Hilary Till and Richard Heckinger have seen risk management succeed and fail from the inside. Both are veterans in the derivatives industry. Till, a former derivatives trader in Boston, Chicago and London for Harvard Management Company and Putnam Investments among others is currently a research associate for the EDHEC Risk Institute (2006 to 2017) and contributing editor of the Global Commodities Applied Research Digest published by the J.P. Morgan Center for Commodities at the University of Colorado Denver Business School. Heckinger worked at the Federal Reserve Bank of Chicago and is currently a member of the Working Group on Financial…
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- Both Amaranth Advisors and MF Global had important similarities and differences that can serve as a teaching moment
- The Amaranth Advisors “debacle” is about improper leverage usage in a small market (with strategy drift leading the way)
- Trades based on a disaster to payout are typically do not represent 75% of portfolio profits if the fail tail event has not occurred
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