Age, Biography and Wiki

Michael Platt (Michael Edward Platt) was born on 12 December, 1968 in Preston, United Kingdom, is an Investor and fund manager. Discover Michael Platt's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 55 years old?

Popular As Michael Edward Platt
Occupation Investor and fund manager
Age 55 years old
Zodiac Sign Sagittarius
Born 12 December 1968
Birthday 12 December
Birthplace Preston, England
Nationality United Kingdom

We recommend you to check the complete list of Famous People born on 12 December. He is a member of famous with the age 55 years old group. He one of the Richest who was born in United Kingdom.

Michael Platt Height, Weight & Measurements

At 55 years old, Michael Platt height not available right now. We will update Michael Platt's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
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Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
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Michael Platt Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Michael Platt worth at the age of 55 years old? Michael Platt’s income source is mostly from being a successful . He is from United Kingdom. We have estimated Michael Platt's net worth , money, salary, income, and assets.

Net Worth in 2023 8 billion USD (2020)
Salary in 2023 Under Review
Net Worth in 2022 Pending
Salary in 2022 Under Review
House Not Available
Cars Not Available
Source of Income

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Timeline

2019

Asked how he finds “talented traders” to employ, he has said that he seeks out “someone who understands an edge.” For example, “I look for the type of guy in London who gets up at seven o’clock on Sunday morning when his kids are still in bed and logs on to a poker site so that he can pick off the US drunks coming home on Saturday night.” There are at least three other things he looks for in traders: first, “[a]n understanding that the market is always right,” so that in when the market is stress, value is irrelevant; second, “[p]aranoia,” which can lead them “to hedge their winning trades” and help them to “manage when they have losing positions”; third, an ability to admit when one is wrong.

2017

In July 2017, Platt's investment strategy was described as follows: “Platt splits BlueCrest’s assets between systematic strategies (based on pattern-spotting computer algorithms) and discretionary (human-driven) trades. The systematic trades are generally trend-following strategies – basically, buying assets that are going up, and selling ones that are falling. He delegates the day-to-day management to his traders, but retains overall control. He believes in aggressive stop losses – he will cut traders’ allocations drastically if they lose as little as 3% of their capital, but will also lift allocations to winning trades.”

2016

In 2016, BlueCrest had a profit of almost 50 percent; in 2017, Platt "led his private investment firm to a 54 percent gain." This contrasted with "mediocre returns at some of the largest hedge funds in the world," noted Bloomberg News. In 2018, the Sunday Times named Platt "the richest hedge fund manager in the City." During the year, his net wealth had grown by 25 percent. In March 2019, he was named one of the highest-earning hedge fund managers and traders by Forbes.

2015

In December 2015, Platt announced that BlueCrest would return $7 billion for outside investors, take no outside money in the future, and become a private partnership. In his letter to investors explaining the change, Platt explained that "Recent developments in the industry, including, among other things, downward pressure on fee levels, the increasing cost of hiring the best portfolio management talent and the difficulty in tailoring investment products to meet the individual needs and constraints of a large number of diverse investors, have all significantly reduced industry profitability and flexibility." Consequently "BlueCrest believes that a transition to a Private Investment Partnership model is now appropriate for the business."

2014

As of 2014, BlueCrest was Europe's fourth largest hedge fund. In that year, it managed over £30 billion and employed 350 people. BlueCrest initially focused on trading interest rates and using computer algorithms to capture trends in bonds and commodities.

2013

In 2013 it expanded into trading equity to compete with Millennium Management LLC and SAC Capital Advisors LLP.

In 2013, BlueCrest invested $50 million in Meredith Whitney's hedge fund, Kenbelle Capital. In October of that year, BlueCrest made a redemption request, but while Kenbelle said it would comply, no repayment was forthcoming. The next year, BlueCrest sued in Bermuda to get its money back from the firm. In 2015, Whitney closed up shop and paid back all her investors, including BlueCrest.

2011

In 2011, George Soros decided to stop managing money for outside clients and turn his hedge-fund firm into a family office. Soros spoke to Platt, asking him to take on more than $1 billion for a 0.5 percent management fee and a 10 percent performance fee. Platt reportedly declined the offer, saying plenty of investors were willing to pay BlueCrest 2-and-20, the industry standard fee structure.

In his first live television interview, given to Bloomberg on 15 December 2011, Platt said that there are “three things he won't touch – exposure to banks, peripheral debt risk, and illiquid investments.”

2010

In 2010, he moved from London to Geneva, Switzerland to avoid increased regulation and for "better staffing options". In 2014, it was reported that he had relocated to Jersey, along with his hedge fund, which was moving from nearby Guernsey, for tax purposes.

2007

Discerning in August 2007 that “a stock market crash lay ahead,” Platt “sold his bank shares, and bought ‘safe’ sovereign bonds,” and thus “avoided the worst of the financial crisis, and profited from the resulting 'flight to quality' and plunge in interest rates.”

1991

He studied Civil Engineering at Imperial College London. After a year, he switched to Mathematics and Economics at the London School of Economics, from which he graduated in 1991.

He joined JP Morgan in 1991. Platt assumed responsibility for developing JP Morgan's swaps and options trading business in April 1992, and in April 1996, became the head of trading for all swaps products relating to the 11 founding nations of the European single currency. In 2000 Platt co-founded BlueCrest Capital Management LLP, with William Reeves.

1968

Michael Edward Platt (born 12 December 1968) is a British billionaire hedge fund manager. He is the co-founder and managing director of BlueCrest Capital Management, Europe's third-largest hedge-fund firm which he co-founded in 2000.

Platt was born in Preston, Lancashire, England in 1968. His father taught civil engineering at the University of Manchester. His mother was a university administrator. His grandmother, whom he has described as "a serious equity trader," introduced him to investment. She "helped him buy stock in trust savings banks that were selling shares to the public." At 14, he invested £500 in a shipping line, Common Brothers, that soon tripled in price. Some of his first investments were in Britain's newly privatised utilities.