Welcome to the Investors Trading Academy event of the week. Each week our staff of educatorstries to introduce you to a person of interest in the financial world.
This could be a person in government or banking or an important investors or trader. Steve Cohen is a very popular name in the US but the one that makes the financial newsregularly is Steve Cohen, founded of SAC Capital Hedge Fund. One of the most successful hedge 15 Storage solution and DIY organization ideas #1 fund managers ever, Steve Cohen may have shut down his SAC Capital hedge fund firm afterit pleaded guilty to insider-trading charges, but he continues to successfully trade hisown money. Cohen returned his outside investors’ money and now manages his own fortune in a family office called Point72 Asset Management. The son of a dress manufacturer who worked in Manhattan’s garment district, Cohen didtake a hit from the sprawling government insider-trading investigation that targeted his firm, whichpaid $1.8 billion to the federal government to cover SAC’s penalties. He was never criminally charged, but several former SAC employees were convicted.
How to Decorate a Foyer An avid poker player, Cohen started trading with $7,000 that was supposed to be part ofhis tuition payment at the Wharton School;ultimately developing his own rapid-fire styleof trading that won him praise at Gruntal, his first step into Wall Street. By 1992, he founded SAC with $20 million of his own money. The hedge fund did so wellthat it was able to charge some of the industry’s richest fees. Cohen is looking to clean uphis image, rebranding his family office, launching a new, glossy website, and making big namehires to increase surveillance and compliance.