Daniel J. Arbess

Daniel J. Arbess
Born (1961-01-23) January 23, 1961
Nationality American
Alma mater Osgoode Hall Law School
Harvard Law School
Organization Xerion Investments
Title Founder

Daniel J. Arbess is an investor and policy analyst recognized for his prescient calls on some of the largest developments of the past 30 years, including the economic transition toward markets from communism in Eastern Europe & China; the U.S. housing/financial crisis[1] and monetary policy-led market recovery; and the accelerating “virtualization” of our physical world, as part of the economic transition from manufacturing/services toward technology-led growth.[2]

Arbess has been professionally involved in global policy analysis, macro themes, structured finance and event-driven investment opportunities since beginning his professional career at White & Case in 1987.[3] As the youngest partner in that law firm's history, and eventually Head of its Global Privatization Group, he advised European and other emerging market governments on economic transition, industrial reorganization and negotiated privatization sales. He became an investment principal in 1995, launching what became the $3 Billion Xerion Hedge Funds with the backing of Paloma Partners in 2003, merging Xerion into Perella Weinberg Partners and becoming a partner of that firm in 2007. Among other of Xerion's notable investments was in the distressed senior secured bank debt of Chrysler, which was the subject of a high profile negotiation with the White House during the early weeks of the Obama Administration, and ultimately an appeal to the U.S. Supreme Court.[4][5]

The Xerion Funds targeted transformative corporate events (such as financial restructuring and M & A), pivotal business trends, and changes in government policy affecting the macro environment, generating 12-year net returns of +240% (12.5% annualized) from 2003 through November 2014, including +112% (21% annualized) without a single down year through the four years of financial crisis and early recovery (’07-’10). Arbess' cautious technical and fundamental outlook for the economy and public market opportunities led him to return Xerion investor capital in late 2014, after having materially recovered losses from Xerion's one down year (2011), to focus on private investments.[6][7]


Arbess is a U.S. citizen, born in Montreal, Quebec, received a Bachelor of Laws from Osgoode Hall Law School in Toronto, and a Master of Laws from the Harvard Law School. He is a lifetime member of the Council on Foreign Relations, a member of the Atlantic Council and a frequent writer [8][9][10][11][12] and media commentator[13][14][15][16][17][18][19][20][21] on macro-economics, investing and global markets. He is also a co-Founder of No Labels, a U.S. political organization promoting collaboration across the political spectrum.[22][23][24][25][26]

Career

Arbess was born on January 23, 1961 in Montreal, Canada and is a United States citizen. He received an LLB from Osgoode Hall Law School in Toronto, and an LLM from the Harvard Law School. He was an affiliate at the John F. Kennedy School of Government,[27] developing an interest in East-West political and economic relations and the economic transition of the former-communist world.[28] During his law school years, he published on legal, political and moral aspects of nuclear weapons, arms control, and non-provocative defense strategies.[29][30][31][32][33][34] Arbess was present in the Parliament of the Supreme Soviet at the Kremlin in February 1987 with a group of prominent American arms control professionals and cultural figures, sitting near Andrei Sakharov, the Soviet nuclear physicist and dissident who had been released from exile weeks earlier,[35] when Mikhail Gorbachev unveiled Perestroika and Glasnost, the historic economic and political reforms that heralded the end of the Soviet Communist system.[36]

Arbess joined the international law firm White & Case in 1987, spent time in the firm's Stockholm office developing joint ventures in the Soviet Union in 1988-89, and was among the first Western lawyers on the ground in Eastern Europe after the fall of the Berlin Wall,[37][38] moving to Prague almost immediately following the 1989 Velvet Revolution to advise the Czechoslovak government on its economic transition, principally involving privatization policy and transactions.[39] In 1992, at 31, he became the youngest partner in the history of White & Case and Head of its Global Privatization Group, and was known as one of the leading practitioners of emerging markets restructuring and privatization during the early 1990s.[40] Among his advisory transactions included the restructuring of the Czechoslovak auto industry and sale of Skoda Auto to Volkswagen AG; and the restructuring and sale of the Czech downstream petrochemicals industry to a consortium of European international oil majors.[41]

Arbess has been a principal investor since 1995,[42] first pursuing restructuring-oriented private transactions in Europe. From 1998 through 2002, he co-founded, helped built the investment team, structure and raise $1.6 Billion in funds, and directly managed distressed corporate credit investments, for a New York-based structured credit asset management firm. He launched Xerion Capital Partners in 2003 with the backing of S. Donald Sussman and his Paloma Partners. Arbess merged Xerion with Perella Weinberg Partners and became a partner of that firm in 2007,[43] returning investor capital in late 2014, reflecting his view of public market risks relative to opportunities for the coming period, amicably separating from Perella Weinberg Partners to pursue private interests and investment opportunities through his private investment firm, Xerion Investments.

Arbess’ investment “edge” has been in recognizing as-yet-unpriced economic, policy, and industrial developments, and using valuation judgment, relationship networks and negotiation skills to capture them in multi-year investments, expressed with a broad range of corporate securities and macro instruments. Xerion’s hallmark thematic successes included capturing China’s economic transition to manufacturing, urbanization and ultimately toward consumption (which his Shake Hands With China strategy expressed for a decade with distressed U.S. credit and long/short global equities); the U.S. housing bubble and financial crisis (short mortgage CDOs and financial institutions’ equity); the post-crisis recovery and monetary policy-led reflation of U.S. credit and stock markets (long credit, equities and gold from 4Q ’08); the U.S. energy and downstream manufacturing renaissance (stressed and bankruptcy credit and equities); the rise of wireless media and online retailing (long/short equities); the decade-long restructuring and evolution of the U.S. airline industry (bankruptcy credit, equities); and the advent of Abenomics in Japan (JPY & equities). Arbess' most recent focus has been making private investments in the accelerating penetration of automated analysis and management of common physical processes.

References

  1. ↑ "The vultures take wing". The Economist. ISSN 0013-0613. Retrieved 2015-11-08.
  2. ↑ "The problems with U.S. leaders in the era of social media". Fortune. Retrieved 2015-11-08.
  3. ↑ "Magic Mountain". The New Yorker. Retrieved 2015-11-08.
  4. ↑ Kouwe, Zachery (2009-04-30). "The Lenders Obama Decided to Blame for Chrysler’s Fall". The New York Times. ISSN 0362-4331. Retrieved 2015-11-08.
  5. ↑ "Dan Arbess: to Chrysler from Skoda". www.institutionalinvestor.com. Retrieved 2015-11-08.
  6. ↑ Arbess, Daniel J. (January 28, 2015). "The Davos Consensus". Perella Weinberg Partners.
  7. ↑ "MOVES-Hedge fund manager Arbess leaves Perella Weinberg". World News. Retrieved 2015-11-08.
  8. ↑ Arbess, Daniel J. "Bring on the 'Helicopter Money'". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-11-08.
  9. ↑ "http://www.bloomberg.com/video/65705814-perella-weinberg-s-arbess-interview.html". Bloomberg.com. Retrieved 2015-11-08. External link in |title= (help)
  10. ↑ "Managing the debt crisis means rebalancing global consumption and leverage | Institutional Investor's Alpha". www.institutionalinvestorsalpha.com. Retrieved 2015-11-08.
  11. ↑ "How To Win In The New Economic Framework — Daniel Arbess". Institutionalinvestor.com. Retrieved 2015-11-08.
  12. ↑ "Global Conference 2013 Panel: When Past Performance Is a Guide: Using History to Make Sense of the Post-Crisis World". www.milkeninstitute.org. Retrieved 2015-11-08.
  13. ↑ "China Record Boosts Confidence This Is No Bubble: Daniel Arbess". BloombergView. 2011-10-10. Retrieved 2015-11-18.
  14. ↑ "Delivering Alpha: China, Bubble or Bonanza?". CNBC. Retrieved 2015-11-08.
  15. ↑ "Dec 8: Daniel Arbess discusses China and commodities - view from the markets - Markets & Investing Video - FT.com". Financial Times Video. Retrieved 2015-11-08.
  16. ↑ "'Embrace the Cliff'". CNBC. Retrieved 2015-11-08.
  17. ↑ "Deflation Is 'Persistent Risk': Money Manager". CNBC. Retrieved 2015-11-08.
  18. ↑ "2014 is a stock picker's market: Fund pro Arbess". CNBC. Retrieved 2015-11-08.
  19. ↑ "Why the Fed Needs to Act Now, Implement Dovish Hike". Bloomberg.com. Retrieved 2015-11-08.
  20. ↑ "How to Invest Amid China's Economic Slowdown". Bloomberg.com. Retrieved 2015-11-08.
  21. ↑ "China May Be Heading for a Big Crackup, or Maybe Not". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-11-10.
  22. ↑ "Huntsman, Arbess on Bipartisan `No Labels' Group". Bloomberg.com. Retrieved 2015-11-08.
  23. ↑ Arbess, Daniel J. "The Battle for the 2016 Middle Ground". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-11-08.
  24. ↑ "It Was Duty, Not a Poisoned Chalice". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-11-10.
  25. ↑ "Jihad & a Geopolitical G-X: Winning the War and Building the Peace | Center for Strategic and International Studies". csis.org. Retrieved 2016-02-23.
  26. ↑ Arbess, Daniel J. "The Young and the Economically Clueless". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-02-23.
  27. ↑ Arbess, Daniel J.; Moravcsik, Andrew M. (1988). "Lengthening the Fuse: No-First-Use and Disengagement" (PDF). In Nye, Jr., Joseph S. Fateful Visions: Avoiding Nuclear Catastrophe. Cambridge: Ballinger. pp. 68–91.
  28. ↑ Arbess, Daniel J.; Marlene Greenberg (13 March 1989). "Moscow's Puzzle Is How to Motivate the Soviet Worker". Los Angeles Times. Retrieved 17 January 2013.
  29. ↑ Daniel J. Arbess (1984). "The International Law of Conflict in Light of Contemporary Deterrence Strategies: Empty Promise or Meaningful Restraint?" (PDF) 30:1. McGill Law Journal: 89–142.
  30. ↑ Daniel J. Arbess; William Epstein (May 1985). "The Disarmament Role for the United Nations?". Bulletin of the Atomic Scientists: 26–28.
  31. ↑ Daniel J. Arbess (October 1985). "Star Wars and the Outer Space Law". Bulletin of the Atomic Scientists: 19–22.
  32. ↑ Daniel J. Arbess (1987). Reykjavik and Beyond: The Democrats and Strategic Policy. Harvard Law School.
  33. ↑ Daniel J. Arbess; Hal Harvey (1 June 1992). Alternative Security: Beyond the Controlled Arms Race. Farrar Straus & Giroux. ISBN 978-0-8090-8051-9.
  34. ↑ "Alternative Security". Context Institute. Retrieved 2015-11-08.
  35. ↑ "Gorbachev releases Sakharov from internal exile - Dec 19, 1986 - HISTORY.com". HISTORY.com. Retrieved 2015-11-18.
  36. ↑ "Russians weigh Gorbachev reforms that sank USSR 30 years on". Yahoo News. Retrieved 2015-11-18.
  37. ↑ "White & Case’s Man in Prague," The American Lawyer, March 1991.
  38. ↑ Karen Dillon (June 1992). "Infiltrating the East" (PDF). The American Lawyer.
  39. ↑ Echikson, William; Ricardo Sookdeo (17 October 1994). "Young Americans Go Abroad to Strike it Rich: From Budapest to Beijing, record numbers of ambitious entrepreneurs and pioneering professionals are staking claims--and finding rich rewards". Fortune. Retrieved 17 January 2013.
  40. ↑ "Prague’s Late Night Corporate Lawyer," Financial Times, June 12, 1995.
  41. ↑ Speizer, Irwin (25 August 2009). "Dan Arbess: to Chrysler from Skoda". Institutional Investor. Retrieved 17 January 2013.
  42. ↑ Weinstein, Michael M. (11 January 1998). "The Capitalist; Giving Russia The Business". The New York Times. p. 16. Retrieved 17 January 2013.
  43. ↑ Michael J. de la Merced (October 2, 2007). "Perella Weinberg acquires Xerion Capital amid credit market turmoil". The New York Times.

External links

This article is issued from Wikipedia - version of the Friday, May 06, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.