SAC Capital founder Steve Cohen says he is thinking about stepping away from investing in the next year.
In an interview with journalist Bryan Burrough in Vanity Fair, "Stevie" Cohen as he's known on Wall Street, said he is setting things up so that he doesn't have to play an active role managing investments at his $12 billion Stamford, Conn., hedge-fund firm.
Why? Could be insider trading rumors, the lower-back pain that has him gulping Aleve, or a midlife crisis.
"...I've got nothing left to prove. I've been doing this for 33 years, I've been to the top of the mountain, and there's not much there. My dream is to liberate myself," he told Burrough. "So is that a midlife crisis? Or is just being f--king smart? I don't know. But it's exciting."
Cohen oversees less than 15% of SAC's capital. The rest is managed by 100 portfolio managers at the firm.