Masters in Business Daniel C. Chung on Probability Theories for Investors
Jun 3, 2022
Daniel C. Chung, CEO and CIO of Alger, shares his wealth of knowledge from nearly three decades in investment. He discusses the essence of probability theories in crafting successful investment strategies. Chung also reflects on his unique journey from law to asset management, highlighting mentorship along the way. He dives into the shifting investment landscape, with a keen eye on dynamic sectors like healthcare. The chat also touches on community engagement and the value of diversity within finance, offering valuable insights for emerging professionals.
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Career Shift
- Dan Chung left a promising legal career after clerking for Justice Kennedy.
- He transitioned to finance, influenced by his father-in-law, Fred Alger.
Joining Alger
- Chung's father-in-law, Fred Alger, subtly persuaded him to join Alger.
- Alger critiqued Chung's initial job offers, then invited him to consider Alger.
Probability in Investing
- A strong number sense and understanding of probabilities are crucial for investors.
- The stock market is the ultimate probability machine, reflecting collective valuations.
