Micalizzi fined £2.7m for hedge fund collapse

Italian finance professor once heralded for options pricing banned from trading

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Alberto Micalizzi, sometime professor of finance at Bocconi University in Milan, was said to be an expert on options pricing. At the height of the financial crisis in October 2008, he was heralded by some media outlets for his astute work as chief executive of London-based Dynamic Decisions Capital Management, a $550 million hedge fund.

But little did the fund’s investors know that in October 2008 the fund’s main strategy lost $85 million and hid the losses by buying up a series of bonds issued

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