For the first six months after Michael Wang joined hedge fund firm SAC Capital Advisors in 2007, his boss wouldnt let him pick a long stock. All of Wangs trading ideas had to be shorts. This discipline gave Wang, who came to Stamford, Connecticutbased SAC after two years doing mergers and acquisitions at Citigroup in New York, a great ability to sell short.
Taiwan-born Wang, 33, was three when he and his family moved to Southern California. In Taiwan his father had been an engineering professor and his mother had taught English, but in the U.S. they made their living by trading stocks and invested in real estate. That early exposure to the market kick-started Wangs own interest: He became president of his high school investing club before heading east to attend New York Universitys Stern School of Business, where he majored in finance with a minor in psychology.
Wang stayed at SAC until 2012, when Jason Karp, a former portfolio manager with the firm, recruited him to join Karps new outfit, New Yorkbased long-short equity hedge fund Tourbillon Capital Partners. As day-one employee and a principal, Wang was contributing to Tourbillons success when an even more intriguing opportunity came his way: The Cypress Funds asked him to be portfolio manager and comanaging partner in the management company.
Los Angelesbased Cypress Funds might not be a household name, but its founder, and Wangs comanaging partner, certainly is. The grandson of Superior Oil Co. founder William Myron Keck, Robert Day launched the firm in 1969; two years later he founded Trust Co. of the West. Day, 72, sold TCW to French bank Société Générale in 2001. Although he remained TCW chairman, a role he gave up only in 2013, he was bound by a noncompete agreement, so Cypress Funds was unable to raise outside capital. He stepped down from TCW after deciding to relaunch his hedge fund, which he did in 2014. Wang took over as portfolio manager in May 2015. Despite challenging markets, the fund, which currently manages about $400 million, is off to a positive start, helped by Wangs short-selling prowess.
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Hedge Fund Rising Stars of 2016Click below to view profiles
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|Charles Dufresne Jr.Sciens Capital MgmtWilliam FredaGraticule Asset Mgmt AsiaSamantha GreenbergMargate CapitalMark GurevichRopes & GrayTal GurionMariner Glen Oaks|
|Craig HuieUniversity of CaliforniaYusef KassimBlue Harbour GroupFlorian KronawitterWhite Square CapitalVikram KumarTT InternationalBrandon LevinJana Partners|
|Jonathan LevinGeorge Weiss AssociatesBrett MinarikAksiaIan MonroeEtho CapitalJason MorrowUtah Retirement SystemsPierre-Adrien NicolasSquarepoint Capital|
|Jamie PabstGreen Owl Capital MgmtParag PandeBlackstone GroupAgata PraczukMetLifeMax SaffianFortress Investment GroupMatt SatnickMSD Partners|
|Eric SingerViex Capital AdvisorsKatina StefanovaMarto CapitalReginald TuckerNew York State Common Retirement FundMichael WangCypress FundsSean WygovskyPolar Asset Mgmt Partners|