Patrick Boyle (financier)

Patrick Boyle (born 17 January 1979) is an Irish entrepreneur, fund manager, academic and author. Boyle is the Founder of Palomar Capital Management, a UK based hedge fund, he is also a Professor of Finance at King’s Business School King's College London, and a Visiting Professor of Finance at Queen Mary University of London in the School of Economics and Finance.[1] He has taught at Queen Mary University of London since 2009. Boyle teaches the Financial Derivatives and Portfolio Management Classes to Master’s in Finance Students.

Patrick Boyle
Born (1979-01-17) 17 January 1979
NationalityIrish
OccupationHedge Fund Manager
AwardsKing’s College London Excellence in Teaching Award
Academic background
Alma materLondon Business School
Trinity College Dublin
ThesisThe Behavior of Stock Prices around Dividend Dates
Academic work
DisciplineMathematical finance
Sub-disciplineFinancial derivatives
Statistical finance
InstitutionsKing's College London
Queen Mary University of London
Palomar Capital Management
Notable works
  • Trading and Pricing Financial Derivatives (2011)
  • Corporate Finance: Investment and Advisory Applications (2017)
  • Trading and Pricing Financial Derivatives (Second Edition) (2018)
Websitepalomarfund.com

Early life and education

Born in Boston Massachusetts, Boyle was brought up in Dublin Ireland. He graduated with a First Class BSc in Business from Trinity College Dublin in 2000 and an MSc in Finance from the London Business School in 2005. Patrick’s research interests are in investment management, quantitative finance, behavioral finance, and market anomalies.[1]

Business career

Boyle began his career in Finance working for Bank of America in Boston Massachusetts, where he began his initial research into the behavior stock prices. At Bank of America he realised that the biggest difficulty he faced was that he lacked experience. With the new availability of online market data in the public domain at the end of the 1990s, Boyle started to study markets. "I thought it might be a smart approach if I analysed as much data as possible so I could speak knowledgeably about stocks; even if I hadn’t lived through the various market periods, I could at least be a history student of the market." Boyles studies became more statistical in their nature and he enjoyed a couple of early successes, applying his theories to investment. "I realised over time that certain rules work better than others" he says. "I initially approached the markets like a man from Mars who knew nothing at all and in a way that is why I developed my own approach."

He read about Victor Niederhoffer, admired his statistical approach and began corresponding with Niederhoffer sharing his statistical studies as to how markets behaved. Niederhoffer liked what he saw and made Boyle a job offer.[2]

In 2001 he began working for Victor Niederhoffer, a former partner of George Soros' as a financial derivatives trader. Boyle has since been a Portfolio Manager at Royal Bank of Scotland Group, Millennium Management, LLC and Nomura Securities.[3]

Boyle founded Palomar Capital Management, a multi award-winning hedge fund in 2011 along with his business partner Jesse McDougall.[4] At Palomar, Boyle wrote computer code that enters hundreds of trades a day in global markets that has a win rate of 65%.[5] Investors in Palomar include Stanley Fink, Larry Hite and Victor Niederhoffer.[6]

Academic career

Boyle is Professor of Finance at Kings Business School, King's College London since 2017. He won a prestigious Kings Education Award in 2019 for Innovation in Teaching.[7] Since 2009, he has been a Visiting Professor of Finance at the Queen Mary University of London.[1] Boyle is one of the organizers of the annual King’s Business School, Conference on Financial Markets.[8]

Boyle has co-authored two finance textbooks.

  • Boyle, Patrick (2018). Trading and Pricing Financial Derivatives: A Guide to Futures, Options, and Swaps, Second Edition. Boston: De Gruyter.
  • Boyle, Patrick (2017). Corporate Finance: Investment and Advisory Applications. California: CreateSpace.

Since 2019, Boyle has uploaded short classes on financial derivatives to YouTube. [9]

References
  1. "Queen Mary University of London Profile". Queen Mary University of London. 2020. Retrieved 20 January 2020.
  2. Chandler, Beverly. "Former Niederhoffer initiate and UK finance professor launches hedge fund". Opalesque. Retrieved 12 November 2019.
  3. Patrick Boyle Profile Palomar Capital Management
  4. Palomar Capital Management Launch & Awards
  5. Manzoor, Sarfraz. "Quants: the maths geniuses running Wall Street". The Telegraph. Retrieved 11 November 2019.
  6. Westbrook, Jesse. "Former Nomura Trader Plans Hedge Fund With Backing From ISAM". Bloomberg. Retrieved 11 November 2019.
  7. "Kings Education Award". King’s College London. 2020. Retrieved 20 January 2020.
  8. King’s Business School Conference on Financial Markets at KCL.ac.uk.
  9. Boyle, Patrick. "Patrick Boyle On Finance YouTube channel". YouTube. Retrieved 9 March 2020.
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