SAC CAPITAL DOWN IN APRIL, UP 10% YTD

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.

Cullen Roche

Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.

He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.