Description: Michael Palumbo trader and venture capitalist, founder TMT Investments, and MJP Capital, Chicago, Illinois.
Michael Palumbo is the President and Chairman of MJP Capital, LLC. and is the controlling partner of TMT Investments, LLC.
Mr. Palumbo commenced his career in 1993, with his first finance-related job as a credit analyst at Duff & Phelps in Chicago. Palumbo mentions that during his time with Duff & Phelps he quietly accomplished one of the greatest achievements of his career while analyzing the bond insurance industry.
He developed one of the first models to apply Monte Carlo Simulation as a stress test to bond insurance. Mr. Palumbo left Duff & Phelps before the model was implemented, and to this day still does not know if the firm ever actually used his innovation. Regardless, he does view the model as one of his greatest business achievements, despite not knowing whether the model was ever used by the firm.