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Michael Zhuang

Personal Finance, Retirement, Investing
“Michael Zhuang, Principal of MZ Capital Management, is dedicated to helping physicians, entrepreneurs, and divorced women build wealth and live well.”

MZ Capital Management

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Michael Zhuang is founder and principal of MZ Capital, a fee-only registered investment advisor firm located in the Greater Washington D.C. metropolitan area.

Michael earned dual Master Degrees in Mathematics and Quantitative Finance from Carnegie Mellon University. He was also a PhD candidate for Financial Economics. After completing all training and exams, he decided his true calling is not in academia. The PhD training taught him how to think rigorously and research thoroughly.

From 1999 to 2000, Michael worked as a financial engineer for Societe Generale, the biggest French banking group.

From 2000 to 2003, Michael was hired by PG&E National Energy Group to launch their weather derivatives trading business. Within 2 years, he became one of the top 3 traders in the field. Nevertheless, he saw first hand the crooked ways of the financial industry where everything goes to make a buck. That experience motivated him to launch MZ Capital.

Michael's investment approach is based on the Nobel Prize winning research of Eugene Fama. He is also deeply influenced by three people: Warren Buffet on value-orientation and patience, David Swensen on multi-asset-class investing and decision framework, and John Bogle on minimization of costs for clients and stewardship of clients' money.

Michael is active in the community. He twice sponsored Melodic Impact, a musical fundraiser for kids with cancer. He volunteered as an instructor for Toastmasters International's Youth Leadership Program. He was on the board of Special Love, Inc., a non-profit devoted to kids suffering from cancer. Recently, he also completed Leadership Montgomery.

Michael is married with two children. His favorite past time is stand-up comedy and storytelling. He was nominated as Top Ten Storytellers in Virginia. He has also won multiple Story League contests in DC and Best Storyteller in Philadelphia's Story Slam. He performed clean comedy regularly in corporate, charity and association events.


MS, Finance and Economics, Carnegie Mellon University

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  • MZ Capital Management Story and Value
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    Personal Finance, Stocks, Income Tax
Should I sell a stock that's down 70% for income tax purposes?
56% of people found this answer helpful

The answer is yes. Once you do that, don't regret it even if the price goes back up since you couldn't possibly know in advance. More important than taking advantage of the tax code is to learn that it is exceedingly difficult to pick a stock and beat the market. There is a mountain of evidence that stock pickers by and large don't outperform that market, for instance, Berkley professor Terry Odean's many studies on stock picking and market timing, one of which is call "Trading is hazardous to your wealth." Even professional stock pickers (money managers) can't consistently beat the market. It's therefore a fool's errand. It is much better to invest in an index fund and forget about it. Professor Terry Odean also found found investors tend to sell winners too soon and hold losers too long. I suggest you study his research and try to avoid the behavioral biases he identifies that have hurt investors.

April 2017
What's the safest way to invest in high-yielding dividend stocks?
55% of people found this answer helpful
October 2016
Are there funds that have performed better than those that follow the total stock market?
50% of people found this answer helpful
July 2017
    Asset Allocation, Bonds / Fixed Income, Choosing an Advisor
Should I try a do-it-yourself approach when beginning to invest 50% in stocks and 50% in bond mutual funds, or hire a financial advisor to select a basket of stock options and bond mutual funds? 
50% of people found this answer helpful
March 2018
What is the difference between a hedge fund and a private equity fund?
50% of people found this answer helpful
October 2016