Dr. Brownstein’s winning Formula
The STrucTured PorTfolio ManageMenT founder MineSonce-Shunned MorTgage bondS for ProfiTS. hiS flagShiP fund’S50 PercenT gain PuTS hiM aT The ToP of our roSTer of The beST-PerforMing large hedge fundS.
the WorlD’srichestheDge FunDs
For 20 years, Don Brownstein taught
philosophy at the University of Kansas. He special-ized in metaphysics, which examines the characterof reality itself.
In a photo from his teaching days,he looks like a young Karl Marx, with a bushy blackbeard and unruly hair. That photo is now a relicstanding behind the curved bird’s-eye-mapledesk in Brownstein’s corner office inStamford, Connecticut. Brownsteinabandoned academia in 1989 to try tomake some money.
The careerchange paid off. Brownstein is thefounder of Structured Portfolio Man-agement LLC, a company managing$2 billion in five partnerships. Hisflagship fund, the abstrusely namedStructured Servicing Holdings LP,returned 50 percent in the first 10months of 2010, putting him at thetop of
listof the 100 best-performing hedge
photograph by ben baker/redux