Aaron C. Brown (born November 27, 1956) is an American finance practitioner, well known as an
author
An author is the writer of a book, article, play, mostly written work. A broader definition of the word "author" states:
"''An author is "the person who originated or gave existence to anything" and whose authorship determines responsibility f ...
[Stephen Schurr,Gamblers Profit from Holding a Strong Hand]
, Financial Times, March 20, 2006 on
risk management and gambling-related issues. He also speaks frequently at professional and academic conferences. He was
Chief Risk Manager at
AQR Capital Management. He was one of the original developers of
value at risk
Value at risk (VaR) is a measure of the risk of loss for investments. It estimates how much a set of investments might lose (with a given probability), given normal market conditions, in a set time period such as a day. VaR is typically used by ...
and one of its strongest proponents.
[2011 Risk Manager of the Year: Aaron Brown](_blank)
GARP.
Biography
Brown was born in
Seattle, Washington
Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest region ...
.
[Adam Leitzes and Joshua Solan, Bulls, Bears and Brains: Investing with the Best and Brightest of the Financial Internet, John Wiley & Sons (2002), ] In college and graduate school he was a professional poker player
[David Penn, Aaron Brown: Poker Wizard of Wall Street]
, June 2008 and traded securities for his own account.
In 1982, Brown moved to New York and worked as a
portfolio manager (
Prudential Financial),
trader and head of
Mortgage Securities
A mortgage-backed security (MBS) is a type of asset-backed security (an 'instrument') which is secured by a mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment ba ...
(Lepercq, de Neuflize),
risk manager
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environme ...
(
JPMorgan Chase
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...
,
Rabobank
Rabobank (; full name: ''Coöperatieve Rabobank U.A.'') is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands. The group comprises 89 local Dutch Rabobanks (2019), a central organisation (Raboban ...
,
Citigroup,
Morgan Stanley
Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...
and
AQR Capital Management) and lectured at
Fordham and
Yeshiva
A yeshiva (; he, ישיבה, , sitting; pl. , or ) is a traditional Jewish educational institution focused on the study of Rabbinic literature, primarily the Talmud and halacha (Jewish law), while Torah and Jewish philosophy are st ...
universities.
Brown was named Risk Manager of the Year at the
Global Association of Risk Professionals' annual convention in 2012. He was voted Financial Educator of the Year by the readers of Wilmott Magazine and
his website received several
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
Best of the Web awards for Theory and Practice of Investing.
[Biography](_blank)
PRMIA
The Professional Risk Managers' International Association (PRMIA) is a non-profit, member-driven professional organization that focuses on the development and education of the risk management profession. Its membership provides a network of risk ...
.
Brown holds an
SB in
applied mathematics
Applied mathematics is the application of mathematical methods by different fields such as physics, engineering, medicine, biology, finance, business, computer science, and industry. Thus, applied mathematics is a combination of mathemati ...
from
Harvard University
Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of high ...
(1978), and an
MBA
A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...
in finance and statistics from the
University of Chicago
The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private university, private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park, Chicago, Hyde Park neighborhood. The University of Chic ...
(1984).
Works
Brown is the author of ''Financial Risk Management for Dummies'',
[Brown, Aaron C.]
Financial Risk Management For Dummies
(John Wiley & Sons, 2015), ''Red-Blooded Risk: The Secret History of Wall Street'',
[Brown, Aaron C]
John Wiley & Sons (2012)'' The Poker Face of Wall Street''
[Aaron Brown, The Poker Face of Wall Street, John Wiley & Sons (2006), ] and ''A World of Chance''
[Reuven and Gabrielle Brenner, and Aaron Brown, A World of Chance: Betting on Religion, Games, Wall Street, Cambridge University Press (2008), ] (with
Reuven and Gabrielle Brenner).
He has also written for ''
Wilmott Magazine'' and ''Quantum Magazine''; he is a frequent contributor to the
professional literature.
The ''Poker Face of Wall Street'' was selected one of the ten best business books of 2006 by ''
Business Week''.
See also
*
Scott Patterson's ''
The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It'' (Crown Business, 2010) contains extensive accounts of Aaron Brown's career.
References
External links
ERaider.com personal website
Forewordto ''The Poker Face of Wall Street'' by
N. N. Taleb (pdf)
Bloomberg.com "Morgan Stanley's Aaron Brown Plays Poker on the Trading Floor"
GARP.com "2011 Risk Manager of the Year: Aaron Brown"
{{DEFAULTSORT:Brown, Aaron
1956 births
Living people
American financial analysts
American hedge fund managers
American investors
American money managers
American stock traders
Harvard University alumni
Writers from Seattle
University of Chicago Booth School of Business alumni