Mark Strome

I just read an interesting essay on how strategies/products you focus on in global macro should consistently be changing in order to find the largest trend with a good risk/reward ratio. The essay was by a hedge fund manager named Mark Strome, who after a few google searches, turns out to be an LA hedge fund manager who killed it in the early 90s, reportedly getting better returns than Soros or Steinhardt in '93. He seems to have completely fallen off the map though, so I was wondering if anyone could shed some light on whether he is still running money and what kind of style of global macro he used to/is runnning (is his background in commodities, FI, equities.. etc?). I know he worked at Kayne Anderson for a bit but that's about it.

Thanks for any info you have.

 
Best Response

A quick CapIQ search ultimately led me to this site:

http://strome.com/

It's the same guy, here's his profile on CapIQ:

CapitalIQ.com:

Mr. Mark Eugene Strome is the Founder, Chief Investment Officer, and Chairman at Strome Investment Management, L.P. He founded Strome Investment Management and Strome Securities L.P. in 1992. Mr. Strome is the Founder and primary stockholder of securities brokerage company and investment management company and is responsible for raising and managing $1.4 billion in private placement hedge fund investments focusing on non-traditional investments including commodities, currencies, bankruptcy reorganizations, and venture capital and private equity investments. Prior to founding Strome Investment Management, he was a Portfolio Manager at Kayne Anderson. He is a Director at Endurance Ventures. Mr. Strome is a Member of the Board of Directors of National Water and Power, Eco-Duro Corporation, and Mobil Satellite Ventures. In addition to serving on the Old Dominion University’s Board of Visitors, he is also a Trustee for New Roads School, Big Bear Foundation, and on the Board of Advisors of John Hopkins Medical Center. Mr. Strome has been a frequent guest at investment speaking forums and has featured in number publications including the Wall Street Journal, Barrons, Forbes, and others. He holds a B.S. in Engineering from Old Dominion University in 1978, an M.S. in Economics in 1980 from the University of California at Berkeley, and was the honorary Doctor of Science in 1998 from Old Dominion University.

"If you can count your money, you don't have a billion dollars." - J. Paul Getty
 

A rather amazing story:

http://www.hopkinsmedicine.org/hmn/w06/medical.cfm#8

Mark Strome felt like one lucky guy as he drove his silver Maserati toward his mother's birthday party in June 1999. Every financial publication had recently touted his skill in creating one of the world's most successful hedge funds. But on that June morning, the Los Angeles financier got the first signal that his future may have hit a roadblock—a nosebleed that wouldn't stop. Skipping the party, Strome drove straight to his physician, who cauterized his nose. When the bleeding kept on, the doctor ordered tests and found that Strome's platelet count was 1,000 out of a normal 200,000. “Go immediately to the hospital,” he directed. “And don't bump your head or you'll die.” A week later, Strome learned he had severe aplastic anemia (SAA), an amazingly rare disease in which the body's immune system renders the stem cells incapable of producing red and white blood cells and platelets. Death usually comes in one to two years. Strome's LA hematologist suggested standard treatments—bone marrow transplant or the “gold-standard” drug, ATG (antithymocyte globulin). In Strome's case, no suitable donor appeared for him to have a bone marrow transplant, so he went on the drug. But ATG leaves patients wide open to side effects like infection, hormonal imbalance and osteoporosis. Up to half also have a relapse or develop some type of malignant blood disease. Strome followed the script. First, he improved and then the SAA came back. By August 2000, he'd run out of options. And at that crucial moment, a psychiatrist friend surfing the Web discovered Rob Brodsky. Brodsky, a 44-year-old Johns Hopkins hematologist, has been achieving extraordinary results with SAA patients by treating them with a novel protocol. First, he gives them massive doses of the immunosuppressant cyclophosphamide, which stuns the bone marrow and sends already low blood counts plummeting to zero. Then, he waits as patients' decimated immune systems miraculously begin “rebooting” and return to what Brodsky describes as a “healthy, virgin state, like that of a newborn child.” Once that happens, the person's chance of developing SAA again becomes remote. Two weeks later, Strome was in Brodsky's office hearing that the likelihood he could be cured was about 70 percent. But he would need to endure 12-hour days of drug infusions plus debilitating side effects. His treatments began the next week, followed by terrible nausea and a lung infection. But by Halloween of 2000, Mark Strome was back in LA, working out five times a week. Today, he is completely healthy. Since then, Strome has donated $2 million to Brodsky's SAA research. “I used to be the Lone Ranger,” Strome says. “I thought I could solve everything by myself. Now, I'm alive, but the Lone Ranger is dead.”

 

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