Letter #181: Chi-fu Huang (2013)
Long-Term Capital Management Partner & Head of Asia and Platinum Grove Founder | From Theory to Practice: A Thirty-Year Journey
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Last week was all about Berkshire Hathaway and value investors—so today, I wanted to share the career retrospective of a legendary quant.
Today’s letter is a presentation by Chi-fu Huang titled “From Theory to Practice: A Thirty-Year Journey.” In this presentation, Chi-fu shares his life story, from his college years in Taiwan to his grad school years in the US to working with and becoming one of the most accomplished quants in the world. He discusses key learnings and results from his PhD dissertation and time at Goldman, LTCM, and PGAM.
Chi-fu Huang is a private investor who most recently founded Platinum Grove Asset Management (PGAM) with Nobel Laureate Myron Scholes, and served as CEO and CIO from 1999-2009 and Non-executive Chairman from 2010-2013. While he was CEO and CIO, PGAM was one of the largest fixed income relative value focused hedge funds in the world. Prior to founding PGAM, Chi-fu was a Partner of Long Term Capital Management (LTCM) from 1995-1999 and the Co-Head of their Asia office from 1997-1999. Before LTCM, Chi-fu was the Head of Fixed Income Derivatives Research at Goldman Sachs from 1993-1994. Chi-fu was originally just supposed to visit Goldman for a year while on a leave of absence from MIT, but after just six months, was asked to stay permanently and become the head of their Fixed Income Derivatives Research Group.
I hope you enjoy this presentation as much as I do!
Relevant Resources:
Slides
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Wrap-up
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