Pete Muller (businessman and singer-songwriter)

Pete Muller
Residence Santa Barbara, California
Nationality United States
Alma mater Princeton University
Occupation Hedge fund manager, singer-songwriter
Known for Founder of PDT Partners
Spouse(s) Jillian Muller

Pete Muller is an American hedge fund manager and quantitative trader who founded PDT Partners in 1993 as part of Morgan Stanley's trading division, which spun out as an independent business in 2012. He was described by Bloomberg.com as an "unlikely executive", a 47-year-old math wizard, and a person with diverse intellectual interests and hobbies. Muller is also a singer-songwriter who has recorded and released three studio albums.[1]

Early life and education

Muller grew up in Wayne, New Jersey.[2][3] His father was a chemical engineer and his mother a psychiatrist. At Wayne Valley High School, he was captain of the Frisbee and Quiz Bowl clubs and was part the Model UN, German club, and the Honor Society.[4]

Muller graduated in mathematics with honors from Princeton University, where he also played Ultimate Frisbee and was a member of the Colonial Club.[5] After graduating from Princeton, he moved to northern California to play music for rhythmic gymnasts.[3]

Professional career

Muller began working at Barra Inc., a quantitative firm In Berkeley, California. While at Barra, he created the Barra Brainteaser, a monthly investment-related puzzle. After doing contract work as a Barra representative for Renaissance Technologies, he was offered a job at Renaissance, but turned it down because his belief in the efficient market hypothesis made him skeptical of Renaissance's claimed high rate of return. In 1992, he proposed using Barra’s quantitative techniques to forecast returns rather than just model risk, so that Barra could manage money itself. His proposal was rejected, and he joined Morgan Stanley in 1992, where he created its Process Driven Trading group.[5][2] Muller is also a founding board member of Math for America.[6]

Muller founded PDT (Process Driven Trading) Partners inside Morgan Stanley in 1993 and serves as Founder and CEO. PDT has offices in New York and London and has returned 20% on average annually through 2010.[7][3]

Muller was ranked 17th on Forbes Highest-Earning Hedge Fund Managers in 2017 with $200 million in 2016.[8]

Musical career

Muller is also a singer/songwriter, having recorded three albums[9] playing the grand piano, and making appearances at music gatherings, such as Montreux Jazz Festival in Switzerland, and the Jazz Open in Stuttgart, Germany.[10] In the early stages of his music career, Muller played the electronic keyboard in New York subways.[3][5]

Muller is a Berklee College of Music Trustee.[11] In September 2017, with the support of the New York City Mayor’s Office of Media and Entertainment and the Economic Development Corporation, Muller spearheaded Berklee’s acquisition of Avatar Studios, also known as The Power Station,[12] which gained renown as one of the finest acoustic environments for recording in the world.[13]

Personal life

Muller is married to his wife Jillian and together they have two children.[14]

Muller practices vinyasa yoga, snowboards, and surfs. He also writes crossword puzzles for the New York Times occasionally throughout the year[3] and holds monthly crossword contests. In 1998, Muller made the final table of the $3,000 Limit Hold 'em event at the World Series of Poker and came in 4th at the World Poker Challenge.[15]

References

  1. ↑ "Quant Hedge Fund Manager Pete Muller's New Music Video And Album". Forbes. Retrieved 23 October 2017.
  2. 1 2 Teitelbaum, Richard (July 6, 2011). "Morgan Stanley Yoga-Troubadour-Crossword-Math Pro Muller Flees". Bloomberg.com. Retrieved July 20, 2017.
  3. 1 2 3 4 5 Levy, Rachael (October 27, 2016). "How a hedge fund legend took time out, busked on the New York subway, and found himself in the process". Business Insider. Retrieved 21 July 2017.
  4. ↑ ""This crossword puzzle writer and poker champ generating 20% returns; Investment News, July 7, 2011". Retrieved July 21, 2017.
  5. 1 2 3 Wachtel, Katya (July 7, 2011). "We've Never Been More In Awe Of Someone's Life Than We Are Of Quant Legend Pete Muller's". Business Insider. Retrieved 21 July 2017.
  6. ↑ "Peter Muller". Math for America. Retrieved August 1, 2014.
  7. ↑ "PDT Partners History". PDT Partners. PDT Partners. Retrieved 21 July 2017.
  8. ↑ "Highest-Earning Hedge Fund Managers 2017". Forbes. Retrieved 25 July 2017.
  9. ↑ "Official Page of Pete Muller Singer Songwriter". Retrieved 23 October 2017.
  10. ↑ Levy, Rachael (July 10, 2017). "The founder of a $5 billion hedge fund just kicked off a summer music tour". Business Insider. Retrieved 23 October 2017.
  11. ↑ "Berklee College of Music: Trustees". Retrieved 23 October 2017.
  12. ↑ Light, Alan (September 5, 2017). "Power Station, Storied Manhattan Recording Studio, to Be Revived". Retrieved 23 October 2017.
  13. ↑ Noto, Anthony (October 14, 2015). "What will become of this legendary Manhattan music studio?". New York Business Journal. Retrieved 23 October 2017.
  14. ↑ "Peter Muller". Berklee. Berklee. Retrieved 21 July 2017.
  15. ↑ "World Poker Tour: Tournament Info". Retrieved 23 October 2017.
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