SAC Capital’s flagship fund was down 0.8% in April, but is still up 10% YTD. FIN Alternatives said:
SAC Capital’s flagship fund hit a speed bump in April, falling 0.8%, but the fund is still up a strong 9.9% this year, according to figures obtained by Wall Street tabloid Dealbreaker.
Last year the fund, SAC Capital International, took it on the chin, falling 18.7% through mid-December. The firm’s multi-strategy fund faired a bit better, dropping 12.8% during the same period.
Steven Cohen’s SAC Capital now has $14 billion in assets under management, according to the firm’s Web site. Forbes magazine recently ranked Cohen as one of the top 100 richest men in the United States, with a personal fortune of $5.5 billion.
Hedge funds haven’t bought into the rally yet. If and when that occurs we could see the market get wildly exuberant.