Point 72 Asset Management, the personal investing shop of the former hedge fund manager, Steve Cohen has made a cool profit to the tune of $1.8 billion so far this year.
The exact amount is not clear but it certainly is much more than the average hedge fund. Point 72 looks after $9 billion to $10 billion and a vast majority of this is for Cohen. As measured by the Absolute Return U.S. Equity Index, the average stock-focused hedge fund, gained 2.58 percent net of fees through September.
The family office of Point 72 employs around 860 employees, down from 1,050 when SAC plead guilty to criminal insider trading charges. Another 460 staffers are based at Point72’s Stamford, Connecticut, headquarters; and the rest are based in New York City. The New York Times first broke the news of the profit though Point 72 has maintained a stoic silence and refused to comment.cialis prices at walmart