THE GLOBAL CITIZEN - Wilbraham & Monson Academy

AN INTERVIEW
WITH ANDREW
BAZARIAN ’86
Andrew Bazarian, who graduated from the Academy in 1986,
is a portfolio manager with SAC Capital Advisors, a group of
hedge funds with $6 billion in assets under management based
in Stamford, Connecticut. SAC Capital is known to be one of the
most successful hedge funds in the U.S.
Academy World: Could you tell us a bit about your position
at SAC and a little about how you got there.
Andrew Bazarian: I started my career with Arnhold and S.
Bleichroeder in 1994. I moved to First New York Securities
in 2000, where I was a partner. I moved to SAC Capital
Advisors in 2004. As a portfolio manager at SAC, I manage
a portfolio of Asian stocks, investing in all Asian equity markets,
including China, India, Korea, and Thailand.
AW: Andrew, how have global markets changed, that is,
why has it become more commonplace for investors to seek
investments outside of their own country?
From left, Director of CEGS Melissa Donohue, Alexander Corbett, Niti
Lertsumitkul, Andrew Bazarian, Fernando Zavala, Jeff Nowak.
THE ACADEMY WORLD · FALL 2006 · WMA 7
GLOBAL CITIZENSHIP
AB: Three major trends – all intertwined – have resulted in
significant change over my career. They are outsourcing, a
maturation of the markets, and an increase in the standard
of living all over the globe. The increase in outsourcing has
caused a large amount of production to be moved out of
high-cost developed markets into low-cost Asian markets,
which has raised the standard of living for all Asian countries.
Markets have matured and become less volatile as
Asian corporate governance has improved. Local owners
and management – including many WMA families – were
hurt in the Asian Crisis in the late 1990s. Companies had
incurred large amounts of debt, much of it from foreign
lenders, during the 1990s expansion. They were hurt when
business slowed, confidence waned, and currencies were
devalued. Many couldn’t service the debt and lost all or
parts of their businesses. Asian management has become
much more cautious. They have very little debt and are
much more prudent managers. The overall development
of Asia, especially China, has put a huge strain on global
resources such as oil, iron ore, and steel.
AW: How is it that international events can impact markets
all over the place, even in seemingly isolated areas?
AB: Globalization has increased the interdependence of all
countries. This is good both economically and politically.
It helps to align everyone’s interests. China’s fortunes are
tied to western economies. As a result, Beijing has a greater
interest in helping resolve political crises like that in North
Korea, which provides a greater chance for a peaceful resolution.
AW: How has your Academy education helped refine your
global perspective?
AB: My WMA experience has been beneficial in several
ways. First, it gave me a great base from which to explore
various opportunities at the college level. Second, having
made friends with Asian students at WMA removed simple
barriers that might have existed through college. This
familiarity with Asian students allowed me to understand
more easily different Asian cultures, especially Korea, Japan,
Thailand, and China, each of them unique. Finally, having
friends overseas has made business more enjoyable. On a
trip in May, I was able to reconnect in Seoul with my classmate
Young Suk Kim, the highlight of that two-week trip.