Steve Cohen on How to Build Your Investing Career
This is a curated Q&A breakdown from the Point72 podcast
If you’re exploring a career in hedge funds — whether you’re just starting out or already working in the industry — it helps to hear directly from people who’ve built lasting firms. I recently listened to a conversation with Steve Cohen on the Point72 podcast. What stood out wasn’t just how he thinks about investing, but how he approaches culture, leadership, and developing talent.
Below are the core questions from the interview and the key takeaways from his answers.
I’ve distilled the conversation into the core questions and key takeaways below.
1. What pushed you forward along the journey and what are some of the big decisions that you made along the way?
He’s always been forward-thinking, never satisfied with success or resting on laurels.
Even after great years, he pushed for change to sustain success.
His mindset is: “You reach the top of the mountain and there’s nothing there — so you have to climb another one.”
Growth requires setting new goals, adapting to technological changes, and deploying them smartly across the firm.
This constant evolution has been key to reaching $36B AUM.
2. What principles have underlied this growth, the business, and your career?
Entrepreneurial spirit and a strong belief in culture drive him.
He believes in mutual responsibility between him and his team.
Point72 is a performance culture, and he refuses to settle for mediocrity.
He builds the business around who he is — and many firms reflect the character of their founder.
3. What gives investment professionals the ability to have durability and tenure in this game?
Passion is fundamental.
If you don’t love what you do, it’ll show.
He compares great investors to elite athletes — constantly improving even during downtime.
Great professionals are obsessed, curious, and always learning.
4. When it comes to that next level and greatness, what does it take and how do some people miss out on it?
Greatness is rare and doesn't happen by accident.
It requires discipline, constant improvement, vulnerability, and a desire to grow.
You have to be open to new ideas and learn from others who've gone before you.
He’d be like a kid in a candy store at Point72, absorbing knowledge from everyone around him.
It’s about becoming the best version of yourself over time.
5. How does that thinking influence the way you run the firm and your approach to development?
Point72 is deeply committed to developing talent through programs like the Academy and LaunchPoint.
The firm fosters a culture of continuous learning.
His goal is to help people achieve their personal career goals by exposing them to great investors and experiences.
You don’t need to reinvent the wheel — you just need to learn from others and build on their wisdom.
6. How should candidates or PMs think about Point72 when evaluating career opportunities?
There’s no one-size-fits-all approach to investing.
Some are long/short, others macro, growth vs. value, international vs. U.S.
What matters is knowing what motivates you and how you want to invest.
Point72’s strength is in diversity of thought — people bring different styles, which enhances the firm’s intellectual capital.
It’s a place where you can learn from others and bring your own edge.
7. What intangibles do you look for when meeting a potential investment professional?
Passion and commerciality — not just being “right,” but wanting to make money.
Flexibility of thought is key.
Since most PMs are right only ~54% of the time, what matters is how they handle being wrong.
He looks for resilience, creativity, strong self-awareness, and fit within the firm.
He wants to know what drives the person and if they’re someone he could work with for the next 5–10 years.
8. How do analysts develop a feel for good ideas and the market?
It’s about pattern recognition and knowing your personal edge.
He uses the analogy of a baseball pitcher — know your best pitches and use them more.
Focus on what you do well and act with conviction.
Don’t chase others’ strategies — develop a strong foundation of your own process and strengths.
Steve’s reflections are a reminder that the path to becoming a great investor is less about formulas and more about mindset: discipline, self-awareness, and a genuine love for the craft. If you’re building a career in this industry, lean into the process. Learn from those around you. Stay curious. And most importantly — know yourself.
You can listen to the full interview here.
If this resonated with you, feel free to share or reach out. I’ll continue writing more reflections like this — especially for those early in their journey who want to build something meaningful.
