Chapters:
00:00 - Intro
00:10 - Operational setup of Millennium hedge fund
01:25 - Discussion on Managed accounts
02:06 - Would it even be possible to run Millennium in a managed account format

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Over the years, the U.S. financial media promoted quite a few finance professionals to the aw-inspiring Wall Street Guru (or "wizard") status. However, only a few are called like this for more than ten years.

Izzy Englander (Israel A. Englander) was never one of those keen on a "guru" status, even though he counts among the rare people on Wall Street who over multiple decades could not only retain, but also expand their status and impact.

In his first-ever video interview, Izzy Englander shares with Opalesque's Matthias Knab little known details and personal background of almost 40 years on Wall Street, including a stint in Chicago. Beginning in 1970 as a specialist clerk on the floor of the American Stock Exchange, he pointed out that his immediate introduction into the business was of a transactional (and hedged) nature, opposed to fundamental analysis based or directional type investing. He has owned a specialist operation since 1982 and also chaired the Specialist Association.

Englander tells rare insights how he built his Millennium hedge fund, founded in 1989/90 with $30m or $35m initial capital to an institutional size, and what it entails to run a large multi- strategy hedge fund today. At the end of 2009, Millennium has 900 employees in 12 offices. 5000 servers are humming in the firm's datacenters, managed and programmed by 160 IT specialists and processing up to 2 million trades per day.

2 million trades per day? How do you run that in a managed account? Hear Englander speak about operational issues of one the largest multi strategy hedge funds, and on his holistic approach to the clients' needs and demands.

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