Chasing Alpha

Chasing Alpha

Florida Trend – November 2005

HEDGE MONEY: “There’s definitely opportunity in Florida,” says Medon Michaelides, director of U.S. institutional sales at Miami’s PRS Group, which has $830 million in assets.

New York native Neil A. Levy started his career as a CPA and then, in his words, changed careers a “bunch of times.” “Bunch” is an exaggeration, but after graduate school, Levy went into stock research and then moved to Florida in 2001 to join a Palm Beach-based hedge fund firm. This summer, pleased with his investment track record, he opened the doors of his own firm, High Point Capital Advisors, in Coral Springs. He’s all of 34. “I kind of caught the hedge fund bug,” Levy says.

Among Levy’s generation of business school grads, the bug seems pandemic. Indeed, for young financial whizzes, hedge funds now seem to have displaced management consulting, investment banking and mutual funds as the career path of choice. “This is a very young industry,” says Boca Raton lawyer Stephen Mendelsohn of Greenberg Traurig, who has hedge fund clients. “The participants are quite young.”

Full article available here:  Florida Trend