The Quant Trader Singing His Heart Out

在西村的一个舒适的意大利咖啡馆，女服务员将饮料喝酒，因为歌手叫爵士乐的爵士乐队的流行歌曲关于爱情，心碎，寻找灵魂伴侣。

To an outside observer, it would have been impossible to know that the man singing his heart out and pounding the piano was the same person named on several 2017 lists of the highest-earning hedge fund managers, or that he’d once been the most high-profile proprietary trader at Morgan Stanley.

然后，彼得（“Pete”）穆勒 - 54岁的创始人为50亿美元，纽约的量化对冲基金公司PDT合作伙伴 - 展示了大约13世纪的意大利数学家斐波那克的歌词tune of Luis Fonsi’s“Despacito”可能会把他的身份放在数学怪癖所做的地方。

Such a highly public dual identity is unusual in the hedge fund industry. But for Muller, who first took up piano at the age of ten and has released three albums, striking the right balance between his passions for finance and music has been a lifelong quest — and one he has finally achieved.

“I kind of do this finance thing,” Muller — backed by a three-piece band, including bass, drums, and violin — told the audience at his gig. He added that earlier in his career, he took a break to focus on music and worried that if he returned to finance, he would no longer be able to perform. “But it turns out you can do both,” Muller told the crowd through an ear-to-ear grin before belting out more love songs, with titles like “Kindred Soul” and “Scraps of Your Love.”

The day after his West Village gig — atCaffè Vivaldi, one of his favorite places to play — I met with Muller at Manhattan’s Avatar Studios, recently rechristened Power Station atBerkleeNYC。（Muller是基于波士顿的Berklee音乐学院的受托人，最近买了这款工作室，该工作室将作为纽约学校的中心。）一些20世纪80年代最具标志性专辑的记录这里，包括麦当娜的“像处女”和布鲁斯·斯普林斯汀“出生在美国。

黑色裤子和一件深灰色毛衣包装，沙质白肤金发的毛衣散发着他的精益，5'10“框架的热情。他在坐下来之前哄骗他个人历史，他的对冲基金职业生涯和他的音乐之旅。behind the grand piano at the center of Power Station’s cavernous Studio A to perform a piano ballad.

Muller grew up in Wayne, New Jersey, the son of a chemical engineer father and a general-practitioner-turned-psychiatrist mother. After studying classical piano as a child, Muller was connected by a friend to a studio musician and jazz pianist who taught him how to improvise and introduced him to a major influence, jazz saxophonist John Coltrane.

A math whiz, Muller attended Princeton University, where he played in a jazz band, with occasional gigs at small cafés. After graduation he was offered a job at a computer company in New York, but he put it off and drove to California to compose and perform music for rhythmic-gymnastics teams. The realization that he wasn’t earning enough to live on led Muller to take a job at Barra, a portfolio analysis software provider that was later acquired byMSCI。这就是他迷上了数学融资的数学。由于他的职业生涯正在起飞，他搬到伯克利，并形成了一个爵士乐队，每个星期四晚上都在一起。他还开始竞争地发挥扑克 - 一个有利可图的一面演出，在加州恰好是完全合法的。在巴拉几年后，他接到了摩根士丹利的招聘人员，他们想雇用他作为普拉分析师。

“I said, ‘Thank you, but no. I play with a jazz band every Thursday night in Berkeley. It’s really fun. I have a great life. I dress casually, and I’m not coming to New York no matter what you pay me for this job,’” says Muller.

然后他做了一个符合命令：让他在银行内设立专有的交易装备。摩根斯坦利同意，摩根士丹利令他惊讶，让他两年才能使其工作。穆勒很快被接受，如果没有泛滥，他就可以搬回加州。他设置了PDT合作伙伴（首字母缩略词代表process-driven trading) in New York in 1992. It didn’t take long for things to click and for Muller to become very wealthy in his new job, but his personal life was floundering.

“By the time 1998 came around, I was making more money than I ever dreamed of, and I wasn’t happy,” he says.

意识到他被烧毁了，他的音乐已经拍了一个后座，如果他可以休假，穆勒问他的老板。他在不丹度过了七个月，沿着大峡谷划皮划艇，而且，最着名的，最着名的，在纽约市地铁平台上用电键盘。

穆勒返回摩根士丹利，但经过2010瓦德 - 弗兰克华尔街改革和消费者保护法的沃尔克规则提供，禁止银行从事专有交易，他同意旋转攻击对冲基金。

Now PDT, which counts Blackstone Group among its investors, is heading into its fifth year and boasts 185 employees. Though Muller is extremely tight-lipped about both his strategies and performance, PDT operates two statistical arbitrage funds: the Partners Fund and the Mosaic Fund. Muller landed on the亚博赞助欧冠机构投资者的alpha2017 Rich List of top-earning hedge fund managers atNo. 25，2016年赢得了1.3亿美元，由于他的资金的额度的双数赢得了。

With the firm in good shape, Muller was able to take time off to promote his record, which included a gig in July at the prestigious Montreux Jazz Festival in Switzerland. Today he spends most of his time in Santa Barbara, California, where he lives with his wife and two children, and about a third of it in New York, where PDT is based. He starts each day with a half-hour each of yoga and cardio, then downs an espresso before getting to work. He sleeps six to seven hours a night; when he’s not working, playing music, or spending time with his family, he continues to surf and also creates crossword puzzles (some of which have been published inThe New York Times) and plays poker.

这是一个令人难以置信的平衡存在 - “我们从来没有比我们的生活敬畏，而不是我们是Qualling Pete Muller的恐惧，”2011年商业内幕标题宣称 - 但穆勒说平衡对他对音乐和金融的热情至关重要。随着我们在工作室的谈话中，穆勒徘徊在雅马哈大钢琴上坐在房间的中间，玩了一首新歌，他写了一首新歌，“请对我的心灵温柔，”关于爱所需的脆弱性并且被爱。

“当我第一次离开摩根做音乐时，我想，'哇。我必须重点关注音乐，如果我这样做，我不能做金融，“”他在开始玩之前解释。“我甚至写了这首歌，害怕被吮吸被吮吸，称为”几乎“。但我意识到在你的生活中，你可以有一个以上的激情。你从一个人得到的能量可以去另一个。“