Point72's Haynes Says 'Cost of Being Excellent' Keeps Going Up
- Family office's president interviewed on `Wall Street Week'
- More hedge fund closures and redemptions may come, he says
Point72 Asset Management manages the fortune of billionaire Steven A. Cohen.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Doug Haynes, president of Point72 Asset Management, the firm that manages the fortune of billionaire Steven A. Cohen, said there could be more closures and money pulled out of the hedge fund business.
“The cost of being excellent in the industry keeps going up,” Haynes said in an interview clip on the television program “Wall Street Week,” which airs on Sunday.