Wednesday, May 11, 2022

When the boss buys a new toy...

Via hilarious Bloomberg writer Matt Levine, this funny story from the Wall Street Journal about a hedge funder purchasing the New York Mets and putting his people to work:  

Some senior employees from Cohen’s firm, Point72 Asset Management, have been moonlighting as Mets employees in crucial roles, according to staffers’ LinkedIn pages, the Mets’ website and people familiar with the matter. Many are tasked with improving the team’s once-outdated infrastructure, data-analytics capabilities and technological prowess. …

Since Cohen took over, the number of people working in data and analytics has grown from eight full-time employees to 35, some of them from Point72, a person familiar with the matter said. Cohen has embedded data scientists in the Mets’ scouting departments. A new data-engineering group is also stocked with people from Point72.

I gotta say, that's better than the PI making you pick up his dry cleaning! I also thought this was a funny detail (also pointed out by Levine): 

Cohen’s chief-of-staff, Michael Sullivan, said Cohen hasn’t missed a day of trading since he bought the Mets and continues to work seven days a week.

“Some members of his senior leadership team that were hoping he’d be distracted by the Mets on weekends have been horribly disappointed,” Sullivan said.

I'm guessing that buying the Mets would not make the boss more mellow, but you'd think that it would distract him. I feel like I've seen a number of bosses mellow because of life and age - guessing they'd get pretty busy if they bought a MLB team... 

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looks like Blogger doesn't work with anonymous comments from Chrome browsers at the moment - works in Microsoft Edge, or from Chrome with a Blogger account - sorry! CJ 3/21/20