Steve Cohen is back in the game.
Steve Cohen’s Point 72 is closing in on 10 billion dollars of investments as the Wall Street trader, known as “rapid-fire trader” returns to managing other people’s money.
Steve Cohen is a big fish in a big pond.
There’s wealthy then there’s ultra-wealthy…Steve Cohen is the latter. He has an estimated net worth of 13 billion USD (2017). He is number 13 on the Forbes 400 list, the 72nd richest person on the planet.
“Steve Cohen is a big fish in a big pond”
WEALTH TRAINING COMPANY
Steve Cohen is that kind of legendary poker player who (through his employees) “would mark the cards”
One of Steve Cohen’s early outfits, S.A.C. Capital was a kind of corporate espionage agency.
So the legendary rapid-fire trader who kept making winning calls raised suspicions of insider dealing with the Securities and Exchange Commission SEC.
The SEC then brought charges of racketeering and insider dealing against Steve Cohen’s S.A.C. Capital. In 2013 the firm pleaded guilty to insider dealing, wire fraud, and four counts of securities fraud and agreed to pay $1.8bn in fines (900M in forfeiture and 900M in fines). It was one of the biggest criminal cases against a hedge fund.
In short, Steve Cohen was not charged, instead he was prohibited from managing outside money until 2018 as part of the settlement reached in the civil case over his accountability for the scandal.
“one of the biggest criminal cases against a hedge fund”
WEALTH TRAINING COMPANY
Despite the huge setback that could potentially damage the integrity and reputation of any money manager Steve Cohen is back in the game
Steve Cohen’s Point 72 total assets under management are just over 17.2 billion dollars.
Steve Cohen is back in the game, which a lot of people thought he would not be able to return to
Many people wonder whether the damage to his reputation would make it virtually impossible for him to raise outside money, but he has proved them to be wrong.
“Steve Cohen’s Point 72 is up about 4% at the end of June” – Wealth Training Company
Steve Cohen is back in the game with more than the average assets under management (AUM) for hedge funds
A typical hedge fund has an AUM somewhere between 50 and 400 million for a single fully vested strategy.
At the other end of the spectrum is Bridgewater Associates, the world’s largest hedge fund with an AUM of $138 billion, as of April 2020.
Steve Cohen is back in the game of making profits and based on the new billions of dollars he will soon raise profitability is all that counts in a money world
Indeed, last year Steve Cohen was among the few winners in 2019 with his flagship fund, Point 72 Asset Management raked in13 percent returns as of the end of November, last year.
Moreover, Steve Cohen is back in the game achieving alpha returns.
Steve Cohen’s Point 72 is up about 4% at the end of June, a better performance than the S&P index, which is down about 4% over the same period.
