Generating Alpha Podcast Episode 6: Steve Cohen - Founder and CEO of Point72 Asset Management
Jan 18, 2025
Steve Cohen, Founder and CEO of Point72 Asset Management and owner of the New York Mets, shares his fascinating journey from childhood in Great Neck to the world of finance. He discusses how poker sharpened his risk-taking skills and his early influence from the stock market. Cohen elaborates on his multi-strategy investment approach, the importance of passion in work, and parallels between managing a hedge fund and a sports team. His thoughts on art collecting reveal unexpected insights, emphasizing its educational value and connection to history.
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Childhood Shaped His Risk Appetite
- Steve Cohen grew up in Great Neck as one of eight children in a chaotic household.
- He says that childhood chaos helped him handle market chaos later in life.
Poker Taught Early Risk Management
- Steve played poker every day in high school and even late the morning of his SATs.
- He learned probability, risk-taking, and money management from those games.
Bootstrapped Market Education
- While at Wharton, Steve often skipped class to stand outside a local brokerage and watch the tape.
- Brokers eventually invited him in and he learned more there than in school.