John D. Arnold

John Douglas Arnold ( born 1974 ) was initially a natural gas trader at Enron. After its collapse, he worked with his own company Centauron Advisers. Today he is active as a donor.

Career

Arnold grew up as the younger of two brothers up in a middle class family in Dallas. His father was a lawyer and his mother bird keeper. His father died when Arnold was 16 years old. In 1995, he completed 3 years after his studies in mathematics and economics at Vanderbilt University. He is a member of Lambda Chi Alpha Fraternity. After college, he began his career as an oil analyst at Enron, however, was soon promoted to supporting distributors. In 1996 he joined after the departure of Jeff Bussan in the department office and natural gas traded in derivatives on natural gas. As he took advantage of the new Internet -based trading network, EnronOnline, he generated in 2001 a 3/4 billion dollars for Enron and received a bonus of 8 million U.S. dollars. One of his former colleague called him "the king of natural gas " ( "the king of natural gas. " )

When Enron collapsed in 2002, he founded Centaurus with the bonus of the previous year. His company had 2006 3 billion U.S. dollars in assets under management.

His employees include some well-known energy traders, including former Enron CEO Greg Whalley, and Bill Perkins, Mike Maggi, and Conrad Goerl, formerly of Motherwell skirt.

According to Arnold, there was, after Enron collapsed a general disclosure of the ( credit risk ) among the energy companies. The credit worthier were less willing to make with the less creditworthy businesses. Therefore, found the less creditworthy less trading partners, even if they still had to hedge against price risks in their business activities. Hedge funds have not been active with the exception of the largest on the market for OTC trades, while other stakeholders were reluctant to grant credit in this area. ("After Enron collapsed, there was a general revaluation of credit risk among energy companies. The better credits were less willing to take on the lesser credits as counterparties. So the lesser credits found Themselves with Fewer counterparties willing to trade with them, even though They quietly needed to hedge the pricing Risks in Their business. hedge funds added anonymously had not been Involved in the over-the -counter market, except for the very large largest, Because The other Participants were reluctant to grant credit to the type of entity did. " )

During the collapse of Amaranth Advisors in 2005 it was designated as one of the larger companies and achieved 150 % return in 2005.

At an energy conference expressed Arnold that he looking for it, bet on a market place which is biased ... We wonder if we can identify what the price on the market at unfair value expresses and how we back to its fair can return a value. ( "to place bets on a market he did deterministic mines is ' biased ' ... [ W] e ask ourselves can we identify what is forcing a market to price a product at value to unfair, and then, what will push it back to. fair value " ) Arnold also referred to the Spekultativen of the unregulated OTC trading Intercontinental Exchange (ICE) and NYMEX 's ClearPort trading takes place: " the trade never went away ... what has changed it is the non-commercial Inter food type ... because for there had never been so much interest from investors as it is today. " ( " Trading never went away ... [ W] has has changed is the non -commercial type of interest ... [B ] ecause of this there has never been as much investor interest ... as there is today. " )

In August 2008, acquired about 10 % of the shares of the National Coal Board ( NCOC ).

John D. Arnold made ​​one of his rare public address to the CFTC ( U.S. Commodity Futures Trading Commission ), in which he spoke out against restrictions on financial trading post ion, but the limitations of physical energy futures because of their imminent exhaustion. As Arnold CFTC announced: " I try to buy things Whenever they're trading below what [ our ] analysis shows to be fair value and sell things Whenever our analysis shows did the forward curve is higher than our analysis of fair value."

In 2011, Arnold and his wife donated 100 million U.S. dollars for various purposes, which also includes the establishment of the Laura and John Arnold Foundation Foundation fell.

At 38, he joined the Centaurus Energy Master Fund and retired to devote himself to his Foundation, the Laura and John Arnold Foundation and his family, wife and three children. Their funds will be used to analyze large problems of society, for which there are no easy solutions. The Laura and John Foundation focuses on three main areas: criminal justice, education and accountability of the state. The erinproject to coordinate the school development. The resources devoted to projects in 2012 amounted to $ 423 million.