Role of United States

100 percent

Role of Technology

6 percent

Role of Private Equity

Strategic relationship

Role of Macro

0 percent

Allocates to Other Managers

Less than 1 percent

Risk Management

Net Exposure

Averages 48 percent

Hedging Technique

Short stocks

Maximum Leverage

Self-imposed 3:1
Theoretical 6:1

Memorable Loss

Three losing quarters:
Q1 1994, Q3 1998, Q3 1999

Risk Management

Hedged
Low net exposure
Diversification
Position size limits
Liquid positions only

Background Information

Initial Spark

High school

Professional Background

Accounting consultant

Education

University of Virginia;
University of North Carolina Business School

Motivation/Satisfaction

Competitive

Age

36

Free Time

Basketball, golf, reading