPoint and all of the other points and the off brand "Cubist Systematic Strategies."1 To his secretive2 "personal investments," the great man will continue to lend his name.

The firm’s two new equity-trading units will do business as Point72 Asset Management and EverPoint Asset Management, while its quantitative-trading business will be called Cubist Systematic Strategies, Conheeney said. Cohen’s private investments will be managed by Cohen Private Ventures.

In this name we can still picture someone telling his idiot portfolio managers to go home; someone perched in his nest above the trading floor, without an anti-fraud layer of authority between him and the people losing him money; someone secretive, defiant and maybe still a little unscrupulous (but only on the matter of hot dogs). In this name, we still have something and someone to believe in.

A New Name for SAC Capital: Point72 [Dealbook]
Cohen’s SAC Capital to Rename as Point72 Asset Management [Bloomberg]

1. I don't actually mind this, but if you're going to do it, really do it, i.e. the other funds should be Impressionist Strategies, Dadaism Capital Management, Surrealism Investors, and so on and so forth.
2. It's a family office: aren't they all his private investments?

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