How Dan Chung Rebuilt Fred Alger Management After 9/11
Dan Chung survived 9/11 by chance, then rebuilt Alger Management after losing 35 colleagues. He's still picking winners today.
Most fund managers talk about surviving bear markets. Dan Chung survived something far worse. The CEO and chief investment officer of Fred Alger Management was one of the few who made it out of the September 11 attacks alive — not by strategy, but by chance. Thirty-five of his colleagues didn't.
What happened next defines the man as much as any stock pick. Chung was handed the near-impossible job of rebuilding a firm that had just been gutted — not by a bad quarter, not by a rogue trade, but by the deadliest terrorist attack on U.S. soil. Reconstructing a functioning investment operation from that kind of devastation takes a different kind of discipline than anything they teach in an MBA program.
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Decades later, Chung is still at the helm, still hunting for the market's next big winners. That kind of longevity in active asset management is rare on its own. Doing it while carrying the weight of what Alger went through on 9/11 puts him in a category almost entirely by himself. The firm's survival is a case study in institutional resilience that Wall Street doesn't talk about enough.
For retail traders watching which managers actually have the mental edge to stay sharp across full market cycles, Chung's track record is worth your attention. Surviving chaos — and then compounding through it — is exactly the kind of operator profile that tends to outperform when volatility spikes and weaker hands fold.
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