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November 28, 2022

In Other Name Change News, We Will Not Speak of SAC Capital Again

Well, I guess Point72 could be worse. Like New SAC Capital or Point72&.

They’ve changed the sign. They’ve changed the email address. And presumably they will soon be giving out new fleece jackets at Point72 Asset Management, the new family office that will trade billions of dollars of Steven A. Cohen’s money and is the legal successor to his once-mighty SAC Capital Advisors hedge fund.

The retirement of the SAC name happened quietly over the weekend, and it does not appear that Mr. Cohen is planning any big celebration at his firm’s headquarters in Stamford, Conn., to celebrate the occasion. The firm’s old website is no longer accessible. The new site, which went live Monday afternoon, is fairly minimalistic, with a photo of the firm’s headquarters and some text describing the firm’s new structure.

Actually it could have been a lot worse considering the name references the street on which the Firm Formerly Known as SAC Capital resides, 72 Cummings Point Road. 72Cummings doesn't really sound like the kind of trustworthy asset management firm you'd want handling your money. Then again, given it was still officially SAC Capital not all that long ago, 72Cummings might have been the least of their problems.

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