Point72
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Capital Allocators 6 
the MAD Podcast 
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Capital Allocators 6
2020 6 mentions in 1 episode
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14 statements about Point72, every show
Friedberg: Gabe Plotkin borrowed $2.75B from Citadel and Point72 during GameStop rally
“He had to borrow 2.75 billion dollars from Citadel and .7 just to get through his month.”
Steve Cohen attributes Point72's longevity to completely rebuilding it three times
“I still remember the very first time I met him, my first question to him was, I said, you have built a more enduring hedge fund than almost anyone else, right? I mean, there's five or six people like that. Why do you think that is? And he said, because I burne…”
Hedge funds must constantly reinvent operations as profitable strategies decay quickly
“What is today is not what's going to be profitable tomorrow. And you have to constantly be changing the business.”
Granade: Point72 Employs Web Scraping, Physical Collection, and Data Science
“We do stuff on supply chain. We do physical collection. We do data science. We do web scraping. We do a very wide variety of stuff.”
Granade: Alternative data edge comes from team collaboration, not raw data sources
“And I actually tend to think it has very little to do with the data sources itself or the information. It's the competitive advantage you're looking for is the ability to integrate across your investors with your data scientist, with the people who are sourcin…”
Point72 uses credit card, email receipt, and app download data for research
“And so, by the way, to answer something like that, we use credit card, we use email receipt, we use app downloads. We're using a lot of different things to then sort of bring them back a really good answer.”
Discretionary and systematic investing have historically been kept too far apart
“The world of discretionary investing and the world of systematic investing has been kept too far apart. At some point, discretionary investing has obviously gone on for a very long time. Quantum investing rose up, but it sort of took its own path, but that eac…”
Humans excel at scarce data and intuition, computers at scale and repetition
“When our thesis is that humans are particularly good at the creativity required for idea generation, good at working off of thin data or very scarce data, good at defining and refining goals, knowing what questions to ask, seeing the big picture and how things…”
Point72 has new PMs spend six to nine months non-trading before running capital
“We have a program called the nines program where people join to become PMs and they have some period of time, six to nine months where They're not trading money. They're building their process. And we invest a lot during that time. They're always experienced i…”
Sub-scale hedge funds cannot compete with large platforms on alternative data
“I think in some sectors, it's almost impossible to trade the sector without a lot of the data inputs. It ties a little bit to one of the trends you see in the industry overall, which is, I think the strength of the platforms and the power of the platforms. And…”
Granade: Point72 Acquired an MSSP to Expand Margins via Software Automation
“We got a technology team together that built automation software for some of those first level tasks. And then we bought an MSSP for the data and the customers. We're basically expanding their margins as a result of that effort.”
Granade: Point72 Center Book Is Run by Team of Around 50 People
“I mean, I have oversight of it, but I mean, there's a whole team of 50 people or something like that, that do do it eight or nine days a week.”
Granade: More firms will invest across both public and private markets
“I think you'll see more firms investing across the capital structure. So doing public markets and pre IPO and venture”