Lawrence D. Hite
|Occupation||Hedge Fund Manager|
Lawrence D. Hite is a hedge fund manager who, along with Ed Seykota, is one of the forefathers of system trading. He is the author of the book, The Rule, which was named a Wall Street Journal, LA Times, and Porchlight Books bestseller.
Early life and education
During college, Hite was a rock music promoter, as well as an occasional actor and screenwriter, but eventually became serious about staying in the music business. However, after several incidents, he decided to become a stockbroker in 1968.
Hite co-founded Mint Investments in 1981. By 1990, Mint had become the largest commodity trading advisor in the world in terms of assets under management. In 1990, Jack Schwager dedicated a chapter of his bestselling book, Market Wizards, to Hite's trading and risk management philosophy. In the same year, Hite began adding systematic trading of equity markets to the Mint managed futures portfolio. During this time, he also formed a partnership with the Man Group and pioneered the principal protected fund concept, leading to a number of successful structured products and financial engineering innovations.
In 1994, he retired from his role as hands-on fund manager at Mint. Since that time he maintained the position of managing director of Hite Capital LLC.
In 2000, Hite chose to focus on his family office activities, which included proprietary trading and the funding of continued research and development in the field of systematic trading. Joined by former members of the original Mint team, Hite formed Hite Capital Management.
In that same year, Hite became a principal investor and Chairman of North America region of Metropolitan Venture Partners, a venture capital firm specializing in technology-based firms. He maintains that position to date.
As of 2010, Hite partnered with International Standard Asset Management (ISAM) to create a multi-strategy platform of liquid hedge fund strategies as well as a fund of managed accounts.
Hite founded his own charitable enterprise, The Hite Foundation, where he serves as Chairman. The foundation began with a focus on alleviating homelessness in New York, and aids scholars whose work and lives are threatened in repressive societies. Additionally, he serves as Chairman of the Development Committee for the Institute of International Education's Scholar Rescue Fund. The committee's goal is to provide a safe haven for academics and professionals who are at risk throughout the world.
- The Rule: How I Beat the Odds in the Markets and in Life--And How You Can Too (McGraw-Hill Education, 2019). ISBN 9781-2604-52655
- "Larry Hite, Trend Follower, Profiled in The Market Wizards - TurtleTrader® The Original from Michael Covel". TurtleTrader® The Original from Michael Covel. Retrieved 2017-07-17.
- Schwager, Jack D. (1995). The New Market Wizards page 476: Wiley; New Ed edition. ISBN 0-471-13236-5.
- "Hite Capital Management, LLC: Private Company Information". Bloomberg.
- "Bloomberg". Retrieved 28 November 2016. CS1 maint: discouraged parameter (link)
- "Famous Traders". Forex Traders.
- "Famous Traders". Forex Traders.
- "Scholar Rescue Fund: Named Chairs". Institute of International Education. Archived from the original on 2015-11-12. Retrieved 2015-10-17.
- "The Hite Foundation". Foundation Center. Retrieved 13 August 2016. CS1 maint: discouraged parameter (link)
- "Scholar Rescue in the Modern World Book Signing Event". Scholar Rescue Fund. April 21, 2010. Retrieved 13 August 2016. CS1 maint: discouraged parameter (link)
- Mustapha, Azeez (July 15, 2015). "Larry Hite: What Can You Learn from Him?". Inside Future. Retrieved 13 August 2016. CS1 maint: discouraged parameter (link)
- Covel, Michael W. (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets. FT Press. ISBN 978-0-13-702018-8. CS1 maint: discouraged parameter (link)
- Davidson, Alexander (2002). The 10-week Flexible Investment Plan. Kogan Page Ltd. p. 174. ISBN 0-7494-3885-1.
- Kroll, Stanley; Paulenoff, Michael J. (1992). The Irwin Guide to the Futures Markets. Chapter: McGraw-Hill Trade. ISBN 1-55623-625-5.
- Nagy, Andras M. (2006). Retire Worry Free. Murine Press. pp. 89, 96. ISBN 0-9753093-1-5.
- Schwager, Jack D. (1993). Market Wizards: Interviews with Top Traders. Collins. ISBN 0-88730-610-1. CS1 maint: discouraged parameter (link)
- Schwager, Jack D. (1995). The New Market Wizards. Wiley; New Ed edition. p. 476. ISBN 0-471-13236-5. CS1 maint: discouraged parameter (link)
- Steenbarger, Brett N (2003). The Psychology of Trading. John Wiley & Sons. p. 18. ISBN 0-471-26761-9.
- Vaga, Tonis (1994). Profiting from Chaos. Mcgraw-Hill. p. 124. ISBN 0-07-066786-1.
- The Rule: How I beat the odds in the markets and in life - and how you can too, by Larry Hite 2019 p.5