Aaron C. Brown
Aaron C. Brown (born November 27, 1956) is an American finance professor, author[1] and quant[2]. He wrote Red-Blooded Risk: The Secret History of Wall Street[3], The Poker Face of Wall Street [4] and A World of Chance [5] (with Reuven and Gabrielle Brenner). He is a regular columnist for Wilmott Magazine and Quantum Magazine. At the Global Association of Risk Professionals annual convention in February 2012, Aaron Brown was named risk manager of the year.[6]
He is best-known for the idea that the economics of modern global derivatives evolved from gambling games rather than older financial institutions,[7] and that gambling remains at the core of economic life.[8][9]
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[edit] Biography
Brown was born in Seattle, Washington and graduated from Harvard University (S.B. Applied Mathematics, 1978) and the Graduate School of Business, University of Chicago (MBA Finance and Statistics, 1982).[10] Both in college and graduate school he was a professional poker player[11] and did active financial trading for his own account.[4]
In 1982 he moved to New York and held a variety of financial jobs including portfolio manager (Prudential Financial), trader and head of Mortgage Securities (Lepercq, de Neuflize), risk manager (JPMorgan Chase, Rabobank, Citigroup, Morgan Stanley and AQR Capital Management) and finance professor (Fordham and Yeshiva Universities).[12][13]
In 1998 he founded and ran a shareholder rights website (www.eRaider.com) linked to a public mutual fund (The Allied Owners Action Fund).[10] The fund took 5% positions in public companies while the website organized all institutional and retail shareholders in an attempt to influence corporate management.[14]
[edit] See also
- Scott Patterson's The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It (Crown Business, 2010) contains extensive accounts of Aaron Brown's career and credits him with ending the Quant Equity Crash of August 2007 by being the first quant manager to go back into the market.
[edit] References
- ^ Stephen Schurr, Gamblers Profit from Holding a Strong Hand, Financial Times, March 20, 2006
- ^ Bill McGuire, Morgan Stanley's Aaron Brown Plays Poker on the Trading Floor, Bloomberg, April 27, 2006
- ^ Brown, Aaron C. Red-Blooded Risk: The Secret History of Wall Street John Wiley & Sons (2012),ASIN: B005NZMSM0
- ^ a b Aaron Brown, The Poker Face of Wall Street, John Wiley & Sons (2006), ISBN 978-0470127315
- ^ Reuven and Gabrielle Brenner, and Aaron Brown, A World of Chance: Betting on Religion, Games, Wall Street, Cambridge University Press (2008), ISBN 978-04701273152
- ^ PRNewswire
- ^ Mark Etzkorn, Aaron Brown: Behind the Street's Poker Face, Active Trader Magazine, June and July 2006 (two part cover story)
- ^ David Penn, Interview with Aaron Brown, July 2008
- ^ Manny Schiffres, When to Hold or Fold Your Stock PortfolioKiplinger's Personal Finance Magazine, August 2006
- ^ a b Adam Leitzes and Joshua Solan, Bulls, Bears and Brains: Investing with the Best and Brightest of the Financial Internet, John Wiley & Sons (2002), ISBN 978-0471442943
- ^ David Penn, Aaron Brown: Poker Wizard of Wall Street, June 2008
- ^ Risk Magazine, July 2007, page 15 (incl. photo), Incisive Media, ISSN 0952-8776
- ^ Haug, Espen (2007). Derivative Models on Models. John Wiley & Sons. ISBN 978-0470013229.
- ^ Catherine Siskos, Internet Shareholders Unite to Take Over a CompanyKiplinger's, May 2002
[edit] External links
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Wikiquote has a collection of quotations related to: Aaron C. Brown |
- Do Quants Destroy?
- Foreword to The Poker Face of Wall Street by N. N. Taleb (pdf)
- Risk versus Portfolio Management
- ERaider.com
