Larry Hite
Encyclopedia
Lawrence D. Hite is a hedge fund
manager, who, along with Ed Seykota
, is one of the forefathers of system trading. He has been profiled and recognized as one of the best in the industry in numerous major international publications, and, in 1986, BusinessWeek
awarded Hite its annual Best of Award.
in the world in terms of assets under management
. Mint’s achievements won Hite and his team industry wide acclaim, and in 1990 Jack Schwager dedicated a chapter of his bestselling book, Market Wizards, to Hite's trading and risk management philosophy. In 1990, he began adding systematic trading of equity markets to the Mint managed futures portfolio.
During this time, Larry also formed a partnership with the Man Group
and pioneered the principal protected fund concept, leading to a number of successful structured products and financial engineering innovations.
In 2000, after more than three decades of success, Hite chose to focus on his family office
activities, which included proprietary trading
and the funding of continued research and development in the field of systematic trading, his lifelong passion. Joined by former members of the original Mint team, Hite formed Hite Capital Management.
In that same year, Hite also became a principal investor and chairman of Metropolitan Venture Partners, a venture capital firm specializing in technology-based firms. He maintains that position to date.
As of 2010, Hite partnered with International Standard Asset Management (ISAM) to create a multi-strategy platform of liquid hedge fund strategies as well as a fund of managed accounts.
Throughout his career, Hite has been an active participant in numerous philanthropic organizations, and following his early success at Mint, he founded his own charitable enterprise, The Hite Foundation, where he continues to act as Chairman. Additionally, he serves as Chairman of the Development Committee for the Institute of International Education
’s Scholar Rescue Fund, whose goal is to provide safe haven for academics and professionals who are at risk throughout the world.
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
manager, who, along with Ed Seykota
Ed Seykota
Edward Arthur Seykota is a commodities trader, who earned S.B. degrees in Electrical Engineering from MIT and Management from the MIT Sloan School of Management, both in 1969. In 1970 he pioneered Systems trading by using early punched card computers to test ideas on trading the markets...
, is one of the forefathers of system trading. He has been profiled and recognized as one of the best in the industry in numerous major international publications, and, in 1986, BusinessWeek
BusinessWeek
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
awarded Hite its annual Best of Award.
Career
Lawrence Hite co-founded Mint Investments in 1981. By 1990, Mint had become the largest Commodity Trading AdvisorCommodity trading advisor
A commodity trading advisor is an asset manager who follows a set of systematic investment strategies in futures contracts and options on futures contracts. The advisors originally operated predominantly in commodities markets, but today they invest in any liquid futures market. They are...
in the world in terms of assets under management
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
. Mint’s achievements won Hite and his team industry wide acclaim, and in 1990 Jack Schwager dedicated a chapter of his bestselling book, Market Wizards, to Hite's trading and risk management philosophy. In 1990, he began adding systematic trading of equity markets to the Mint managed futures portfolio.
During this time, Larry also formed a partnership with the Man Group
Man Group
Man Group plc is a British alternative investment management business. It provides a range of funds for institutional and private investors globally. The company manages about US$68 billion and employs around 1,700 people in 15 locations worldwide.Man’s headquarters are at Riverbank House...
and pioneered the principal protected fund concept, leading to a number of successful structured products and financial engineering innovations.
In 2000, after more than three decades of success, Hite chose to focus on his family office
Family office
A family office is a private company that manages investments and trusts for a single wealthy family. The company's financial capital is the family's own wealth, often accumulated over many family generations. Traditional family offices provide personal services such as managing household staff and...
activities, which included proprietary trading
Proprietary trading
Proprietary trading occurs when a firm trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments, with the firm's own money as opposed to its customers' money, so as to make a profit for itself...
and the funding of continued research and development in the field of systematic trading, his lifelong passion. Joined by former members of the original Mint team, Hite formed Hite Capital Management.
In that same year, Hite also became a principal investor and chairman of Metropolitan Venture Partners, a venture capital firm specializing in technology-based firms. He maintains that position to date.
As of 2010, Hite partnered with International Standard Asset Management (ISAM) to create a multi-strategy platform of liquid hedge fund strategies as well as a fund of managed accounts.
Throughout his career, Hite has been an active participant in numerous philanthropic organizations, and following his early success at Mint, he founded his own charitable enterprise, The Hite Foundation, where he continues to act as Chairman. Additionally, he serves as Chairman of the Development Committee for the Institute of International Education
Institute of International Education
Institute of International Education - is a non-profit organization promoting international exchange of education and training. It was established in 1919 and is based in the USA....
’s Scholar Rescue Fund, whose goal is to provide safe haven for academics and professionals who are at risk throughout the world.