Treasurer David Shaw
The stock market allows almost anyone to earn huge amounts of money, regardless of their profession or skills before making their first trade.
However, despite the abundance of different approaches to its analysis, people associated with the exact sciences, especially mathematicians and economists, most often achieve success.
The acquired logical thinking skills become an excellent basis for acquiring new knowledge and skills.
What's most surprising in the biographies of successful people is how successful teachers, scientists, or people closely associated with programming suddenly leave their comfort zone and achieve stunning success in stock trading.
In this article, you will learn about the biography of David Shaw, one of the most influential billionaires in the United States of America.
David Shaw received his education at the University of California, where he successfully graduated with a bachelor's degree with honors.
David's high academic performance and great love for science led him to teaching and to earn a PhD in philosophy from Stanford University.
After receiving his PhD, David Shaw spent many years teaching computer science at Columbia University.
At the same university, he conducted scientific work, conducting various computational studies at that time with the NON-VON supercomputer.
Also, before he began his research at Columbia University, he founded Stanford Systems Corporation, a company that dealt with computing and computer technology.
At Columbia University, David Shaw was actually promoted to dean of the faculty.
Stock market career
David Shaw's trading career began in 1986. At the time, Shaw was a renowned computer scientist, and Morgan Stanley, the largest fund at the time, was seeking an experienced vice president to oversee its automated trading group for asset management.
Naturally, the salaries of a teacher and a manager are completely incomparable, so David Shaw responded to the offer and coped with his duties quite well.
After just two years at Morgan Stanley, David Shaw gained the experience he needed to realize his potential.
Having encountered resistance to implementing his own ideas at Morgan Stanley, David Shaw decides to leave his position at the company and begin an independent career.
In 1988, David Shaw founded his company, DE Shaw & Co, which became the flagship of computer-based robotic trading.
The hedge fund was engaged in the purchase of stocks, bonds and other various securities based on a computerized algorithm invented by David Shaw.
The hedge fund's high returns generated a huge response from investors; moreover, in order to hedge their risks, many funds began actively investing in David Shaw's company.
However, the sale of a portion of Lehman Brothers' shares provided a huge boost to customer acquisition, and the proceeds significantly expanded the company's trading capabilities.
Huge capital and authority allowed Shaw to enter politics and influence the state from within.
In 1994, Shaw was appointed a member of President Clinton's advisory board, focusing on education. In 2009, he was appointed an advisor to President Obama, and during the last election, he provided financial support to Hillary Clinton's campaign.
Today, David Shaw's personal fortune is estimated at more than US$2.5 billion, and Shaw himself is involved in charity work and support of scientific projects.
