Steve Cohen: “The Commodity Selloff Provides An Interesting Entry Point For Energy Stocks”

dan tapiero SAC capital
Cohen’s macro-man, Dan Tapiero on the left.

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Steve Cohen is a macro-man at the moment — much more than he used to be — he said at the SALT Conference last night.”I always understood macro but now I’m heavily involved in those markets,” he said

He also likes energy.

“The commodity selloff provides an interesting entry point for energy stocks.”

“I think that energy stocks are discounting oil prices much lower than where we are trading today.”

The man helping to understand it more — Dan Tapiero, who has previously worked with Stan Druckenmiller, Julian Robertson and Michael Steinhardt.

Tapiero manages the global macro portfolio together with Cohen and is a specialist in that strategy.

(Out of SAC’s massive $13 billion in total AUM, energy holdings account for about $1.8 billion, according to SAC filings.)

He lives in Greenwich with his wife Amanda, who he met at college, and their three kids.

Speaking of kids, when Tapiero was one, he was “consistently on the Dean’s List” at Lawrenceville, a high school in Princeton. He was also a star on the swimming, water polo and track teams, and when he wasn’t sweating on the sports field, he was writing about it as sports editor of the school rag, The Lawrence.

But the best part of his high school bio is definitely this: he was a member of the Wall Street Club! ( He was also in the political club and on the maths team).

Tapiero earned his BA and MA from Brown, before he joined Tiger Management. He also had stints with Duquesne Capital and Argonaut Capital before hooking up with Stevie. (He also founded his own firm, DTAP Capital Partners, and is a co-founder of AGCOA, a private US farmland reit).

As for Tapiero’s boss, he said energy was “an interesting sector” and in light of last weeks huge selloff and oil’s crash to below $100, it was a great time to buy up shares in energy companies.