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Michael S. Rulle, Jr. is the Founder and CEO of MSR Investments, LLC. Prior to founding MSR in 2008, Mr. Rulle was President of Graham Capital Management from 2002 to 2007. While at Graham, Mr. Rulle chaired the Investment and Risk Committee and was directly responsible for the firm’s discretionary portfolio managers. Additionally, as part of the senior management team, he also worked closely with the firm’s quantitative research group. During his tenure, Graham’s total assets under management grew from $1 billion to $8 billion. From 1999–2002, Michael was President and CIO of Hamilton Partners, an internal $400 million “hedge fund” for the Bermuda reinsurance company, Stockton Inc., where he managed convertible arbitrage, merger arbitrage, volatility arbitrage, bond arbitrage and equity market neutral portfolios. From 1994-1999, Mr. Rulle was CEO of CIBC World Markets Inc. where he was primarily responsible for global derivatives, securitization, asset management and the U.S. loan business. He co-chaired CIBC World Market’s Global Risk Committee and was a member of the global bank’s Credit Committee. Prior to joining CIBC, Michael ran the derivatives business at Lehman Brothers and rose to become a member of the Executive Committee. While at Lehman, Mr. Rulle was one of the original representatives to the International Swaps Dealer Association (ISDA). Mr. Rulle received a BA from Hobart College and an MBA from Columbia Business School, where he graduated first in his class.
This blog post was co-authored with Matthew Brown, President and COO, MSR Investments, LLC. We believe there are two critical criteria an index must meet to be considered a benchmark: 1) it must be easy to implement as a viable investment alternative to managers that pursue the same strategy, and 2) it must define only…
