The trader's option, the company has new model

Carrie McCabe, founder of the alternative investment management company Lasair capital, always knew that she wanted a career in finance, but trade was another matter.

As a student in the Harvard MBA program in McCabe a cubicle to interview for what she thought would be a corporate finance practice.

Instead, the man in the booth was smoking and definitely McCabe tells HedgeFund.net, "had corporate finance look."

"So you want to be a trader?" said the man that McCabe.

When McCabe politely told him that there must be some mistake, persuaded her to try trading venue, promising her a transfer if she does not like it.

It turned out that the interviewer was late famed Bear Stearns trader Vincent "vinny" Matone, who founded the fixed income trading team who contributed to the development of the company's activities.

Although she was one of the very few women trade in those days, she immediately says McCabe was hooked "because you can see the markets moving."

Bill Michael cheque, founder of Mariner capital, which was at the Bear Stearns when McCabe came, and for which she later worked at his company, Mariner investment group, says repo desk where she worked under Matone as perfect training ground.

"If you are financing your desktop, you can meet all traders, because they all have to get funding. Not only that, you meet all of the clients who is also the hedge funds, "he said.

What McCabe says she learned from Matone was somewhat contrary to many a wannabe financier impression to become a top trader.

"I learned that you can be aggressive in making a trade, but you can also do without decimating a person because it is not a zero sum game," says McCabe. "It meant that I developed a win-win attitude".

She went on to manage a trading floor in New York City Office in Hong Kong and Shanghai Banking Corp.

"I know one thing about trade and in the markets and manage groups of traders--it is important to take action every day and not freeze as a deer in the headlights," she says. "If you have something that doesn't work, you cut your losses, do something else, but do not you don't fight the market."

These attitudes, as well as her accrued experience at companies such as Blackstone Group and FRM capital advisors, led McCabe in a new hedge fund firm model, which is unusual for the industry. Her access management company, Lasair capital, which was launched in early 2008 and has as its strategic partner, a Fortune 10 pension fund.

McCabe cannot comment on the pension fund has partnered with her because of the restrictions, but News reports have said there are 122 billion dollar OFFER Asset Management.

453 billion dollars teachers pension fund TIAA-CREF, recently launched a subsidiary, covariance Capital Management, with $ 1 billion in sowing. Covariance, but tries to be a construction investment firm management of large machine donated. a different business model than Lasairs alternative investment activities.

Even with an impressive partner, was able to open the Mccabes time the doors to its new businesses have been more stressful.

"in 2007, it was clear that the liquidity begins to deteriorate," she says. "We launched in January 2008 and built out in early 2008. I signed the lease for our current office space on 1 October 2008 and the market went down 20 percent.

But to establish the new company may have been a blessing in disguise as it kept McCabe for busy to dwell on the difficult times around her.

"I thought it was either the smartest, or at least the smart decision I ever made," she said.

McCabe describes Lasairs first investment silo as "concentrated equity long-short, focused on equity."

The primary reason for the merger, she says, is that "traditional hedge funds-of-funds over-diversify and not deliver the upside of equity properties. sophisticated investors want not a bond return for hedge fund risk. "