Word: larson
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Dates: during 2000-2009
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...year veteran of HMC, Larson delivered 11.6 percent average annual gains in his section of the Company’s portfolio for the five years prior to his departure, blowing past the 4.1 percent benchmark for his asset class, according to the Boston Globe...
...Larson left HMC in 2004 with a $500 million initial investment from Harvard to start his own hedge fund, Sowood Capital Management. But Sowood collapsed in 2007 due to heavily leveraged investments in corporate debt—making national headlines as one of the first high-profile hedge fund implosions of the subprime mortgage crisis—costing Harvard $350 million...
...Mack stresses that she has nothing personal against Larson and that he was a very adept stock trader, but that he “had no background to be trading derivatives...
...Larson could not be reached by phone for comment at his Wellesley home over the past week...
...part, Larson appears to have adopted a more conservative investing approach. Last May, he was widely reported to have plans for a new firm to manage what marketing documents obtained by Reuters billed as a less risky, “limited leverage, value driven portfolio...