Point72 Academy Is A Real Thing That Exists

Class is in session.
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Over the last couple of years, following the period in which Preet Bharara forcibly inserted his foot up SAC Capital's ass, a lot of big changes have gone down at the hedge fund. It turned itself into a "family" office, and gave back money belonging to anyone not related to or employed by Steve Cohen. It said good-bye to some of Cohen's top lieutenants, including president Tom Conheeny and general counsel Peter Nussbaum. And, of course, it changed its name, from its founder's initials to Point72 Asset Management, a move that, among other things, made first edition SAC Capital fleeces a hot commodity on the black market. Oh, and also, it started a 15-month training program for college graduates whose working title was presumably "Point72 Country Day School," "The Point72 School," "Point72 Collegiate," or "Point72 School for Boys."

The academy program is the first of its kind, and it's intensely competitive. It launched in August, and only 12 of 400 applicants were accepted for its first year. Spots are already filling up for next year's class...The program begins with classes in the fundamentals of finance and economics. Students study accounting, statistics, and economics. Around four months in, they graduate to more real-world pursuits: company research and modeling. For about 10 months, they then cover companies in various sectors under the guidance of the academy. Then they get to start rotating across porfolio-management teams. Altogether the program runs about 15 months, but for some students it can be as short as 12 months, depending on their progress.

Like any elite prep school, there are uniforms:

Point72 keeps the office cold to make sure everyone is awake. Luckily, academy students all got matching fleeces.

...though at this time, no mascot or Latin motto. If you've got any suggestions please share at this time.

Inside Steve Cohen's groundbreaking 'Academy' poaching young talent from Wall Street [BI]

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