Role of Macro

Varies

Allocates to Other Managers

No

Risk Management

Net Exposure

One-third of portfolio

Hedging Technique

S&P futures, Treasuries, cash

Maximum Leverage

3:1 in low volatility, safe situations; very little in last few years

Memorable Loss

Russia 1998

Risk Management

Little leverage; moves to cash; 5 percent maximum per trade

Background Information

Initial Spark

Watching father trade stocks

Professional Background

Head trader at Goldman Sachs

Education.

University of Pittsburgh; Carnegie Mellon Business School

Motivation/Satisfaction

The game

Age

43

Free Time

Coaches children's sports teams, golfs, swims