GARP Chapter Meeting at CFEM to Feature Talk on Buffett and Derivatives
Cornell's new chapter of the Global Association of Risk Professionals (GARP) will hold its first meeting at Cornell Financial Engineering Manhattan (CFEM), at 6 PM on September 30, 2010. The featured speaker is Doug Dachille, CEO and co-founder of First Principles Capital Management.
Dachille, who previously headed Zurich Capital Markets, Inc., will speak on "An Analysis of Warren Buffett's Love Hate Relationship with Derivatives." While Buffett has famously called derivatives "weapons of financial destruction," his company, Berkshire Hathaway, has a derivative portfolio in the billions.
Beginning in 1991, Dachille was responsible for building the Hybrid Derivatives business for J.P. Morgan, a predecessor to JPMorgan Chase. He was a member of the J.P. Morgan Management Committee and responsible for building the "Global Relative Value Proprietary Trading" business. He is frequently called upon by the financial press to comment on the economy and developments in the fixed income markets, has had Op Eds published in financial journals, and is a regular radio and television guest.
Attendance at the meeting is open to the public, but registration through CFEM is required and seating is limited. The session will conclude with a reception that provides an opportunity network with ORIE's Financial Engineering students, many of whom are in the third, final semester of their Master of Engineering program.
CFEM director Victoria Averbukh, who organized the meeting, said "we are excited that Mr. Dachille accepted CFEM's invitation. This event is one of the best examples of what we do for Cornell's students: bringing practitioners into the classroom and broadening student understanding of financial securities. It is great to do this under the auspices of our new GARP chapter, since many of our students are interested in risk management. We hope they will also benefit from the interaction with risk management professionals during the program and at the reception."
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