Meet The Hedge Fund Manager Who Thinks Math Is Overrated (When It Comes To Investing) (Forbes) Eric Chung, chief investment officer of Lighthaven Capital Management, joined the Contrarian Investor Podcast to discuss his view that math, financial models, and algorithms are insufficient when it comes to investing. “The widespread use of math in the investment management industry, while it can be helpful … I think there’s been some pretty significant over-reliance on these things,” says Chung. The hedge fund manager says he first started thinking about this topic after the implosion of Long Term Capital Management in 1998. “That was big news at the time,” he recalls. “An algorithmic strategy, the fund itself was run by a number of nobel laureates.” It relied very much on computer models and math to drive its investment process, but fell apart after the Russian financial crisis in 1998. More recently many quant-driven hedge funds were forced to shut down after the financial crisis in 2008.