Risk Management

Net Exposure

10 to 25 percent (typical)

Hedging Technique

Diversified portfolio, noncorrelated

Maximum Leverage

Varies

Memorable Loss

Everyday experience

Risk Management

Maximum 2 percent risked per idea; takes small positions; uses leverage cautiously; stress tests portfolio

Background Information

Initial Spark

Postgraduate school; sees opportunities in futures markets

Professional Background

Academic, politics

Education

Harvard University

Motivation/Satisfaction

Challenge/community of smart people

Age

55

Free Time

Books, music, educational reform