2007-08-30 16:13:30
Want to Buy a Piece of Steven Cohen's SAC Capital? Here's Your Chance
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When you talk about successful traders, and I mean, really successful traders, Steven Cohen is one of the first traders that should pop in your mind. Cohen is a spectacularly successful trader, having built up a net worth for himself of about $3 billion dollars through his company, SAC Capital. Also consider the fact that Cohen usually earns close to a billion dollars, year after year. Last year it is reported that he earned almost $900 million dollars.
Well according to various published reports, SAC Capital is talking to a few potential investors about taking minority stakes in the $14 billion dollar company. Considering the amount of money that the fund is currently worth, and considering what it brings in on a yearly basis, these stakes would not be cheap. But given their track record, a stake in the company would still likely be a fantastic investment, considering the fact that the company generates billions per year.
Cohen is the trader that I used as my inspiration for coming up with strategies that I still use today. He is one of the most aggressive short-term traders in the world. He dominates the market like no other, and employs some of the best and smartest traders in the world.
Cohen's funds charge a 2% management fee (regardless of performance) and a whopping 50% performance fee (so, SAC Capital receives 50% of all profits generated.) Most hedge funds charge 2 and 20, but you can't argue considering SAC Capital's stellar results.
Last year, the fund generated a near $2 billion dollar revenue pool. SAC Capital accounted for almost 6% of the TOTAL daily volume on the New York Stock Exchange. Both impressive numbers.
If you have a few billion dollars lying around, you too can buy into Steven Cohen's SAC Capital.
Filed under: Hedge Fund News | General Knowledge
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