François-Serge Lhabitant
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François-Serge Lhabitant is with a European family office where he directly oversees a multi-billion portfolio allocated primarily to hedge funds, private and public markets, and risk-controlled strategies. His portfolio has received several awards for its performance and risk-adjusted performance. François-Serge is a visiting professor of finance at the
Hong Kong University of Science and Technology The Hong Kong University of Science and Technology (HKUST) is a public research university in Clear Water Bay Peninsula, New Territories, Hong Kong. Founded in 1991 by the British Hong Kong Government, it was the territory's third institution ...
. He was a member of several advisory boards for large hedge funds active in the areas of credit and distressed securities. He was formerly a professor of finance at the
Edhec EDHEC Business School (french: Ecole des Hautes Etudes Commerciales du Nord) is a French grandes écoles business school with campus locations in: Lille, France; Nice, France; Paris, France; London, UK; and Singapore. EDHEC offers its flagship M ...
Business School, at HEC Lausanne and at the
Thunderbird School of Global Management Thunderbird School of Global Management at Arizona State University (or simply Thunderbird) is a global management school in Phoenix, Arizona. Founded in 1946 as an independent, private institution, it was acquired by Arizona State University ( ...
. François-Serge is the author of several books and research papers on hedge funds, emerging markets and the modeling of interest rate contingent claims. He was a member of the European advisory board of the
International Association of Financial Engineers The International Association for Quantitative Finance (IAQF), formerly the International Association of Financial Engineers (IAFE), is a non-profit professional society dedicated to fostering the fields of quantitative finance and financial engin ...
(IAFE), of the Alternative Investment Management Association (AIMA) Investor Steering Committee, and of the Scientific Committee of the Autorité des Marchés Financiers, the French financial markets regulatory body. He is also an acclaimed expert in
Ukrainian cuisine Ukrainian cuisine is the collection of the various cooking traditions of the people of Ukraine, one of the largest and most populous European countries. It is heavily influenced by the rich dark soil (''chernozem'') from which its ingredients ...
. François-Serge has been researching
hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...
s since 1994 and is considered a specialist in
alternative investments An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such a ...
, known globally for his work on
hedge funds A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as shor ...
and
emerging markets An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were ...
. In a
Opalesque.TV
interview, François-Serge discusses the history of academic research in studying hedge funds. His greatest research contribution to the study of hedge funds came with EDHEC and focused on the risk dimension of alternative investments, and as a result of the risk dimension the asset allocation dimension. His research leads to conclusions of how to control the risk of a hedge fund portfolio, what are the key risk factors to analyse, and also how should you allocate to hedge fund both from strategic long-term perspective, and also a short-term tactical one. He teaches his students a practical approach to understanding alternative investments along with a theoretical one, having them run a simulated version of a hedge fund to learn practical lessons, particularly from hedge funds and trades that blew up in the last decade. His own investment portfolio management philosophy is to focus on the downside risk rather than the upside. Professor Lhabitant also says that the hedge fund world is getting riskier due to two factors. The first is the huge political risk in Europe and the US against hedge funds and financial strategies in general. These mounting political pressures pose a huge threat to development. The second is the transition since 2008 from a market crisis, to a
liquidity crisis In financial economics, a liquidity crisis is an acute shortage of ''liquidity''. Liquidity may refer to market liquidity (the ease with which an asset can be converted into a liquid medium, e.g. cash), funding liquidity (the ease with which borrowe ...
, and now shifting to state solvency crisis, where the economies of several countries are on the brink of failure should interest rates and credit spreads rise. He says that these solvency and inflation risks brought on by massive debt are likely not captured and assessed correctly in the investment strategies of many hedge funds. François-Serge Lhabitant obtained a
Ph.D. A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is a ...
in Finance (1998), a Master of Science in Banking and Finance (1994) and
Bachelor of Science A Bachelor of Science (BS, BSc, SB, or ScB; from the Latin ') is a bachelor's degree awarded for programs that generally last three to five years. The first university to admit a student to the degree of Bachelor of Science was the University of ...
in Economics (1993) at HEC,
Lausanne , neighboring_municipalities= Bottens, Bretigny-sur-Morrens, Chavannes-près-Renens, Cheseaux-sur-Lausanne, Crissier, Cugy, Écublens, Épalinges, Évian-les-Bains (FR-74), Froideville, Jouxtens-Mézery, Le Mont-sur-Lausanne, Lugrin (FR-74), ...
. He also holds a Computer Engineer Degree (1989) from the
École Polytechnique Fédérale de Lausanne École may refer to: * an elementary school in the French educational stages normally followed by secondary education establishments (collège and lycée) * École (river), a tributary of the Seine flowing in région Île-de-France * École, Savoi ...
and an LL.M. in Tax law (2015) from the
University of Geneva The University of Geneva (French: ''Université de Genève'') is a public research university located in Geneva, Switzerland. It was founded in 1559 by John Calvin as a theological seminary. It remained focused on theology until the 17th centu ...
.


Books

*Hedge Funds: Myths and Limits, March 2002 at John Wiley & Sons, London, , 280 pages. *Doing Business in Emerging Europe, March 2003 at Palgrave Macmillan, (co-authored with Y. Zoubir), 240 pages. *Hedge Funds: Quantitative Insights, June 2004, at John Wiley & Sons, London, , 384 pages. *La gestion alternative, June 2004, at Editions Dunod, Paris, , 302 pages. *Commodity Trading Advisors: Risk, Performance Analysis, and Selection, September 2004 at John Wiley & Sons, London, (co-edited with G. Gregoriou, V. Karavas and F. Rouah). *Hedge Funds: Mitos y límites. Fondos de inversión especulativos de alto riesgo, May 2006, at Ediciones Gestión 2000, Barcelona, , 407 pages (in Spanish) *Hedge Funds, May 2006, at Kais System, Seoul, , 282 pages (in Korean) *The Handbook of Hedge Funds, December 2006, at John Wiley and Sons, London, , 640 pages *Stock Market Liquidity: Implications for Market Microstructure and Asset Pricing, January 2008 at John Wiley and Sons, (co-edited with Greg Gregoriou), 528 pages. *Hedge funds: Origine, stratégies, performances, May 2008, at Editions Dunod, Paris, , 400 pages (in French) *Portfolio Diversification, September 2017, ISTE Press - Elsevier, ISBC: 978-1785481918, 274 pages.


External links

*http://www.lhabitant.net/ {{DEFAULTSORT:Lhabitant, Francois-Serge Year of birth missing (living people) Living people