New York (HedgeCo.net) – Hedge fund manager Richard Bookstaber will be speaking at is year’s HedgeWorld Fall Conference. He is the author of “A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation,” a book that pinpointed the market weaknesses that spun out of control to create today’s financial crisis.

“A Demon of Our Own Design” ranked number one on Amazon in finance and was selected as a finalist for the prestigious Loeb Award. Bookstaber was named to this year’s Conde Nast Portfolio list of top 25 technical innovators, joining the ranks of Steve Jobs, Jeff Bezos, Jeffrey Katzenberg and Eric Schmidt.

He has testified before the House and Senate, calling for greater transparency and improved regulation for Wall Street long before it was fashionable. BOOKSTABER recently worked at Bridgewater Associates, the world’s largest hedge fund, and before that ran the Quantitative Equity Fund at FrontPoint Partners.

He was in charge of risk management at Moore Capital Management, another hedge fund with over $10 billion in assets. He served as the managing director in charge of firm-wide risk management at Salomon Brothers and was a member of Salomon’s powerful Risk Management Committee. Bookstaber also spent ten years at Morgan Stanley, first designing and marketing derivative instruments, then as a proprietary trader, and concluding his tenure there as Morgan Stanley’s first market risk manager. In addition to A Demon of Our Own Design (Wiley, 2007), he is the author of three other books and scores of articles on finance topics ranging from option theory to risk management. He has won the Graham and Dodd Scroll from the Financial Analysts Federation and the Roger F. Murray Award from the Institute for Quantitative Research in Finance for his research. Bookstaber has a Ph.D in Economics from M.I.T.

The conference is being held at the Metropolitan Club in New York on October 6th, 2009.

Alex Akesson
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Tags: financial innovation, hedge-fund-manager, hedgeworld, morgan stanley, proprietary-trader, risk management committee

TriCityHerald.com – The Securities and Exchange Commission has merged several offices and functions to create a division of risk, strategy and financial innovation.

The new division will be headed by Henry T.C. Hu, a professor of banking and finance law at the University of Texas, the agency announced Wednesday.

The division combines the SEC’s Office of Economic Analysis, Office of Risk Assessment and other functions. It will assume those areas as well as strategic and long-term analysis, identification of new trends in financial markets, and risk to the financial system.

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Tags: economic analysis, financial innovation, new trends, risk-assessment, strategy division

The Economic Times – The mavens continue to pore over figures and analyse the why, how and after-effects of bankruptcy of the major-league investment bank Lehman , on September 15 last year. It’s clear that financial innovation in the mature markets was way ahead of the curve vis-a-vis regulation and prudential norms in this decade, and especially in the run-up to the recent global financial crisis.

A recent working paper at the National Bureau of Economic Research in the US has looked into how ‘shocks to fundamentals’ that affect wealth, read capital, of key financial institutions can well set off a severe downward spiral.

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Tags: financial innovation, financial-institutions, global financial crisis, mature markets