Lars Jaeger

Lars Jaeger (born 1969 in Heidelberg ) is a Swiss-German entrepreneur and author on the history, philosophy and importance of science and technological development, as well as on hedge funds , quantitative investing and risk management .

Life

Lars Jaeger studied physics and philosophy at the University of Bonn and the École Polytechnique in Paris and received his doctorate in 1997 in the field of theoretical physics at the Max Planck Institute for the Physics of Complex Systems in Dresden , where he also worked as a post-doc in the field of researched nonlinear dynamic systems. He was a partner at Partners Group for eight years before founding Alternative Beta Partners AG in 2010 . He is the co-founder of a hedge fund asset management company that merged with Partners Group in 2001 . Jaeger began his career in the financial industry as a quantitative researcher in Zurich.

Books and articles on the history and philosophy of science and technological development

In September 2014 Jaeger published “Die Naturwissenschaften - Eine Biographie”, which intends to open the history of scientific thought to a broad audience. His second book is called "Science and Spirituality" and was published in September 2016. It deals with the relationships and interactions between science and spiritual thinking. His book "Superpower Science - Our Future Between Heaven and Hell" deals with the technological future. Jaeger book from 2018 "The Second Quantum Revolution - From Spooks in the Microcosm to New Super Technologies" (2018) discusses the developments, possibilities and dangers of modern quantum technologies. His latest book "Daring More Future - How We All Benefit from Progress" is an examination of the impending technological upheavals that lead to what the author calls "The Human Crisis".

Jaeger publishes on its website on current topics from the natural sciences, technology, philosophy and spirituality.

Voice in the hedge fund industry

Jaeger comments on various topics from the financial sector, in particular on hedge funds, their sources of return and risk management for alternative investment strategies .

He was an early advocate for independent risk management, transparency and cost efficiency for hedge funds, and in 2000 he built a managed account platform for these investment vehicles. In 2003, he was the first (along with researchers Bill Fung and David Hsieh) to use the term alternative beta based on his investment experience and academic work , which is now recognized as an integral part of hedge fund returns ( increasingly referred to as "alternative risk premium"). Lars Jaeger's scientific work led to an industry-wide discussion about the return attributes of hedge funds, which, beginning in 2007, gave rise to numerous "hedge fund replication" products. These ultimately played an important role in the discussion about (too) high hedge fund fees.

Jaeger is the author of numerous scientific papers in academic journals. In 2005 he received the Martello Prize of the Journal of Alternative Investment for the "best work of the year" for his paper "Factor Modeling and Benchmarking of Hedge Funds: Can passive investments in hedge funds strategies deliver?".

Books

• Dare to see more of the future! - How we all benefit from progress
• The Second Quantum Revolution - From Spooks in the Microcosm to New Super Technologies (Springer, 2018); English: "The Second Quantum Revolution - From Entanglement to Quantum Computing and Other Super-Technologies"
• Superpower Science - Our Future Between Heaven and Hell (Random House Gütersloher Verlagshaus, 2017)
• Science and Spirituality - Two Paths to the Great Secrets Universe, Life, Spirit (Springer Spectrum, 2017)
• The Natural Sciences - A Biography (Springer Spectrum, 2015)
• Risk Management of Alternative Investment Strategies (Financial Times Prentice Hall, 2002)
• The New Generation of Risk Management for Hedge Funds and Private Equity (Euromoney, 2003)
• Through the Alpha Smokescreen: A guide to hedge fund return sources (Institutional Investors, 2005; second edition 2012)
• Alternative Beta Strategies and Hedge Fund Replication (Wiley, 2008)

Selected other publications

• Insurance-Linked Securities (ILS): How to construct an Investable Performance Benchmark, Journal of Alternative Investments, Fall 2011
• Insurance-Linked Securities (ILS): What Drives Their Returns ?, Journal of Alternative Investments, Fall 2010
• The Road to Hedge Fund Replication: The Very First Steps, Proceedings to the Karlsruhe Workshop in Econometrics: Risk Assessement: Decisions in Banking and Finance, Physica Verlag (2008)
• The new discussion: Replication of hedge fund strategies, AIMA Journal, Summer 2007
• Can Hedge Fund Returns Be Replicated Inexpensively ?, CFA Institute Conference Proceedings Quarterly, Summer 2007
• Factor Modeling and Benchmarking of Hedge Funds: Cab passive investments in hedge funds strategies deliver ?, Journal of Alternative Investments (2005); awarded with the Martello award "Best paper of the year"
• Sources of Hedge Fund returns, Handbuch Hedge Funds, Uhlenbruch Verlag (2004)
• Sources of Return for Hedge Funds and Managed Futures, The Capital Guide to Hedge Funds, published by ISIpublications (2004)
• The Significance of Liquidity and Transparency for Multi-Manager Portfolios of Alternative Investment Strategies, Fund of funds, Euromoney Publications (2003)
• Sources of Return for Hedge Funds and Managed Futures, AIMA Newsletter, September 2002
• "The Significance of Liquidity and Transparency for Multi-Manager Portfolios of Alternative Investment Strategies", published in S. Jaffer, Fund of Funds, Euromoney, 2002
• "Risk Management and Transparency in the Construction and Monitoring of a Fund of Hedge Funds Portfolio", Global Pension, July 2002
• "The sGFI Futures Index", Journal of Alternative Investments, Summer 2002
• "Risk Management for Multi-Manager Portfolios of Alternative Investment Strategies- Part II", Alternative Investment Quarterly (November 2001 and January 2002)
• "Transparency and liquidity needs of alternative investment strategies", IPE publications, November 2001
• "Risk Management for Multi-Manager Portfolios of Alternative Investment Strategies", AIMA Newsletter, April 2001
• "Experimental Verification of Noise Induced Attractor Deformation," Physical Review Letters, No. 82 (11), p. 2274, March 1999.
• "Improved Cost Function for Modeling of Noisy Chaotic Time Series," Physica D, No. 109, p. 59, November 1997.
• "New Results on Generating Partitions of Two-Dimensional Maps," Journal of Physics A, No. 30, p. L567, November 1997.
• "Homoclinic Tangencies and Non-Normal Jacobians - Effects of Noise in Non-Hyperbolic Chaotic Systems," Physica D, No. 105: p. 79, 15 June 1997.
• "Effective Deterministic Models for Chaotic Motion Perturbed by Interactive Noise," Physical Review E, No. 55: p. 5234, May 1997.
• "Unbiased Reconstructing of the Dynamics Underlying a Noisy Chaotic Time Series," Chaos, no. 6: p. 440, September 1996.
• "Molecules Interacting with Start Intense Laser Pulses: the Dynamical Role of Quasistationary States," Journal of Chemical Physics, No. 104: p. 8943, June 8, 1996.
• "Shape Dependencies in Pulsed Laser Matter Interactions", Journal of Chemical Physics, No. 102: p. 7124, 8 May 1995.

Web links

• Lars Jaeger's homepage
• Literature by and about Lars Jaeger in the catalog of the German National Library

Individual evidence

1. ↑ "The Natural Sciences - A Biography"
2. ↑ "Science and Spirituality: Universe, Life, Spirit - Two Paths to the Great Mysteries"
3. ↑ "Superpower Science - Our Future Between Heaven and Hell"
4. ↑ "The Second Quantum Revolution - From Spooks in the Microcosm to New Super Technologies"
5. ↑ "Dare to see the future! - How we all benefit from progress"
6. ^ "Interview Lars Jaeger - Swiss television: SF video portal"  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.  
7. ^ "Lars Jaeger on the momentum of CDS - Swiss television: SF video portal"  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.  
8. ↑ "2002 Article in IPE (pension fund magazine)"
9. ↑ "2000 Article on risk management for hedge fund portfolios"  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.  
10. ↑ "2002 Interview"
11. ↑ "2006 Article in Garp Risk Review" ( Memento of the original from April 15, 2013 in the web archive archive.today ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. 
12. ↑ "The Risk in Hedge Fund Strategies: Alternative Alphas and Alternative Betas," David Hsieh, Bill Fung, in Lars Jaeger (ed.), The New Generation of Risk Management for Hedge Funds and Private Equity Funds, London: Euromoney Institutional Investors PLC , 2003, 72-87 "
13. ↑ ^{a b} "Factor Modeling and Benchmarking of Hedge Funds: Can passive investments in hedge funds strategies deliver?"
14. ↑ "Hedge Fund Indices: a new way to invest in alternative investment strategies?"
15. ↑ "EDHEC on hedge fund replication"  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.  
16. ↑ "Comments on hedge fund replication"
17. ↑ "Dare to see the future! - How we all benefit from progress"
18. ^ "The Second Quantum Revolution - From Entanglement to Quantum Computing and Other Super-Technologies"