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

Reuters- Melissa Ko, a former star trader at Bear Stearns, has formed a new hedge fund called Covepoint Capital with nearly $1 billion in assets, according to a letter the firm sent to investors on Monday.

Ko ran Bear’s Emerging Markets Macro Fund, which generated returns of more than 25 percent from 2005 to 2007 through currency, sovereign debt, equity and other investing strategies. New York-based Covepoint has assets of about $925 million, mainly from previous investors in the Bear fund.

Covepoint is the latest hedge fund to become independent from the former Bear Stearns Asset Management (BSAM) division, a collection of funds which held about $27 billion in assets when JPMorgan Chase & Co bought the crippled investment bank on May 30.

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Tags: 100-million, bad-news, brokerage-business, eliot-spitzer, emerging-market, investment-arm, july-1, losses, medallion, melissa, newcastle, nutmeg, paul-touradji, previous-years, proprietary-trader