Articles by 3EDGE Asset Management
By Fritz Folts, Chief Investment Strategist, 3EDGE Asset Management 3EDGE Asset Management has initiated positions in its tactical ESG strategies (Environmental,…
Stephen J CucchiaroPresident & Chief Investment Officer
In his over 35 years of studying the global capital markets and managing investment portfolios, Mr. Cucchiaro has become known for his use of proprietary investment research methods including the application of concepts from system dynamics, complexity economics, artificial intelligence and multi-player game theory to analyze the global capital markets. Mr. Cucchiaro began managing investment portfolios in 1994. He was the founder and served as President and Chief Investment Officer of Windward Investment Management Inc., which was acquired by Charles Schwab in November 2010. At the acquisition, Windhaven Investment Management continued the business of Windward. From the early days of Windward through June 2014, assets under management under Mr. Cucchiaro’s tenure grew from less than $75 million to nearly $20 billion. After more than three years of working towards a successful transition following the acquisition, Mr. Cucchiaro left Windhaven in June of 2014.
Mr. Cucchiaro has appeared on Bloomberg TV and Radio, CNBC, Consuelo Mack’s WealthTrack and the Nightly Business Report, and has been quoted in The Wall Street Journal, Barron’s, The Financial Times, Forbes and BusinessWeek.
Mr. Cucchiaro has an SB in Mathematics from M.I.T. and an MBA in Finance from the Wharton School at the University of Pennsylvania. During the late 1970s, Mr. Cucchiaro was a member of the US Olympic Team in yacht racing and became national champion of his class in 1978 and Gold Medalist in the 1979 Pan American Olympic Games. He serves on the Board of Directors of the Institute for Health Metrics and Evaluation (IHME) and is a member of the MIT Sloan Finance Group Advisory Board.
DeFred G Folts III, FritzManaging Partner and Chief Investment Stratigest
Mr. Folts served with Steve Cucchiaro for over 11 years on the investment committees at both Windward and Windhaven Investment Management, Inc. Most recently, he was the Chief Investment Strategist at Windhaven Investment Management. After the acquisition of Windward by Charles Schwab, Mr. Folts was responsible for the distribution of Windhaven’s investment solutions throughout the entire Charles Schwab nationwide retail branch network. He and his team raised over $10 billion in new assets under management. Prior to joining Windhaven, Mr. Folts was co-founder and served as President of Saugatuck Securities a registered broker dealer firm which provided investment banking and capital raising services to hedge fund and private equity firms. Mr. Folts began his career at The Boston Company, where he served as Vice President and Director of Global Funding for the then newly formed Boston Safe Deposit & Trust Co., (U.K.) Ltd., in London, England.
Mr. Folts received his BA with a major in Political Science from Connecticut College and his MBA from IESE (Instituto Estudios Superiores de la Empresa), a bilingual Spanish - English MBA program in Barcelona, Spain. He is the Chair of the Board of Trustees at Connecticut College where he also serves as on the Investment Committee for the college’s endowment fund. Mr. Folts also serves on the U.S. Advisory Council for the IESE Business School in Barcelona, Spain.
Eric Biegeleisen, CFADeputy Chief Investment Officer & Portfolio Manager
Mr. Biegeleisen is a member of the investment committee. He served with Steve Cucchiaro on the investment committees for both Windward and Windhaven Investment Management, Inc. His research effort is focused on discovering and exploring the interconnectedness of the global capital markets through quantitative and qualitative analyses, including utilizing machine learning algorithms. He is experienced in investment modeling, implementing efficient trading practices and has significant ETF industry experience. Prior to joining 3EDGE, Mr. Biegeleisen was the Director of Quantitative Research and Portfolio Manager at Beaumont Capital Management. He was the Chief Investment Officer and Portfolio Manager of Broadmeadow Capital, LLC an investment firm which he co-founded in 2014. Prior to this, he worked for Windhaven Investment Management as a Senior Investment Analyst and then Director of Research, leading the firm’s quantitative modeling, product due diligence and portfolio structuring. Before joining the investment industry, Mr. Biegeleisen was an engineer for General Dynamics and Textron, working to develop next-generation communications and defense solutions.
Mr. Biegeleisen has a BS in electrical engineering from Trinity College in Hartford, CT, an MS in electrical engineering from the University of Southern California, and an MBA from Boston University’s Questrom School of Business. He became a CFA charterholder in 2011 and is an active member of the CFA Society Boston.
Dan ZralyChief Trader & Portfolio Manager
Mr. Zraly is a member of the investment committee. He has over 20 years of experience as a financial services executive, including as a head trader, spanning diverse product lines and asset classes. Prior to joining 3EDGE, he was a Director for BNP Paribas where he served as the US Head of Fixed Income ETF Trading and iBoxx TRS Trading. During his time at BNP, Mr. Zraly developed technology to make markets, create/redeem and basis trade fixed income ETFs, hedging blocks of ETFs with corporates, sovereign bonds and CDX. Prior to BNP Paribas, he was a Director at Deutsche Bank Securities where he was the Head of ETF Trading North America and Co-Head of Program Trading North America. At Deutsche Bank, he managed all ETF business across asset classes in North America including High Touch Market Making, High Frequency Electronic Market Making, Seed Capital, and Risk Management.
Mr. Zraly has a MS in Computer Science from Pace University and a BS in Liberal Arts from Champlain College. He is a contributor to electronic and print media on ETFs and swap liquidity as well as a speaker at industry events and conferences.
Monica ChandraManaging Partner, Business Development
Ms. Chandra has more than 25 years of senior management experience, spanning innovative startups and large financial services firms. She was most recently the President and Co-founder of TurnRight Advice Solutions, providing an online mentoring platform to professional organizations and educational institutions. She has also held senior roles at Fidelity Investments within the firm’s retirement services and personal investing businesses, including Executive Vice President of Defined Contribution Product Development and Senior Vice President for Human Resources Strategy and Planning. Prior to Fidelity Investments, she helped co-found Harbor Software, a visual database tools company, and What-if-I Financial, a provider of online advice-based investing.
Monica holds a Bachelor of Science in Chemistry from the University of Mumbai and a Master in Business Administration from Boston College. She serves on the Board of Trustees of Dana-Farber Cancer Institute, Inc. and on the Board of Trustees of the Museum of Fine Arts. She is a founding member of the Council for Women of Boston College and a recipient of the 2007 Distinguished Alumni Achievement Award from Boston College’s Carroll School of Management. She is also active with the Boston chapter of TiE, the largest not-for-profit organization promoting entrepreneurship.