Blair Hull is the CEO of Matlock Capital
October 08, 2005
Blair Hull, chairman and chief executive officer of Matlock Capital, founded his firm on a lifelong fascination with investing and how discipline, strategy, and technology can be combined to maximize risk adjusted return.
Starting with a desire to be able to quantify every investment decision, in 1975, Blair Hull developed an option valuation model. Although he didn’t know it at the time, his approach was based on the same sound science as the Black-Scholes model. As a market maker on the Pacific Stock Exchange, he consistently applied relative valuation methodology to find mispricings across all options. His computer-generated strategies produced 400% returns in each of his first two years in business, and averaged approximately 50% annual returns thereafter.
In 1980, Blair continued to successfully apply his valuation techniques as a market maker on the floor of the Chicago Board Options Exchange (CBOE), where he was named one of the CBOE’s first Designated Primary Market Makers.
In 1985, Blair Hull founded Hull Trading Company in Chicago, building a team of outstanding thinkers in investing, science and mathematics. This multi-disciplinary group designed and implemented a steady stream of systematic innovations that combined trading expertise with state-of-the-art technology and quantitative models.
The approach used computerized trading to capture thousands of very short-term stock and options mispricings each day while continually calculating portfolio-wide risk on a real-time basis.
Hull Trading Company became one of the world’s premier market-making firms and was acquired by Goldman, Sachs & Co. in 1999.Shortly thereafter, Blair Hull formed Matlock Capital.
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