ABOUT THE AUTHOR
Richard Bookstaber ran a market neutral equity hedge fund at Front-Point Partners. Before that he was the managing director at Ziff Brothers Investments, with responsibility for risk management and for the Quantitative Strategy Group. In the latter capacity he developed and managed the firm’s quantitative long/short equity portfolio. Before joining Ziff in 2002 he was responsible for risk management at Moore Capital Management. Prior to joining Moore, Dr. Bookstaber was the managing director in charge of firmwide risk management at Salomon Brothers, and served on that firm’s Risk Management Committee. He remained in these positions at Salomon Smith Barney after the firm’s purchase by Travelers in 1997 and the merger that formed Citigroup.
Before joining Salomon in 1994, Dr. Bookstaber spent 10 years at Morgan Stanley in quantitative research and as a proprietary trader. He also managed portfolio hedging programs as a fiduciary at Morgan Stanley Asset Management. With the creation of Morgan Stanley’s risk management division, he was appointed as the firm’s first director of market risk management.
Richard Bookstaber also is the principal of Scribe Reports, a firm that provides analytics for skill assessment of long/short equity portfolio managers. He is the author of a number of books and articles on finance topics ranging from option theory to risk management, and has received various awards for his research, including the Graham and Dodd Scroll from the Financial ...