Mike Vranos
American hedge fund manager and philanthropist / From Wikipedia, the free encyclopedia
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Michael W. Vranos is an American hedge fund manager and philanthropist who in the 1990s was referred to by some as the "most powerful man on Wall Street."[1] In 1993, he reportedly earned $15 million from trading mortgage bonds.[2] Fortune Magazine once called him "one of the best bond traders on Wall Street."[3] According to a 2007 Wall Street Journal article, he has continued to be regarded as "the best-known mortgage-bond trader on Wall Street."[4]
Michael Vranos | |
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Born | |
Other names | Mike |
Education | B.A. in mathematics Harvard University, 1983 magna cum laude |
Occupation(s) | Hedge fund manager and bond trader |
Employer(s) | Kidder Peabody, Ellington Management Group |
Title | Founder, CEO |
Vranos headed collateralized mortgage obligation (CMO) trading in the early 1990s at Kidder Peabody at a time when that firm dominated the marketplace.[3] Seizing the opportunity created by a bear market, he left to start his own firm, Ellington Management Group, in late 1994.[3] That same year, Kidder Peabody fell on troubled times and was sold to PaineWebber.[5] In spite of being affected by fall-out from the Long-Term Capital Management debacle in 1998,[6] as of April 2004, Ellington had delivered a composite annualized return of 15.4%, after fees.[7]