Point72’s Steve Cohen:
- We’re not in a recession yet
- I think we’re going to have significant slowing growth
- We think it’ll probably be a 45% chance of recession
- Will be slowdown, Fed will be slow to respond
- Stocks could retest their April lows
Cohen emphasized the volatility of the economic environment, saying his answers might have been different a week ago.
Steve Cohen is an American billionaire hedge fund manager and philanthropist, best known as the founder and CEO of Point72 Asset Management, a global multi-strategy investment firm.
He began his career at Gruntal & Co. before launching S.A.C. Capital Advisors in 1992, which became one of the most successful hedge funds of its time. Following a high-profile insider trading case that led to a $1.8 billion settlement and a two-year ban from managing outside capital, Cohen rebranded his firm as Point72 in 2014. The firm reopened to external investors in 2018 and now manages over $35 billion in assets.
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The Sohn Investment Conference is an annual event held in New York city that brings together leading hedge fund managers and investors to share their market insights and investment ideas
- established in 1995
- it raises funds for pediatric cancer research through the Sohn Conference Foundation
This article was written by Eamonn Sheridan at www.forexlive.com.
