This week, we spoke with Dan Chung, CEO and Chief Investment Officer of Alzar Management, which manages $ 35.3 billion in client assets. After graduating from Harvard Law Review, he served as Law Clerk for the Honorable Justice Anthony M. Kennedy of the United States Supreme Court. He is also the portfolio manager of several Alger strategies, including Spectra Fund, which runs $ 4.5 billion.
He explained how he was interested in building the business, rather than advising those who were running the business. He received multiple offers from major Wall Street firms, but moved to Alger Management after Fred Alger – the CEO and his father-in-law – disrespected the competition and their offer. He persuaded Chung to join Algar as an entry-level analyst, and eventually began to climb the ladder with outstanding performances.
Chung also explains the approach Alger has taken to enhance its investment performance: Quantitative growth focuses on sustainable technology trends, especially those that can enhance efficiency. The firm is also sensitive to valuations, growth is not always common among investors.
On September 11, Alger lost 35 people, including its CEO, and in their memory donated Alger 35 ETF. Chung discusses his experience with losses and how the firm has decided to put its “best ideas” into a single investment vehicle (ETFs and mutual funds) from each of its diversified strategies.
Here is a list of his current readings; A transcript of our conversation is available here Monday.
You can stream and download our entire conversation, including podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg and Acast. All our previous podcasts on your favorite pod host can be found here.
Be sure to check out our Business Masters next week with Mobius Capital’s Mark Mobius. Known as the “Godfather of Emerging Markets”, he was tapped by Sir John Templeton in 1987 to run the Templeton Emerging Markets, one of the world’s first EM funds. Over the next 30 years, he visited 112 countries, invested in 5,000+ companies, and traveled 1,000,000+ miles. It has helped Templeton Emerging Markets Group grow from $ 100 million in six markets to বিল 40 billion in 70 countries.
Current reading of Dan Chung
Committed By Viet Than Nguyen
American dirt By Jenin Cummins
On earth we are briefly gorgeous By Ocean Vuong