Richard graduated in Mathematics and Law from Trinity College, Cambridge, where he was an IBM scholar. He founded HED Capital in 1993 to identify and exploit the market shifts he expected after the end of the cold war. HED applies the tools of rational logic and mathematical models of mood-driven crowd behaviour, to financial and real estate markets. HED was a CTA before embarking on research and advisory work and still holds the record for the highest return in a single year for a CTA. He is a guest lecturer at Imperial College, London and at the Cass business school.
Xiao holds BA and MA degrees in mathematics from University College London. He has worked at HED since starting an internship in 2008 and has specialised in the design and modelling of systems.
Kris Kaufman, has degrees in both physics and mathematics. He spent over 15 years in geophysical research as a senior staff geophysicist and project manager for Halliburton. His projects included non-linear inversion modeling, 3-D seismic wave propagation modeling, and writing the first commercial 3-D wave propagation software for the oil industry. Since the early 1990s he has applied the principles of interaction and feedback to financial market analysis and prediction. He is in charge of HED's research.