Steve Cohen

Biography

Steven A. Cohen (born June 11, 1956) is an American hedge fund manager and majority owner of the New York Mets of Major League Baseball. He is the founder of hedge fund Point72 Asset Management and now-closed S.A.C. Capital Advisors, both based in Stamford, Connecticut. He owns one of the world’s most valuable private art collections, worth over $1 billion, which includes notable artworks such as Koons’s Rabbit, Picasso’s Le Rêve, and Hirst’s The Physical Impossibility of Death in the Mind of Someone Living.

In 2013, the Cohen-founded S.A.C. Capital Advisors pleaded guilty to insider trading and agreed to pay $1.8 billion in fines ($900 million in forfeiture and $900 million in fines) in one of the biggest criminal cases against a hedge fund. Cohen was prohibited from managing outside money for two years as part of the settlement reached in the civil case over his accountability for the scandal. The hedge fund agreed to plead guilty to wire fraud and four counts of securities fraud and to close to outside investors.

Time Magazine ranked him 94th on its annual Time 100 list of most influential people in 2007. As of February 2020, he has an estimated net worth of US$14.1 billion.

Investment principles

  • Have Passion for Investing Steven Cohen once said that he had a passion for stocks since childhood. He didn’t invest in stocks just for the money, but also because he loved what he did. He says it is important to keep oneself excited about trading in the stock market and Investing in funds. Passion can help one make decisions well when it comes to success in the stock market.
  • Be Calm Steven Cohen believes psychology plays a big role when it comes to investing. He had even hired a psychiatrist to help him get through panic regarding trading risks. The market is always changing because of the investors and their emotions regarding circumstances. It is hard to keep calm during such tiring times. With panic all around, anyone can slip into making the wrong decision and face huge financial loss. He once said that one cannot control what the stock market does but one can control reaction to the market. It is important to keep your attitude and reaction in check and maintain calm before taking major investing decisions.
  • Keep Focus One of the biggest mistakes to commit when investing in stocks and funds is to lose focus. Losing focus can lead to losses that can wreck your entire investment career. Steven Cohen once said that instead of knowing little about everything, know everything about something. If you are planning to invest, don’t go around digging at everything you find. Do your research and find one stock and know all about it. Decide whether this is what you would like to be the centre of your focus. You should put your entire focus to investing if you want success in that area. It is important to be convinced of your ideas regarding your choice of investments. Therefore, keep the focus on research and understanding the investment and the market.
  • Develop Knack for Research and Thinking Steven Cohen encourages investors to make informed decisions with investments. It is important to not follow other trading styles. Everyone should do their own research and come up with their own way of trading. He says his firm encourages clients to identify their strengths and weaknesses. They are encouraged to identify what they like investing in. Look at market bets that get your blood pumping because you know about it too well. It is important to learn from mistakes and make well-judged decisions.
  • Conclusion Steven Cohen has been one of the pioneers when it comes to investing and earning profits. One thing to take back from his style of investing would be to develop a passion for investments. Maintain calm and invest with an open mind. Do your research well before investing and learn from any mistake made. Maintain focus without wavering and don’t let market panic get to you. Making hasty and uninformed decisions can ruin your investments.

Results

Billionaire Steve Cohen, who runs hedge fund SAC Capital Advisors, is known on Wall Street for being one of the most successful and long-standing traders in the market.

He started his hedge fund in Stamford in 1992 with just $ 25 million. Today the fund has billions of dollars in assets under management and employs around 900 people around the world. In the late 1990s and early 2000s, Cohen stood out as a powerful Wall Street trader for his high-end returns.

Articles

Mets owner Steve Cohen shuts down Twitter account over death threats

Mets owner Steve Cohen shuts down Twitter account over death threats

JTFebruary 15, 20212 min read

Billionaire investor Steve Cohen , owner of the Mets baseball team , viewed by small investors as an enemy in GameStop’s stock drama this week, deleted his Twitter account due to alleged death threats against him and his family, he said. a spokeswoman.…