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Squawk Pod

Point72’s Steve Cohen: Owning the Mets & Betting on AI 04/03/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2543 Ratings

🗓️ 3 April 2024

⏱️ 30 minutes

🧾️ Download transcript

Summary

Billionaire hedge funder and Point72 CEO and Chairman Steve Cohen discusses his $2.4B purchase of the New York Mets, his investment in golf via the PGA and Tomorrow Golf League, and his bet on sports business. Cohen shares his view on AI equities and on the Federal Reserve’s goal of a 2% inflation rate. Plus, an update on the boardroom drama at Disney. Steven Cohen - 10:52 In this episode: Steven Cohen, @StevenACohen2 Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer: @Kramer_Katie

Transcript

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0:00.0

Bring in show music please.

0:03.0

Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.

0:09.0

Steve Cohen, the billionaire hedge funder and New York Mets owner in his first

0:14.0

see-N-BC interview, part of his higher profile. I realized I enjoyed it. I had no idea.

0:18.6

Cohen's two and a half billion dollar baseball purchase... You don't think about this as philanthropic? Do you? I do. You do. That's why I bought the team. I actually do it as a civic responsibility.

0:29.0

And his other investments like golf and betting on AI's tailwinds.

0:34.0

I don't see it as a bubble.

0:35.1

I think the markets are discounting some of what they think AI is going to do for companies.

0:40.8

Plus Steve Cohen on his long rocky road to being liked on Wall Street.

0:46.4

I'm the same guy.

0:47.4

It just shows you that the world keeps turning, enjoy your life, and you know, it's amazing

0:51.3

what can happen. That big interview today and an update on Disney's boardroom battle.

0:57.0

This has been an unusual proxy battle in many many ways. It is Wednesday April April 3rd, 2024, Squack Pot begins right now.

1:07.0

Stand by Joe, and three, two, one, his mic.

1:11.0

Here.

1:12.0

Good morning and welcome to Squawk Box here on CNBC live from the NASDAQ market site in Times Square.

1:17.8

I'm Joe Kernan.

1:19.2

Becky is, Andrew, I think she's on a boat actually coming through the there's so much rain back here. I'm not sure it's necessarily an arc

1:27.4

But she's no she's here. She'll be out, but it's been raining for 40 days and 40 nights basically it's not not over yet

1:35.4

you're in South Carolina I they have great weather most of the time what do you

1:41.5

have coming up and how's the weather?

1:43.0

So far, so good on the weather, you know, the last time we have been here in Kiowa Island,

...

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