SAC Capital: What course now?


By Sarah Wood

Imagine a $16 billion dollar hedge fund that over a few months announces the departures of its president, its chief financial officer and one of its most important investment professionals. Still, the firm says things are business as usual and its bench of managerial and investment talent is deep.

Welcome to the world of SAC Capital Advisors, where the door is continuously revolving. The only constants are founder and short-term trading star Steve Cohen and his firm's exceptional returns.

But the departures of Brian Cohn, Jim Rowen and Matt Grossman are significant: They are high level,