Michael J Palumbo

Michael J. Palumbo turned a $250,000 investment into a company worth well over $100,000,000. The former Chicago Board Options Exchange floor trader is an entrepreneur, venture capitalist, and the author of the new book, Calculated Risk.

Palumbo, 49, is the founder and controlling partner of Third Millennium Trading, LLP, Third Millennium Trading, LLC and TMT Investments, LLC, all Chicago-based proprietary trading and marketing firms. He is also the principal of MJP Capital, LLC, a private, mid-west regional holding company focusing on both real estate and technology. The two main ventures of MJP Capital are Ceres Acquisitions and Ceres Tech.

In 1996, Palumbo founded Third Millennium Trading LLP on a quarter-million-dollars. Within a decade, it was worth over $100 million. He then provided initial funding as the original venture capitalist for the high-frequency trading firm GETCO. That firm was valued at $1.7 billion when he exited it to a private equity group. Crain’s Chicago Business recognized his accomplishments and trading income in its 2005 "40 Under 40 Focus." He was additionally listed among the top 100 traders worldwide in Trader Monthly Magazine.

Palumbo was also featured in a special VH1 television documentary, "The Fabulous Life of Wall Street Billionaires – Ballers" and a book, Trade With Passion and Purpose. CNBC-TV Power Lunch called Palumbo "unusual" and "highly-intelligent, highly successful, and a big risk-taker" during an interview with him. Palumbo began his career as a credit analyst at Duff & Phelps, where he analyzed the bond insurance industry. He then started his CBOE floor career as a clerk for Susquehanna Financial Group in 1993. During his employment at Duff & Phelps, Palumbo created one of the first stress test models for bond insurance using Monte Carlo Simulation.

In 2000, Third Millennium Trading, LLP was one of the largest volume equity-market-making trading firms in the world. Mr. Palumbo’s specialty is the equity options market, where he trades on macroeconomic factors, rarely holding a position for more than a month. He received his Bachelor of Science in Management Information Systems from Illinois Institute of Technology in 1988. He then completed his Master of Business Administration in Finance and Economics at Northwestern University in 1990 at the age of 23. He resides with his wife and newborn twins in the Gold Coast neighborhood of Chicago. He has four children with his first wife.

http://www.michaeljpalumbo.com

http://www.calculatedriskbook.com