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July 24, 2006 at 08:00 PM
GREENWICH, Conn. (HedgeWorld.com)–Maymin Capital Management LLC is a father and son hedge fund management firm.
The father is Zak Maymin, who came to the United States with his family from Russia (then still part of the Soviet Union) in 1980.
“He got his Ph.D. in math from the Massachusetts Institute of Technology in one year,” soon thereafter, said his proud son, Phil Maymin.
Prior to launching their own hedge fund shop, Phil and Zak both worked at Ellington Management Group LLC from November 2000 to November 2004. They ran the equity derivatives and statistical arb desks.
Before that, Phil was a strategist at the now-notorious Long-Term Capital Management, 1997 to 1999.
Phil Maymin described Maymin Capital’s strategy as “behavioral relative value.” A standard “relative value” strategy, he explained, makes the assumption that everything moves toward equilibrium, that diverging values will converge. That was the ruling assumption of LTCM.
A behavioral relative value strategy, on the other hand, “looks for the behavioral story that will explain why and when things will move toward equilibrium,” he said.
Phil Maymin also is currently running as the Libertarian Party’s nominee for the House of Representatives seat in Connecticut’s Fourth District against Democrat Diane Farrell and Republican Christopher Shays, the incumbent. He said that he can campaign for office and manage hedge funds both because “in modern times, you don’t have to be out on the road shaking hands 24-7″ to campaign effectively.
