Hedge Funds Performance

Wait until first quarter, says SAC's Steve Cohen

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SAC Capital Advisors founder Steve Cohen told investors early last month that he doesn't expect the markets to rebound until the first quarter of 2009. But that hasn't stopped him from going on a hiring binge, adding 25 portfolio managers this year and leading to some worries that his infrastructure might be getting too big to support the type of market opportunities available these days.


Steve Cohen


With $16 billion under management, SAC was up 1.66% through August in its main fund and up 0.80% in its multistrategy fund, but sources close to the firm said