Steve Cohen Is A Quant Now

Well, he's not, but 30 of his new employees are.

Having had to ween himself from (allegedly!) “black” edge info some time ago, Steve Cohen finds his skin still crawling and his mouth still dry in its absence. So he’s hiring a crack team to find him some new, legally-sanctioned edge.

Point72 Asset Management, the successor to Cohen’s hedge fund SAC Capital Advisors, has hired about 30 employees since the start of last year to build computer models that collect publicly available data and analyze it for patterns, according to two people with knowledge of the matter.

The hires are part of a project to expand quantitative investing, dubbed Aperio, that’s spearheaded by President Doug Haynes, said Mark Herr, a spokesman for the Stamford, Connecticut-based firm. Point72 is in the process of hiring a manager to oversee the strategy, he said….

Cohen’s Point72 Hires 30 People for Big Data Investing [Bloomberg]