Anthony R. Jiorle
Anthony R. Jiorle is the President of Quantitative Asset Allocation Decisions, LLC.
Mr. Jiorle retired from The Vanguard Group of Investment Companies in December 2003. Since then, he has been developing a statistical-based investment model. The Core Factor Asset Allocation Decision Model results from 18-plus years of research and analysis, which is ongoing.
While employed as a Principal at Vanguard, Mr. Jiorle was responsible for managing the Fixed Income Group's Quantitative Research and Analysis Unit.
In addition to quantitative research and analysis, this business unit encompassed derivatives research, analysis and trading, separate bond portfolio accounts management, and the Fixed Income Group's computer technology.
Before joining Vanguard, Mr. Jiorle was the Head Trader for the Federal Home Loan Mortgage Corporation's (Freddie Mac) Hedge Management Department. At Freddie Mac, he developed and implemented hedge management policies, procedures, and strategies to protect the firm's mortgage portfolio against interest rate volatility.
In managing the hedge portfolio, he and his staff employed all available hedging instruments, including cash Treasury notes and bonds, financial futures, options on financial futures, options on cash Treasury securities, options on mortgage-backed securities, and combinations of these securities. His mortgage hedging model used to manage the multi-billion-dollar hedge portfolio generated net economic benefits for Freddie Mac, which far exceeded the firm's targets.
Mr. Jiorle was an Adjunct Professor in the School of Business at Georgetown University in Washington, DC. There he lectured on the analysis, strategy, and trading of financial futures and options. The class was open to qualifying senior finance majors.
He served on an arbitration panel for the National Futures Association. The panel arbitrated disputes brought by customers against an NFA Member or employee thereof, or Associates. The disputes involved commodity futures contracts.
While in Washington, DC, Mr. Jiorle was employed by the Federal Energy Regulatory Commission (FERC) as a financial analyst and testified as an expert witness. His focus was on preparing testimony for and participating as a witness in numerous cases related to the cost of capital for natural gas pipeline companies and electric transmission companies. Mr. Jiorle also prepared testimony for and testified in cases that examined the financial feasibility and financing of new oil pipeline projects and new natural gas and electric transmission projects.
His financial model for funding the Dismantling, Removal and Restoration Fund (DR&R Fund) for the Trans-Alaska oil pipeline was adopted by the hearing's presiding Administrative Law Judge.
Before FERC, Mr. Jiorle was a registered representative for Hornblower & Week, Hemphill, Noyes, which at the time was a member firm of the New York Stock Exchange. Initially, a retail stockbroker, he was selected to establish and develop the Washington office's Institutional Bond Department for Hornblower to service institutional accounts in Washington DC, Virginia, and Maryland. Mr. Jiorle left Hornblower to assume his position as a financial analyst at FERC, which qualified him to sit for the second and third Chartered Financial Analysts exams, which he passed.
He started his career as a registered representative for Auchincloss, Parker, and Redpath, a member firm of the New York Stock Exchange.
Mr. Jiorle served two terms as President of the National Society of Rate of Return Analysts. Also, he served as Vice-President of the Washington Association of Money Managers, and as a Director of the Washington Society of Investment Analysts.
His undergraduate degree is in Accounting from the American University, and his course work for a Master's in Economics was completed at Virginia Polytechnic Institute.
For ten years ending September 2017, Mr. Jiorle served as a part-time Paramedic for the Uwchlan Ambulance Corps in Exton, Pennsylvania. While unrelated to the investment world, the experience had a significant impact on Mr. Jiorle's perspective on life and his appreciation of the rewards of helping others in their time of need. A huge thank you to all first responders; police, fire, and emergency management services personnel.
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