{"id":452883,"date":"2022-05-25T23:00:24","date_gmt":"2022-05-25T20:00:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/how-mets-owner-steve-cohen-plays-defense-during-market-slump\/"},"modified":"2022-05-25T23:00:24","modified_gmt":"2022-05-25T20:00:24","slug":"how-mets-owner-steve-cohen-plays-defense-during-market-slump","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/how-mets-owner-steve-cohen-plays-defense-during-market-slump\/","title":{"rendered":"#How Mets owner Steve Cohen &#8216;plays defense&#8217; during market slump"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3df9cc38979\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3df9cc38979\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/how-mets-owner-steve-cohen-plays-defense-during-market-slump\/#%E2%80%9CHow_Mets_owner_Steve_Cohen_%E2%80%98plays_defense_during_market_slump%E2%80%9D\" >&#8220;How Mets owner Steve Cohen &#8216;plays defense&#8217; during market slump&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CHow_Mets_owner_Steve_Cohen_%E2%80%98plays_defense_during_market_slump%E2%80%9D\"><\/span>&#8220;How Mets owner Steve Cohen &#8216;plays defense&#8217; during market slump&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Mets owner Steve Cohen has adopted a defensive stock-picking strategy that\u2019s plowing into safe havens including oil and casino properties as he looks to hedge against the slumping market, according to a report.<\/p>\n<p>The 65-year-old hedge-fund magnate, who has an estimated net worth of $11.9 billion, has recently been focusing on so-called high-yield stocks, which are equities whose dividend yield is higher than the yield of any benchmark average, such as the US Treasury\u2019s 10-year note. <\/p>\n<p>Such stocks tend to outperform low-yield and no-yield securities during bear markets because investors consider them to be less risky. <\/p>\n<p>On the face of it, it looks like a departure for Cohen, who as the head of the Point72 Asset Management has earned a reputation for making big, risky bets on volatile stocks.<\/p>\n<p>During the first quarter of this year, Cohen\u2019s fund bought up 633,800 shares of VICI Properties, a New York-based real estate investment trust, or REIT, that specializes in casinos, hotels, and racetracks, according to securities filings.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/cohen-mets-01.jpg?w=1024\" alt=\"Cohen is the owner of the Point72 Asset Management hedge fund.\" class=\"wp-image-22410433\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/cohen-mets-01.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/cohen-mets-01.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/cohen-mets-01.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Cohen is the owner of the Point72 Asset Management hedge fund.<\/figcaption><figcaption><span class=\"credit\">Sipa USA via AP<\/span><\/figcaption><\/figure>\n<p>VICI was created in 2017 as part of a spin-off from Caesars Entertainment after that company went into an $18 billion bankruptcy. VICI owns 10 resorts on the Las Vegas S<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> encompassing 1.2 million square feet of casino space, more than 40,000 hotel rooms, and 6 million square feet of convention space.<\/p>\n<p>In total, VICI\u2019s portfolio includes 43 casinos; 450 restaurants, bars, and clubs; and four major golf courses. In April, VICI announced that it completed a $17.2 billion acquisition of MGM Growth Properties.<\/p>\n<p>Shares of VICI Properties rose by nearly 2% as of 3 p.m. on Thursday. At almost $30 a share, Cohen\u2019s stake in VICI amounts to some $18 million, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tipranks.com\/news\/article\/billionaire-steven-cohen-bets-big-on-these-3-high-yield-dividend-stocks\/\">according to the finance site TipRanks<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/nyse-01.jpg?w=1024\" alt=\"Cohen has upped his investments in high-yield dividend stocks.\" class=\"wp-image-22410429\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/nyse-01.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/nyse-01.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/nyse-01.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Cohen has upped his investments in high-yield dividend stocks.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Cohen is also betting on BP, the world\u2019s largest oil and gas producer whose market capitalization has been valued at $104 billion.<\/p>\n<p>The Mets boss bought an additional 3,276,969 shares of BP. Cohen had already bought half a million shares of the company before his latest investment \u2014 bringing the value of his stake in the company to some $122 million.<\/p>\n<p>Shares of BP rose around 1% on Wednesday. BP stock was trading at around $32.40 per share as of 3 p.m. on Wednesday.<\/p>\n<p>Like most energy companies, BP posted impressive profits despite divesting from a 20% stake in the Russian firm Rosneft in the wake of President Vladimir Putin\u2019s invasion of Ukraine.<\/p>\n<p>In the first quarter of this year, BP reported a net profit of more than $6 billion \u2014 easily beating analyst estimates of $4.1 billion.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/25\/how-mets-owner-steve-cohen-plays-defense-during-market-slump\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;How Mets owner Steve Cohen &#8216;plays defense&#8217; during market slump&#8221; Mets owner Steve Cohen has adopted a defensive stock-picking strategy that\u2019s plowing into safe havens including oil and casino properties as he looks to hedge against the slumping market, according to a report. The 65-year-old hedge-fund magnate, who has an estimated net worth of $11.9&#8230;<\/p>\n","protected":false},"author":1,"featured_media":452884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Cohen-Invests.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129614,37192,71541,72388,70360],"class_list":["post-452883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-25-22","tag-new-york-mets","tag-steve-cohen","tag-stock-market","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/452883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=452883"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/452883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/452884"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=452883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=452883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=452883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}