The concept of volatility as an asset class has been around for decades. Long and short volatility strategies to hedge and/or enhance portfolio returns have been used since the 1970s. Over the last fifteen years, investor interest in long/short volatility strategies as a stand-alone asset class has increased substantially. More recently, the explosion of volatility-linked index products is witness to the continued growing investor demand for exposure to this new asset class.
Alpha Z Futures Fund, LLC is an alternative investment fund formed to trade in equity index futures and options. The Fund’s Manager, Alpha Z Advisors, LLC, is led by Dr. William T. Ziemba, prominent financial economist and Alumni Professor of Financial Modeling and Stochastic Optimization in the Sauder School of Business, University of British Columbia. The Manager’s proprietary trading methods are discretionary, but quantitative and systematic, based on Dr. Ziemba’s decades of research and trading experience in stock market calendar anomalies, arbitrage strategies and behavioral biases. The trading portfolio is actively monitored to control risk exposure. Trade entry, implementation and monitoring is conducted primarily by Dr. Ziemba, with support from trading operations in Vancouver and Chicago.
Dr. William T Ziemba, Chief Investment Officer and Trading Principal
William T Ziemba (Ph.D., University of California-Berkeley) is Alumni Professor Emeritus of Financial Modeling and Stochastic Optimization in the Sauder School of Business, University of British Columbia. Dr. Ziemba is currently Distinguished Visiting Associate at the Systematic Research Center at the London School of Economics, and has taught seminars, courses and colloquia as a visiting professor at institutions including: Cambridge, Oxford, Reading ICMA Center, Warwick and the London School of Economics in the U.K.; Stanford, UCLA, Berkeley, Chicago and MIT in the US; Bergamo and Venice in Italy; Toulouse and EDHEC in France; Tsukuba in Japan; and The National University and The National Technological University in Singapore. Dr. Ziemba’s current and past consulting in the private sector has included the Frank Russell Company, Morgan Stanley, Buchanan Partners, and Credit Suisse First Boston. His research focus is in asset-liability management, portfolio theory and practice, securities market imperfections, Japanese and Asian financial markets, sports and lottery investments and applied stochastic programming. Dr. Ziemba’s curriculum vitae is available and a complete list of his books and publications can be found at www.williamtziemba.com.
John Michael Connor, Sr. Associated Person/Principal has over 30 years’ experience in the commodity markets beginning as a principal of a commodity trading advisor in June 1980. From 1982 to 1989, he was a registered floor broker and member of the Chicago Mercantile exchange handling trading for customer accounts and proprietary accounts of several CME clearing firms. He has produced market letters and market price information primarily oriented towards professional traders. Since February 2012, he has been an associated person of Cunningham Commodities, LLC, a futures commission merchant. Mr. Connor has made frequent guest appearances on several television and radio financial talk shows and conducted trading seminars and workshops. A 1971 graduate of Indiana State University, Mr. Connor had a career as a journalist, working on a financial desk and as a general assignment reporter for major metropolitan newspapers.
William D Anthony, Counsel and Corporate Secretary is a Chicago lawyer with over 30 years’ experience, including representing business and individuals in corporate transactions, regulatory compliance, and litigation in securities, futures, intellectual property and a variety of commercial cases. Bill has represented securities and commodity investors, brokerage firms and financial advisors in investor lawsuits and has represented bankruptcy trustees in adversary cases. He has also represented investors and financial institutions in real estate property tax matters and investment funds in tax deeds.
Mr. Anthony began his career in 1980 with the Commodity Futures Trading Commission in Washington, DC, then the National Futures Association in Chicago and has been a principal of proprietary trading companies in equities, futures and foreign exchange. Mr. Anthony has a B.S. (Economics) from the University of Illinois-Urbana-Champaign, and J.D. (Law) and M.A., (economics) and M.A., (public policy and administration) at the University of Wisconsin-Madison.
Kristopher Gaytko, Senior Associated Person has been involved with the futures, forex and equity markets for the past 16 years. After earning his BBA in Finance and International Business with honors from Loyola University Chicago in 2002, he began clerking at the Chicago Board of Trade for Refco Capital Markets on the grain floor, then as an assistant dealer on Refco’s FX desk (2002-2005) and went on to work in business development and trading in other commodity brokerages including MF Global (2005-2007), FIXI PLC London (2011-2012) and Institutional Liquidity LLC (2012-2013). Mr. Gaytko has also spent several years marketing equity trading strategy products with a Chicago investment research firm.
Constantine Dzhabarov, Senior Research Associate and Trader has collaborated with Dr. Ziemba in both research and publication. Mr. Dzhabarov trades options, futures and equities electronically under the direction of Dr. Ziemba and conducts risk analysis of trading portfolios. Constantine’s professional experience is in financial markets research and data collection. He ran a trading desk and developed risk management controls for Alpha Lake Financial Analytics Corp in Vancouver, BC. Constantine is fluent in English, Russian and Ukrainian. He studied mathematics at Moscow State University and received a BA in Philology from Kiev State University in Kiev, Ukraine. He earned an MBA (honors) from Atkinson School of Management in Salem, OR and took relevant investment course work at CSI in Vancouver, BC.