FINalternatives is the premier, independent source for news on the alternative investment industry. The seasoned reporters at FINalternatives bring readers the latest news and information from the hedge fund, private equity and CTA communities—bringing clarity to this opaque corner of the investment universe. Visit http://www.finalternatives.com
Starting as a summer intern in 1978, Kirk worked for 20 as a scientist and engineer at Hewlett Packard's research and development department (R&D) designing solid state devices and components for optical communication. While he was at HP, Kirk invested ten to twenty percent per year of his salary. He made some mistakes early on (starting with paying high fees for "expert" advice that under performed) but soon he learned to invest his own money well enough to afford a life of "semi-retirement" to work for himself. In a way, since leaving HP in 1998, Kirk became his own "angel investor" using his his own money and investing success to finance his lifestyle in Los Altos, California to invest in a new career on the internet helping others do the same. More at http://kirklindstrom.com/About.html
Warren Mosler is currently the Present of Valance Co, Inc. located in St. Croix in the US Virgin Islands, where he resides.
In 1982, Mosler was a founder of Illinois Income Investors that evolved into the III investment companies. Over the years, he pioneered numerous investment strategies that utilized US Government securities, mortgage backed securities, LIBOR swaps and LIBOR caps, and financial futures markets in market neutral, 0 duration strategies. In 1986, he originated the 'mortgage swap' and in 1996 orchestrated the largest futures delivery to date (over $20 billion notional) in Japan. He also created a swap futures contract currently operational (in a muted form) by a major exchange. III was rated number one by MAR in risk adjusted returns for the previous 10 years in 1997 when he turned control over to his partners.
Mosler is also Chairman and majority shareholder of Consulier Engineering (CSLR), President and founder of Mosler Automotive (http://www.moslerauto.com), which manufactures the MT900 sports car in Riviera Beach, Florida; Co-Founder and Distinguished Research Associate of The Center for Full Employment And Price Stability at the University of Missouri in Kansas City; Senior Associate Fellow, Cambridge Center for Economic and Public Policy, Downing College, Cambridge, UK; and Associate Fellow, University of Newcastle, Australia.
Mr. Roche is the founder of Orcam Financial Group, LLC, a low fee financial services firm based in San Diego, CA as well as the founder of the popular financial website Pragmatic Capitalism (some articles from Pragmatic Capitalism get syndicated on Seeking Alpha so please see the full site if you don't want to miss articles by Mr. Roche).
Orcam Financial Group, LLC (www.orcamgroup.com) is a low fee financial services firm offering asset management, personal advisory, consulting and educational services. Pragmatic Capitalism (http://pragcap.com) was founded by Cullen Roche in the midst of the financial crisis of 2008. Mr. Roche foresaw many of the events that led up to the crisis and felt that the government was slow to react and when it did finally react, responded with the wrong medicine.
Mr. Roche's primary areas of expertise include global macro portfolio construction, quantitative risk management, monetary economics and behavioral finance. Prior to establishing his own business, Mr. Roche worked at Merrill Lynch Global Wealth Management where he worked on a team overseeing $500MM+ in assets under management. Upon leaving Merrill Lynch, Mr. Roche managed a private investment partnership for 7 years generating substantial positive alpha (high risk adjusted returns) without a single negative year of returns. He has since transitioned back to retail asset management to better serve the much needed low fee retail space with sophisticated but simple asset management and financial planning services.
Mr. Roche is also a prolific writer. In addition to the daily musings on his website, he is the author of the popular book “Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance” as well as “Understanding the Modern Monetary System”, one of the top 10 all-time most downloaded research papers on the SSRN academic research network. He was named one of the “Top Wall Street Economists, Experts and Opinion Leaders” of 2011 by Wall Street Economists and was named one of the “101 Best Finance People” by Business Insider where he was described as “one of the most influential economic thinkers today.” In 2015 Mr. Roche was named one of the “40 Under 40” most influential people in finance by InvestmentNews. He is regularly cited in the Wall Street Journal, on CNBC and in the Financial Times.
Mr. Roche is a Georgetown University alumnus, growing up in the DC area and now living in Southern California with his wife Erica, troublesome collie Cal and 4 irritable laying hens. In addition to being a financial dork Cullen is an avid outdoorsman, mediocre gardener, proficient complex carbohydrate consumer (i.e., loves brownies and cake) and finisher of one of the most difficult IRONMAN races at Cabo in 2015.
Andrew Horowitz is a Certified Financial Planner. He is the President and Founder of Horowitz & Company (http://www.horowitzandcompany.com), a Registered Investment Advisor. Mr. Horowitz has been managing money and writing about investments since the late 1980's. He has taken his principles of financial and investment management to create targeted investment disciplines. His proprietary models provide a comprehensive methodology for establishing specific investment ideas. The combination of high technology with hands-on expertise helps his clients create the kind of plan needed in today's complex financial world. He has written a book also titled The Disciplined Investor which is scheduled to be released in bookstores throughout North America in May of 2007. Blog author, Podcast Host, Writer and Investment Advisor are the hats he wears daily.
Visit his site: The Disciplined Investor (http://www.thedisciplinedinvestor.com/blog/)
Listen to TDI's podcasts (http://www.thedisciplinedinvestor.com/blog/category/podcasts/)
John Thomas graduated with a bachelor’s degree in biochemistry with honors and a minor in mathematics from the University of California at Los Angeles (UCLA) in 1974. He moved to Tokyo, Japan where he was employed by a medium-sized Japanese securities house. Thomas became fluent in Japanese and was trained as a domestic Japanese research analyst and money manager. In 1977 Thomas became the Tokyo correspondent for The Economist magazine and the Financial Times of London. Thomas traveled extensively throughout Asia, interviewing premiers, presidents and prime ministers, writing on macroeconomic trends, and producing countless features about individual companies. Thomas witnessed China’s cultural revolution and was one of the first American correspondents to enter China prior to the U.S. normalization of relations. Thomas authored several books about the Japanese financial system still in use by business schools today. In 1983 Thomas joined a top US investment bank in New York with the mandate to develop an international equity business for the firm. In 1985 he moved to London, England to establish a presence in Japanese equity derivatives for the firm. In 1989 Thomas was appointed a director of one of the big three Swiss Banks with a mandate to design sophisticated hedging strategies for the bank’s considerable holdings of Japanese equity warrants and convertible bonds. With the invasion of Kuwait by Iraq, Thomas was drafted by the US Marine Corp to serve as a pilot. In 1990 Thomas became a pioneer in the nascent hedge fund industry by founding the first dedicated Japanese hedge fund. The firm managed segregated accounts for a variety of government agencies, banks, and high net worth individuals in Europe, the Middle East, and Asia. After a decade of spectacular absolute and relative performance he sold his firm in 1999 and retired to manage his personal investments in the oil and gas industry. Seeing incredible opportunities in the marketplace and yearning for the adrenaline and satisfaction offered by active management, Thomas launched a new hedge fund in 2007. In his free time Thomas is a commercial aircraft pilot, long distance hiker and mountain climber, wine collector and avid photographer.
Market Folly is your go-to source for all the latest activity from prominent hedge funds. We're pleased to announce our brand new quarterly newsletter, Hedge Fund Wisdom. In it, you'll see what the hedge funds have been buying and selling. We track 25 of the most prominent managers in the game as well as provide in-depth equity analysis of the stocks they've been buying. Click the link below to see a free sample issue.
The author of Market Folly has experience at a long/short equity hedge fund, has been investing for a decade, and has degrees in Economics and Communications.
Chris Holt is the Managing Editor of AllAboutAlpha.com, a popular industry website/blog covering research and trends in alternative investments. In 2008, Pensions & Investments magazine ranked AllAboutAlpha.com as one of the world’s 10 best financial blogs, alongside the blogs of the Wall Street Journal and Financial Times. He has written over 1,000 articles on the hedge fund sector, with an emphasis on industry trends, academic research, surveys, and practitioner research. In his role with AllAboutAlpha.com, Chris is also a regular chair and moderator at hedge fund industry events around the world, including the semi-annual “Global Absolute Return Congress,” the world’s leading alternative investment conference for pensions and foundations.
Chris is also head of industry relations in the Americas for the Chartered Alternative Investment Analyst (CAIA) Association. The CAIA Association is a non-profit global association of alternative investment professionals and is the sponsor of the CAIA designation. Based in Amherst, MA, the CAIA Association has offices in London, Singapore and Toronto and has a dozen chapters in the world’s largest financial centers.
Prior to this, Chris was head of marketing for one of Canada’s largest hedge fund companies, and was a management consultant with several firms including Ernst & Young. Separately, he also consulted to the Annual Meeting of the Swiss-based World Economic Forum for 10 years. He is currently a member of the Editorial Board of the Journal of Alternative Investments, has an MBA from Duke University and is a CAIA Charter holder.
Visit his site: All About Alpha (http://www.allaboutalpha.com/blog/)
Blue Sky Investment Partners is an investment advisory firm that specializes in managing portfolios for high net worth families. Michael Willman is the firm’s president and chief investment officer. Mr. Willman has over 16 years of experience researching investments and managing portfolios for individuals and institutions. Mr. Willman began his investment career as a research analyst focusing on traditional investments like stock and bond separate account managers, mutual funds and exchange traded funds (ETFs). Later in his career, Mr. Willman spent eight years as the Research Director of a wealth management firm that focused heavily on alternative investment strategies including hedge funds, private equity, commodities, oil and gas, timber and real estate. The exposure over the years to both traditional and alternative investments gives Mr. Willman both a solid understanding of the global markets and also a vast network of contacts to vet investment ideas.
Dr. Susan Mangiero is an independent risk management and valuation consultant with over twenty years of experience in capital markets, global treasury, asset-liability management, portfolio management, financial risk control and valuation. She has worked on several trading desks, in the areas of foreign exchange, fixed income, futures and options. A CFA charterholder and certified Financial Risk Manager, she is also an Accredited Investment Fiduciary Analyst and Professional Plan Consultant. Dr. Mangiero sometimes serves as an expert witness on matters relating to financial valuation, risk management, asset allocation, suitability, prudence and damage assessment. She is regularly invited to speak about valuation, risk and governance with an emphasis on applications to institutional investment market participants such as pensions and hedge funds. She has addressed groups that include the U.S. Department of Labor, Chicago Board of Trade, New York State Department of Insurance, Merrill Lynch, Association of Public Pension Fund Auditors, Association of Forensic Economics, New England Public Employee Retirement Systems Forum, Global Association of Risk Professionals, American Society of Appraisers, the Wall Street Transcript, Strategy Institute, Connecticut State Department of Banking, Canadian Investment Review (keynote), Strategic Research Institute, Incisive Media (publisher of Hedge Funds Review) and the Connecticut Society of Certified Public Accountants. Her book, Risk Management for Pensions, Endowments, and Foundations (John Wiley & Sons, 2005), looks at risk management and valuation issues, with an emphasis on fiduciary responsibility and best practices. Her articles have appeared in Hedge Fund Review, Investment Lawyer, Valuation Strategies, RISK Magazine, Financial Services Review, Family Foundation Advisor, Hedgeco.net (http://hedgeco.net/), Expert Evidence Report, and Bankers Magazine. Susan Mangiero has written chapters for several books including the Litigation Services Handbook and The Handbook of Interest Rate Risk Management and is a contributing editor of the Journal of Compensation and Benefits. She has been quoted in places that include the New York Times, Wall Street Journal, Baltimore Sun, Bloomberg.com (http://bloomberg.com/), and 401(k) Wire and Pensions & Benefits. She holds a Ph.D. in finance from the University of Connecticut, an MBA in Finance from New York University, an MA in Economics from George Washington University and a BA in Economics from George Mason University.
I am the founder and sole proprietor of Active Asset Management, a registered investment advisory firm in California. My background is in Electrical Engineering and Mathematics, however investing isn't like rocket science, it's a lot more difficult. Where engineering follows the laws of physics, with many known constants, all the variables in investing are stochastic processes.
I learned about investing in stocks at an early age from my father, who has been a stock broker since the 1950s. I began investing actively in the 1980s, and have lived through enormous shifts in the market environment. My initial approach to investing was from a fundamental perspective, steeped in Buffetology and believing in reversion to the underlying value. Having experienced tremendous bull and bear markets, and bubbles and bursts, I have become extremely cognizant of the role of psychology in the equity markets, and the impact of the media.
I keep a very close eye on sentiment indicators, statistical as well as anecdotal, and approach the markets from a contrarian perspective. I tend to be most bearish when the sentiment is most ebullient, and bullish when there is the most moaning and groaning. I employ a creative approach to portfolio construction, utilizing individual stocks, ETFs, and CEFs in putting together and maintaining portfolios. My passion is for proactively managing portfolios. I strive to provide clients with a level of service that is no longer customary in today's environment, providing an unparalleled level of service to each client that the large institutional firms reserve for only the most wealthy.