HFR Homepage
Login Register for full access to website About HFR Contact HFR Careers at HFR Website User Preferences Pricing Institutional Subscriptions Special Promotions HFR Inc. Twitter Feed HFR blog

HFR Databases HFR Industry Reports HFRX Indices HFRI Indices HFRU Indices HFR Index Licensing Custom Research Media Center Report to HFR Database Login HFR ManagerLink

HFR Industry

HFR Industry Summit - Outlook 2008 Panelists

Russell Abrams
Founder and Senior Portfolio Manager
Titan Capital Group
Russell is Titan Capital Group’s founder and Senior Portfolio Manager. Titan Capital Group was opened in 2001 and currently serves as investment manager to various volatility arbitrage hedge funds. Russell has extensive experience managing options portfolios as well as trading both index and single stock options in a variety of markets. Prior to forming Titan, Russell was co-head of US Equity Derivative Trading and Convertible Arbitrage at Merrill Lynch from 1997-2000. Russell spent the previous five years working for Bank Paribas and then CS First Boston where he gained significant experience trading derivatives in multiple markets. During 1992 and 1993, Russell worked with Fischer Black researching derivative strategies at Goldman Sachs Asset Management.

He graduated from Boston University in 1988 with a degree in Computer Science and received his MBA in Finance in 1993 from New York University Stern School of Business.

Marko Dimitrijevic, Founder
Everest Capital
Marko Dimitrijevic, CFA has 26 years of experience in international investment management and research analysis. Prior to founding Everest Capital in 1990, Mr. Dimitrijevic was Senior Vice President-Investments of Triangle Industries, a Fortune 500 company, where he managed large securities portfolios and analyzed, structured and negotiated acquisitions and financings. Mr. Dimitrijevic also worked in the mergers and acquisitions and high-yield bond trading departments of PaineWebber, and was a global investment manager for Compagnie de Banque et de Credit, a Swiss bank.

Mr. Dimitrijevic is a graduate of the University of Lausanne, Switzerland and holds an M.B.A. degree from the Stanford Business School where he was an Arjay Miller Scholar (Top 10%), and where he served for six years as a Trustee of the Stanford Business School Trust. Mr. Dimitrijevic is currently a member of the Stanford Graduate School of Business Advisory Council and serves on the Board of Trustees of the Miami Museum of Science & Planetarium. He has been a guest lecturer at the Darden Graduate School of Business at the University of Virginia and the Stanford Business School, and is featured in the books Inside the House of Money and Investing with the Hedge Fund Giants.

Mr. Dimitrijevic is a Chartered Financial Analyst. He is fluent in French, Spanish, Portuguese and Serbo-Croatian and is conversational in Italian.

Michael P. Dooley, PhD
Partner, Head of Research
Cabezon Capital Management, LLC
Dr. Michael Dooley is a founding partner and Head of Research at San Francisco-based Cabezon Capital Management, which manages the BWII, LP global macro fund. Dr. Dooley has dedicated his 35+ year career to the study of financial markets and economic development. Dr. Dooley is the chief architect of the Bretton Woods II framework, and his research and analysis drive the investment processes of numerous financial institutions and hedge funds.

Dr. Dooley began his career in 1971 as an economist for the Division of International Finance at the Board of Governors of the Federal Reserve System. He joined the International Monetary Fund in 1983, where he held the position of Assistant Director, Research. He published numerous books and papers dealing with international debt crises and debt rescheduling and was a key participant in several Brady Plan workouts.

Dr. Dooley left the IMF in 1992 to develop a PhD program in International Economics at the University of California, Santa Cruz, where he continues to hold a professorship in Economics. In 2001, he joined a team at Deutsche Bank working to restructure Argentina's debt. He remained at Deutsche Bank to serve as Chief Economist, Latin America (2002-2003), Senior Advisor, Global Markets (2003-2005), and a consultant to their emerging markets hedge funds relationships.

Dr. Dooley has been a Research Associate at the National Bureau of Economic Research since 1992 and an Editor for International Journal of Finance and Economics since 1994. Dr. Dooley holds a Ph.D. in Economics from Pennsylvania State University, a M.A. in Economics from the University of Delaware and a B.S. in Economics from Duquesne University.

Alphonse Fletcher, Jr.
Founder and CEO
Fletcher Asset Management, Inc.
Alphonse Fletcher, Jr. develops strategies at Fletcher Asset Management (and affiliates) that have generated superior, long-term, risk-adjusted returns by combining meticulous risk management, constructive deal terms, and comprehensive analysis of companies. Sought after as a supportive shareholder, FAM has provided over one billion dollars to promising companies led by skilled management employing responsible business practices especially during times of tight credit.

In 1995, FAM registered with the SEC and accepted its first investors, including a leading endowment, after investing exclusively for its own account as a Registered B/D for its first five years, often representing more than 5% of the NYSE daily trading volume. Prior to founding FAM, Mr. Fletcher pursued similar strategies as founder and SVP of one of the most profitable proprietary investment teams at GE’s Kidder, Peabody & Co. division and before that at as a VP in a similar group at Bear, Stearns, & Co. Inc. which recruited him from college.

A graduate of Harvard College where he studied applied mathematics and was cross-enrolled at M.I.T each year and Yale University where he received a Master’s degree in Environmental Management, Mr. Fletcher served as an officer in the US Air Force Reserves for almost a decade, has served as chairman of the Fletcher Foundation since 1993, and has received four honorary degrees in recognition of his public service and contributions to business.

Carl Goldsmith, EVP
Post Advisory Group
Carl Goldsmith (Executive Vice President and Senior Investment Officer) has been with Post Advisory Group since 1994. He currently oversees the Alternative Investment Strategies for Post. He has been the Portfolio Manager on both the Post Total Return (Multi Strategy, launched 1996) and Distressed (launched 1999) platforms since their inceptions. Prior to Post, Carl worked in the Bankruptcy Support and Valuation departments at Price Waterhouse, advising debtors and creditors in bankruptcy restructurings. Carl received a bachelor's degree in economics from the University of Pennsylvania's Wharton School of Business and a J.D. from the University of California, Los Angeles School of Law.

Thomas B. Hazuka, Ph.D.
Chief Investment Officer
Mellon Capital Management Corporation
As Chief Investment Officer of Mellon Capital, Thomas Hazuka provides management oversight and strategic leadership for all of the firm's portfolio management, trading and research groups. With 34 years of investment experience, Tom's responsibilities encompass all domestic and international equity, fixed income, asset allocation, and derivative strategies.

Tom Hazuka joined Mellon Capital in 1986, originally as manager of fixed income, with responsibility for creating a fixed income capability. He has had responsibility for the investment management area since 1989. In 1989, Tom researched and implemented the Tangent-Added® Tactical Asset Allocation strategy. He has been instrumental in developing enhancements to the Asset Allocation Model and in developing the Global Tactical Asset Allocation Model.

Tom received his Ph.D. in finance from Stanford University, an M.B.A. from the University of Connecticut, and a BSEE from Stevens Institute of Technology. His research has resulted in publications in the Journal of Finance and Financial Analysts Journal. In addition, he is a member of the editorial board of the Journal of Asset Management.

Stanley J. Kon, Ph.D.
Executive Vice President
Smith Breeden Associates, Inc
Stanley J. Kon, Ph.D., is a member of the Executive Committee and an Executive Vice President at Smith Breeden Associates, Inc. As co-head of Smith Breeden's Investment Management Group, Dr. Kon also serves as the firm's Director of Research. Prior to joining the firm in 1997, Dr. Kon was a Professor of Finance at the University of Michigan since 1982. During this time, he served as Chairman of the Finance Department, Director of the J. Ira Harris Center for the Study of Corporate Finance, and a member of the advisory board for the Mitsui Life Financial Research Center. Prior to 1982, Professor Kon served on the faculties of New York University, University of Chicago, and the University of Wisconsin at Madison. He has written extensively in the areas of investment management, performance measurement, asset pricing, and statistical models of stock returns, publishing articles in various journals, including the Journal of Financial Economics, Journal of Finance, Journal of Business, Journal of Empirical Finance, Journal of Fixed Income, and Financial Analysts Journal. Dr. Kon is the editor of the Journal of Fixed Income.  

Dr. Kon has also served as a consultant to government, business, and financial institutions, including the U.S. Department of Labor, Resolution Trust Corporation, U.S. Securities and Exchange Commission, Catalyst Group, The Commodity Exchange, and Chase Econometric Associates.

Dr. Kon holds a Ph.D. in Finance from the State University of New York at Buffalo, a Master of Business Administration in Finance and Economics from St. John's University, and a Bachelor of Science in Chemical Engineering from the Lowell Technological Institute.

Odell Lambroza
Portfolio Manager
Advent Capital Management
Mr. Lambroza serves as Manager of Alternative Investments and Co-Portfolio Manager of the Advent Convertible Arbitrage Strategy and Advent Global Opportunity Strategy.

Prior to joining Advent in 2001, Mr. Lambroza was Managing Director of the Convertible Securities Department at SG Cowen, where he managed the trading desk and ran the sales effort. He was instrumental in launching US-focused investment banking for convertible issuance. Mr. Lambroza also managed the convertible sales and trading departments at HSBC Securities and Bankers Trust. He began his career in the Convertible Securities Department at Merrill Lynch, where he spent nine years working with Mr. Maitland, the founder and CIO of Advent.

He graduated from Cornell University with a degree in Computer Engineering.

Edward Mullen
Chief Executive Officer
Emperor Investment Management
Ed Mullen is the Chief Executive Officer of Emperor Investment Management, a China-focused asset management company based in Shanghai. He was also the Founder and Managing Director of Dynasty Asset Management, established in 2000, which was one of the earliest investment companies to have set up operations in China. Mr. Mullen runs and oversees the firm's China-related investment funds, and employs a team of multi-lingual professionals based in Shanghai, China.

Mr. Mullen has over six years of China-based hedge fund experience working with investors from around the world, and over fifteen years experience in the hedge fund industry. Prior to moving to Shanghai, he represented and worked with numerous high net worth families, private foundations, and money management firms, including the principals of Glenwood Financial Group (now part of Man Investments), to develop financial reporting and evaluation systems, risk management systems, and also in incubating and marketing hedge funds inside and outside of the U.S. to global investors. Mr. Mullen is known for his expertise in investment evaluation, performance monitoring, risk assessment, business operations and structuring, and systems architecture.

Mr. Mullen received an A.B. in Economics, cum laude from Harvard University. He also studied at the University of Michigan and Hokkaido University in Sapporo, Japan.

Richard C. Patton
Principal and Chief Manager
Courage Capital Management, LLC
Richard C. Patton is a Principal and the Chief Manager of Courage Capital Management, LLC. Mr. Patton founded Courage in July, 1998. From 1996 to 1998, Mr. Patton and Ingram Industries formed and operated Woodmont Capital, LLC. which focused on special situations investing in private and public market securities. Woodmont was a seed investor in Courage Capital Management and is no longer active. From 1992-1994, Mr. Patton was a Portfolio Manager and Analyst with Fidelity Investments.

Mr. Patton’s professional beginnings were as founder and CEO of a restaurant group, which he ultimately sold. He currently serves on the board of directors of Williamson-Dickie Manufacturing Company, which manufactures and sells work wear; and Krystal Restaurant Group, which operates fast-food restaurants in the southeastern United States. He has also served on the boards of Blessings (Packaging); Ingram Barge Company, and Permanent General Insurance (now Standard Insurance). Mr. Patton earned a B.S. in Economics from Vanderbilt University and an M.B.A. from Harvard Business School.

Robert Sanborn, Co-founder
Sanborn Kilcollin Partners
Robert Sanborn is the co-founder of Sanborn Kilcollin Partners and is primarily responsible for all the investment decisions of the Firm. He has over 19 years experience in portfolio management and investment analysis. Mr. Sanborn was the portfolio manager of The Oakmark Fund, the flagship mutual fund of Harris Associates, L.P., from Oakmark’s launch in August 1991 through March 2000. During this period, The Oakmark Fund’s assets grew from $100,000 to over $9 billion. In 1998, Lipper, Inc. ranked Oakmark in the top 10% of value mutual funds, and Barron’s named Mr. Sanborn the 1997 Fund Manager of the Year. Mr. Sanborn has been a strong and consistent proponent of value investing.

Mr. Sanborn was a long-time member of Harris Associates’ Board of Directors and Stock Selection Committee. Before joining Harris in 1988, he was a security analyst and equity portfolio manager for the Ohio State Teachers Retirement System, from 1983 to 1988.

Mr. Sanborn holds a BA from Dartmouth College (1980) and an MBA from the University of Chicago (1983). He has been married to Louise Vesco and is the proud father of twins.

Steven A. Sugarman, Partner
GPS Partners
Steven A. Sugarman (age 32) is a Partner of GPS Partners. Previously, he worked at Lehman Brothers, where he was primarily responsible for the management of income-oriented assets and strategies. From 2002 to 2004, he founded and served as CEO of Sugarman Enterprises, a financial advisory firm, and the Law Offices of Steven Sugarman. During this period, Mr. Sugarman was a senior advisor to MKA Capital, a $350 million mezzanine real estate lending fund, where he developed investment and risk management tools. He began his career as a Senior Associate at McKinsey & Company.

He is the co-author of The Forewarned Investor, published by Career Press (2006). Mr. Sugarman is a graduate of the Yale Law School (J.D.) and Dartmouth College (A.B. with Honors, Cum Laude).

Richard Thaler, PhD
Board Member & Principal
Fuller & Thaler
Dick is actively involved in setting strategic direction and enhancing the research and investment processes at Fuller & Thaler. He is the Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science, Economics and Finance at the Graduate School of Business of the University of Chicago. He has also taught at Cornell and MIT and is considered one of the leading scholars in the field of behavioral finance and economics.

Dick's published books on behavioral finance include The Winner's Curse: Paradoxes and Anomalies of Economic Life and Quasi-Rational Economics. He co-heads the National Bureau of Economic Research Behavioral Finance Project. Dick received his BA from Case Western University, and his MA and PhD degrees in Finance from the University of Rochester. He is a shareholder of the firm and a member of the Board of Directors.

Peter Thiel
Founder and President
Peter Thiel is founder, president, and portfolio manager of Clarium, a global macro hedge fund based in San Francisco with over $2.7 billion in assets. Before Peter started Clarium, he was the co-founder and CEO of PayPal, the leading e-payments company that was acquired by eBay in October 2002. Peter began his financial career trading derivatives at CS Financial Products, after practicing securities law at Sullivan & Cromwell.

In addition to managing Clarium, Peter participates in a variety of philanthropic and educational pursuits, including seats on the Board of Directors of the Pacific Research Institute and on the Board of Visitors of Stanford Law School, where he has also taught. Mr. Thiel received a BA in Philosophy from Stanford University and a JD from Stanford Law School.

Joseph L. Toms
Chief Investment Strategist
RAB Capital
Joseph L. Toms is the Chief Investment Strategist for RAB Capital, PLC. RAB is a Global Absolute Return Manager managing $7 billion dollars in over fifteen strategies. Mr. Toms helps formulate the firm's macro views and coordinates overall research efforts across RAB's broad product offerings.

Mr. Toms has over twenty years of institutional money management experience. He started his money management career in 1985 at Fisher Investments where he became the Director of Research and helped build the firm into a leading multi-billion dollar equity style manager. Mr. Toms founded Hilspen Capital in 1996, which managed an equity long/short hedge fund and recently an asset / sector allocation product. He also produced macro-based research employed by well known global institutions in their analysis of asset market trends.

Mr. Toms has been profiled in Barron's on his outlook for the U.S. equity market and has appeared on CNN and CNBC. His research is noted for its cogent, original and often prescient analyses and forecasts. Mr. Toms graduated from the University of California Santa Barbara with a degree in Political Science. He resides in Hillsborough, California with his wife, Kathryn and teenaged daughter and son, Hilary and Spencer.

Adam Usdan
Founder, President,
& General Partner
Trellus Management Company
Mr. Usdan has been in the investment advisory industry for over twenty years, and has been the President of Trellus since inception in January 1994. Mr. Usdan began his investment career in 1987 at Odyssey Partners, where he was responsible for managing long/short U.S. equity (small to mid-cap) pools of capital.

Mr. Usdan holds an MBA from the Kellogg Graduate School of Management at Northwestern University with majors in Finance, Marketing, and Accounting and a BA in English from Wesleyan University.

James Wong
Head of Investor Relations
Paulson & Co.
James Wong is Managing Director, Head of Investor Relations of Paulson & Co. He joined Paulson & Co. in 2003 as head of the marketing and investor relations and is the senior product specialist and principal liaison between the investment team and the firm's nearly 500 global institutional investors. He regularly participates in investment team meetings and manages a team of 11 people.

Paulson & Co. is a global $23 billion event arbitrage hedge fund founded in 1994 with offices in New York and London. The firm has three core strategies in merger arbitrage, event arbitrage, and opportunistic credit. Paulson & Co. is a registered investment advisor and currently has 50 employees. The investment team is comprised of mergers and acquisitions and corporate finance experts with academic distinction, investment banking and legal experience.

Prior to joining Paulson, from 2000 to 2003, Mr. Wong worked as an analyst and product specialist at Amaranth Advisors. Prior to 2000, he was a senior executive in the technology industry for ten years and graduated from Tufts University in 1986 with a BA in Economics.

Mr. Wong currently resides in Darien, CT with his wife Priscilla and three children.

Joseph G. Nicholas
CEO, Founder and Chairman
HFR Group L.L.C.
Joseph G. Nicholas is Founder and Chairman of HFR Group L.L.C. and its affiliated companies. The HFR companies specialize in alternative investments, providing investment products and advisory and research services. HFR Group includes HFR Asset Management, L.L.C., an SEC Registered Investment Adviser based in Chicago, with offices in London and Tokyo, specializing in fund of funds management, index funds management, product structuring, trading manager selection and risk management; and Hedge Fund Research, Inc., the industry's leading supplier of data and research on hedge funds, specializing in the construction and management of hedge fund indices. Mr. Nicholas is author of several books on investing in Hedge Funds and Fund of Funds Investing (Bloomberg Press). Mr. Nicholas received a Bachelor of Science degree in Commerce from DePaul University and a Juris Doctor degree from the Northwestern University School of Law.

Kenneth J. Heinz
Hedge Fund Research, Inc.
Kenneth J. Heinz, CFA is the President at Hedge Fund Research, Inc., a research firm specializing in the aggregation, dissemination and analysis of alternative investment information. Kenneth has contributed broadly & extensively to print, electronic and live financial media sources which include CNBC, Bloomberg, Wall Street Journal, Financial Times, Dow Jones and various hedge fund industry specific publications. Prior to assuming the role of President, Kenneth had been with HFR Asset Management since 2002, most recently as Manager of the Investment Management Division. Prior to joining HFRAM, he had over 5 years of experience as a trading member of the Chicago Mercantile Exchange and the Chicago Board of Options Exchange. Kenneth has a MBA from the University of Chicago with a concentration in Finance, Statistics and Econometrics, as well as a Bachelor's Degree in Finance from the University of Illinois; he maintains the designation of Chartered Financial Analyst.

Guest Speaker: Arrival Reception: October 10, 2007

Dr. Neil H. Shubin
Neil H. Shubin researches the evolutionary origin of anatomical features of animals. He has conducted field work in Greenland, China, Canada, much of North America and Africa, and he has published multiple articles in the Journal of Vertebrate Paleontology and Paleobiology, as well as more than 18 articles in Science and Nature.

Shubin's most recent discovery, Tiktaalik roseae, has been dubbed the "missing link" between fish and land animals. He has also done important work on the developmental biology of limbs. The evolution of limbs is Shubin's specific area of expertise. He uses his diverse fossil findings to devise hypotheses on how anatomical transformations occurred by way of genetic and morphogenetic processes.

A John Simon Guggenheim Memorial Foundation fellow, Shubin earned a Ph.D. in organismic and evolutionary biology from Harvard University in 1987 and joined the University faculty as Chairman of Organismal Biology & Anatomy in 2001.

For questions regarding the Event please contact HFR at

© 2015 Hedge Fund Research, Inc. - All rights reserved. HFR®, HFRI®, HFRX®, HFRQ®, HFRU®, WWW.HEDGEFUNDRESEARCH.COM® and HEDGE FUND RESEARCH™ are the trademarks of Hedge Fund Research, Inc.