Michael Kao
Michael Kao has over 30 years of investment business experience analyzing and investing in many markets and asset classes, spanning commodities to credit to convertible, capital structure, event arbitrage to distressed debt and equity investing. He was the CEO and Portfolio Manager at Akanthos Capital Management, a hedge fund focused on asymmetric opportunities and event options across capital structures and asset classes. Prior to forming Akanthos in 2002, he worked at Canyon Capital Advisors where he co-founded the Canyon Capital Arbitrage Fund, directing investments in various arbitrage strategies. He also focused on firm-wide portfolio hedges using index options, interest rate instruments, currency options, and commodity options. Kao stopped actively managing external capital in 2019 and now invests primarily in the Kao Family Office.
Michael Kao Professional Experience / Academic History
Professional Experience
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CEO and Portfolio Manager
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Co-Founder and Portfolio Manager
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Commodity Derivatives Trader, J. Aron Currencies and Commodities Division
Academic History
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M.B.A., Finance
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B.S., Electrical Engineering and Computer Science
EARLY CAREER
Kao began his career in the commodities unit at J. Aron/Goldman Sachs, where he traded over 25 different commodity markets and their derivatives.
At Goldman Sachs, he engaged in index arbitrage, proprietary trading strategies in over 30 underlying future and options markets.
At Canyon Partners, he analyzed, devised and implemented trading strategies in convertible and capital structure arbitrage, merger arbitrage, standalone and option strategies, and firm-wide portfolio hedges using index options, interest rate instruments, currency options and commodity options.
He has devised and implemented investment strategies spanning multiple asset classes and markets since 1992.
MEDIA & APPEARANCES
Kao has appeared as a guest on Real Vision.