Steve Cohen: Market May Pause For Summer

Legendary hedge fund manager Steve Cohen expects that the markets will "pause" this summer. Speaking to the audience at Skybridge Alternative Investment Conference Tuesday afternoon, Cohen said that the run up in the S&P 500, which has gone from around 1000 to around 1500 since last just, is probably coming to an end.  "We’ve had a good run and I think we’ll see a little pause," he said.

Cohen, who founded hedge fund giant SAC Capital, rarely speaks publicly and was one of the most hotly anticipated names on the roster of speakers at the conference.  He made some macro-economic predictions as well. The second half of 2011 could see more robust growth than the first half, he said. "We could see 4 percent growth in the second half," he said.

But that growth won't last, according to Cohen.  "I’m more worried about 2012 as some of the stimuluses wear off," he said. "But we’ll worried about it when we get there."

CNBC

Steve Cohen On The Current Stock Market

As for the current market he described it as “grinding every day.” But “underneath stocks are exploding, and everything I’m seeing today looks bullish,” he said. “I’m not going to get negative just for the sake of being negative.” He added that it was a strong January and while there’s the potential for dislocation over summer when QE2 ends but that this is shaping up to be “a typically classic year” for the market.

Dealbook

Steve Cohen: Always Be Charting

"Any time I get into a position I’ll look at the chart first. I always default to the chart. It is critical for entry points.”

Steve Cohen

Steve Cohen: 3 Mistakes That Can Kill You

“Leverage, concentration and illiquidity are the three things that can kill you.”

Steve Cohen

Steve Cohen: Watch Your Losers

“I spend most the day watching my losers because if those are being managed correctly the winners take care of themselves."

Steve Cohen

Steve Cohen: My Top 3 Stock Picks

Williams Companies (WMB)

Plains Exploration (PXP)

Green Mountain Coffee Roasters (GMCR)

Steve Cohen

Steven Cohen: Technical Analysis Works

"The old guard wasn’t crazy about me, I used to hear it all the time. Most of the old-school had no belief in anything that wasn’t based on fundamental analysis. We were trading more than investing, and people frowned on it, they looked at it and didn’t want to partake. Finally, they said,‘Shoot. He’s making money.’ And they started copying me."

Steven Cohen