Discussion – Do you need to be a quant to

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Discussion Do you need to be a quant to be a better hedge fund manager? A. Hassouni, H. Pirotte Guillaume Monarcha Head of Research, Orion Financial Partners 12th Financial Risks International Conference, March 18-19, 2019 Summary

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Discussion – Do you need to be a quant to be a better hedge fund manager? A. Hassouni, H. Pirotte Guillaume Monarcha
Head of Research, Orion Financial Partners 12th Financial Risks International Conference, March 18-19, 2019<br>
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Summary | Objectives and positioning regards existing literature Aim of the paper
Determine whether hedge fund managers with quantitative educational background outperform other hedge fund managers.
Hypothesis tested: “Hedge fund managers who graduated in a quantitative academic program outperform hedge fund managers who graduated in non-academic program”

Related literature
Mutual Funds
Golec (1996): MBA vs. non-MBA
Chevalier and Ellison (1999): previous + SAT, i.e. The score of the undergraduate institution
Bliss Potter (2002): previous + gender of the manager. No difference
Gottesman and Morey (2006): extend Chevalier and Ellison (1999) work incorporating the quality of the MBA, the type of school (liberal or not), holding of other degree (CFA, PhD…) 2<br>
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Summary | Objectives and positioning regards existing literature Related literature
Hedge funds
Li, Zhang, and Zhao (2011): test the impact on SAT + years working as manager on the risk level, the raw and risk adjusted returns, and fund flows.
Fang and Wang (2015): MBA and CFA are positively linked with risk adjusted returns

Innovation of the paper
Extend the questioning of the impact of managers’ background on performance to their quantitative / non-quantitative educational background 3<br>