A former employee at A.W. Jones & Co., which is regarded as the world’s hedge fund, has passed away.
Bloomberg reported that A. Alex Porter, who joined A.W. Jones as a portfolio manager in 1967 and later went on to launch what is known as Amici Capital today, died on April 18 at his North Carolina farm due to colon cancer. He was 75.
James Grant, a friend and colleague of Porter who also publishes Grant’s Interest Rate Observer, told the news outlet that Porter is one of “the last practitioners from the A.W. Jones era,” which carried the notion that a “hedged” fund is a “long and short and thereby inured to the vicissitudes of the overall market.” Today, a hedge fund refers to a firm that utilizes a leveraged and long investing strategy.
Porter’s New York-based Amici was formerly known as Porter Orlin and before that, Porter Management when it was first founded in 1976.
Porter is survived by his sister, Sarah Porter Boehmler, and three nieces.