Sifting through the 98% of resumes showing up on Cummings Point Road not fit for Point 72’s recycling bin is not just onerous and depressing. It’s becoming a near-existential crisis, what with a whole new hedge fund to staff. Now, Cohen & Co. are doing what they can to shape and mold the next generation of investors, but the first class at the Point72 Country Day School won’t graduate until August at the earliest, and there are only 12 of them. Those numbers just aren’t going to cut it—they can barely replace the number of portfolio managers Steve Cohen fires on a bad day. So it’s time to dig a little deeper and get a little younger.
On May 20th, the fund will host its inaugural Sophomore Summit, a one-day investment education program for a highly select group of undergraduate sophomores held at Point72’s Stamford, Connecticut headquarters….
For its inaugural summit, Point72 received approximately 400 applications from students at 40 different universities from a variety of different academic backgrounds….
The newly launched Sophomore Summit is just one piece of a three-stage journey for Point72 recruits. College juniors are eligible for the full summer internship program. That program in turns builds upon the opportunity to join the Point72 Academy after graduation.
Can it be long before a Hogwarts-like structure grows on the disused backyard ice-skating rink, where Headmaster Cohen can begin instructing promising adolescent charges in the formerly dark arts of money management? Perhaps a breeding program among the most successful Point72ers, the resulting offspring taken off to a specialized nursery to be developed as an elite and unstoppable army of investing Übermenschen? Ray Dalio’s principled robots will be no match.