Michael Lovelady, CFA, ASA, EA, works as an investment strategist and portfolio manager, where he specializes in blending traditional and quantitative styles, including reduced-volatility and yield-enhanced option strategies. Michael developed the synthetic annuity and is the author of Profiting with Synthetic Annuities: Options Strategies to Increase Yield and Control Portfolio Risk.
Prior to hedge fund management, Michael was a consulting actuary for Towers Watson and PricewaterhouseCoopers, where he worked with employers on the design and funding requirements of plans ranging from defined benefit and defined contribution to hybrid db/dc plans. His experience with retirement income strategies—both as an actuary from the liability side and as a fund manager from the asset side—gives him a unique perspective.
Michael has also been involved in teaching and creating new methods for making quantitative investing more accessible to students, trustees, and others interested in investment and risk management. He developed the investment profile—a graphical representation of risk and the basis of a simplified option pricing model, and visually intuitive presentations of structured securities.
During his career, Michael has served various organizations, including Hughes Aircraft, Boeing, Global Santa Fe, Dresser Industries, the Screen Actors Guild, The Walt Disney Company, Hilton Hotels, CSC, and the Depository Trust Company. He is a CFA charterholder, an Associate of the Society of Actuaries, and an ERISA Enrolled Actuary. He currently lives in Los Angeles.
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