Stephen Jen leaves Morgan Stanley for BlueGold

The only reason I decided to give significance to the departure of this man from Morgan Stanley is because I read him when I was working on my thesis in graduate school.  Working on the issues surrounding sovereign wealth funds, his studies and comments made a significant contribution to the output I’ve produced.

Jen, who studied under Nobel laureate Paul Krugman and the late economist Rudiger Dornbusch while pursuing a doctorate in economics at Massachusetts Institute of Technology, made his mark at Morgan Stanley with studies of big-picture issues ranging from global trade imbalances to the growth of sovereign wealth funds.

Some, like the “dollar-smile” theory he developed in 2001 which predicts gains for the greenback during times when the U.S. economy is either in a deep slump or growing strongly, and underperformance for the dollar during times of moderate growth ran against the grain and only gradually gained acceptance when the market validated his views. By the time he left Morgan Stanley, Jen’s distribution list had grown to 3,000 clients and market participants.

We say goodbye to Jen and good luck with the new job at hedge fund BlueGold Capital Management LLP.

Source: Bloomberg


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