31 Facts About Boaz Weinstein

Boaz Weinstein was born on 1973 and is an American hedge fund manager and founder of Saba Capital Management.

Boaz Weinstein rose to prominence at Deutsche Bank in the early and mid 2000s with his credit default swap and capital structure arbitrage trading strategies.

Boaz Weinstein then formed a proprietary trading group within Deutsche Bank.

Boaz Weinstein was among the first to identify and publicize a trading opportunity that was later nicknamed the "London Whale", when a trader at JPMorgan made a number of trades that exposed the firm to about $6.2 billion in losses.

Boaz Weinstein is the son of Giselle and Stanford Boaz Weinstein and grew up in a Jewish family the Upper West Side.

Boaz Weinstein's father owned an insurance brokerage and his mother, who had immigrated from Israel, was a translator.

Boaz Weinstein first enrolled in a chess workshop at the age of five.

Boaz Weinstein had an interest in investing from an early age and was a fan of the television program Wall Street Week, hosted by Louis Rukeyser, which his family watched every Friday night.

Boaz Weinstein attended the University of Michigan and graduated in 1995 with a degree in philosophy.

Boaz Weinstein joined Deutsche Bank in January 1998, following several traders who moved over to the firm.

Boaz Weinstein became the only person at the bank trading credit default swaps, insurance policies that payout when borrowers default.

Boaz Weinstein was promoted to vice president of Deutsche Bank in 1999.

Boaz Weinstein became one of the most successful traders in the derivatives market.

Boaz Weinstein took the opposite position when AOL Time Warner's stock dropped around the same period.

Boaz Weinstein made a similar trade in 2005 with General Motors by selling protection on the company's debt using a CDS and at the same time hedging his position by shorting the company's shares.

In 2001, at the age of 27, Boaz Weinstein was promoted to become one of the youngest managing directors in Deutsche Bank's history.

Saba reportedly lost as much as $1.8 billion in 2008, Boaz Weinstein's only losing year out of his eleven years at Deutsche Bank.

Boaz Weinstein had left Deutsche Bank two months before, and his former employer had agreed to the move years in advance and to become one of Saba's main brokers.

Boaz Weinstein was included in Fortune's 40 Under 40 list in 2010 and 2011.

In 2012, Boaz Weinstein profited from a notable loss incurred by JPMorgan Chase on account of a failed investment in credit derivatives attributed to a trader at JPMorgan who was later nicknamed the "London Whale".

In February 2012, Boaz Weinstein recommended to a conference of hedge fund managers that they should keep buying as the seller was continuing to sell.

Boaz Weinstein's philanthropy has focused on public school education, New York City, and Jewish causes.

Boaz Weinstein serves on the board of directors of the alumni association of Stuyvesant High School and is a significant donor to the school.

In June 2018, Boaz Weinstein wrote an op-ed in The New York Times opposing a proposal by Mayor Bill de Blasio to remove the testing requirement at Boaz Weinstein's alma mater Stuyvesant High School.

Boaz Weinstein is the founder of the Success Academy Charter Schools of Harlem 6 and Bensonhurst.

Boaz Weinstein is a member of the leadership council of Robin Hood Foundation, a New York non-profit organization working to counter poverty.

Boaz Weinstein had become interested in blackjack since the early 1990s and learned card counting after reading Edward O Thorp's Beat the Dealer.

Boaz Weinstein often played with a secretive blackjack team from MIT which has been profiled in the book Bringing Down the House, later adapted into the film 21.

Boaz Weinstein is reportedly on the blacklist of several casinos as a card counter.

In 2005, Warren Buffett invited him to play in a celebrity poker tournament where Boaz Weinstein won a Maserati.

In 2012, Boaz Weinstein bought a $25.5 million property on Manhattan's Fifth Avenue, from the estate of Huguette Clark.