May 2012
Beginner
526 pages
13h 11m
English
Content preview from Hedge Fund Market WizardsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
Chapter 8
Michael Platt
The Art and Science of Risk Control
Michael Platt achieved career clarity at an early age. “I have had a very easy life,” he says, “because I never had to think about what I wanted to do. I wanted to be a trader from when I was 12, and I started when I was 13.” Platt continued to successfully trade stocks through high school and university with one major exception: His stock account lost half its value in a single day—the crash of October 19, 1987. This episode was the first and last time Platt experienced a large percentage loss.
After graduating from the London School of Economics in 1991, Platt joined JP Morgan where he had an extremely profitable eight-year career, trading a wide range of fixed income derivatives. His success at the firm led to repeated promotions, culminating with his appointment as managing director in London with the responsibility of heading up proprietary relative value trading. Platt left JP Morgan in 2000, along with William Reeves, to co-found BlueCrest. The firm has been extremely successful, growing to close to $29 billion in assets under management and nearly 400 staff by early 2012. The majority of assets are in two programs: a discretionary strategy headed by Michael Platt, and a systematic trend-following strategy headed by Leda Braga, who joined the firm in 2001.
The discretionary trading strategy has achieved an average annual compounded net return of just under 14 percent.1 The hallmark of BlueCrest’s performance is ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.