Chi-fu Huang
Chi-fu Huang | |
|---|---|
| Born | 1955 Taiwan |
| Occupation(s) | Entrepreneur, economist, former hedge fund executive |
| Years active | 1983–present |
| Known for | Co-founder and CEO of Platinum Grove Asset Management; contributions to financial economics |
Chi-fu Huang (; born 1955) is a Taiwanese entrepreneur, former hedge fund executive, and economist. His influential work in financial economics encompasses dynamic general equilibrium models, intertemporal utility frameworks, and the analysis of individual consumption along with portfolio selection.
Huang holds a managing membership at CMASH, LLC and participates on the Management Committee of Starling Ventures LLC. He also serves on the boards of DeepMacro and 9M Technologies and owns numbersgamewines.com. Additionally, he provides advisory support to the Dean of the School of Sciences at the Massachusetts Institute of Technology.
Early life and education
Huang completed his undergraduate studies in economics at National Taiwan University in 1977. He then earned a doctorate in financial economics from Stanford University in 1983. From 1983 until 1994, he was part of the faculty at the MIT Sloan School of Management, where he held the J.C. Penney Professorship in Finance before departing MIT in 1994.
Career
In 1999, Huang co-established Platinum Grove Asset Management L.P. (PGAM) alongside Myron Scholes. He led the firm as CEO and CIO until 2009 and subsequently served as Non-Executive Chairman until 2013. During his tenure, PGAM grew to become one of the foremost fixed income relative value hedge funds.
Prior to founding PGAM, Huang was Partner and Co-Head of LTCM’s Asia division based in Tokyo from 1997 to 1999. LTCM encountered substantial financial setbacks amid the 1997 Asian Financial Crisis and the 1998 Russian Financial Crisis, culminating in a $3.6 billion rescue orchestrated by the Federal Reserve Bank of New York. Huang and Scholes departed LTCM to form PGAM before LTCM’s collapse in 2000. Earlier in his career, from 1993 to 1994, Huang led Fixed Income Derivatives Research at Goldman Sachs.
Huang has contributed editorial expertise as editor of the Review of Financial Studies and as associate editor for several academic journals including Journal of Economic Theory, Journal of Financial and Quantitative Analysis, Mathematical Finance, and Journal of Mathematical Economics. He has published over thirty scholarly articles and co-authored the graduate-level textbook Foundations for Financial Economics (Prentice Hall, 1988) with Robert H. Litzenberger.
Research
His scholarly investigations emphasize dynamic general equilibrium theory. Huang’s advancements in utility theory have permitted models to incorporate intricate individual preference structures that were previously difficult to formalize. Furthermore, he has enhanced auction theory applications within financial markets by examining price formation when assets are acquired primarily for resale purposes rather than personal consumption.