Perry Kaufman is well-known for developing algorithmic trading strategies and has written extensively on systematic approaches to trading decisions and risk management. His seminal book, Trading Systems and Methods, in its fifth edition, has been called "remarkably insightful - the most authoritative and comprehensive work in the industry; it puts the process of research and development into a cohesive framework His books have been translated into Chinese, Russian, Italian, Spanish, and Japanese, and he continues to lecture to economic forums, investor groups, and graduate students. Mr. Kaufman began his career as a "rocket scientist," first working on the Orbiting Astronomical Observatory… (OAO-1), the predecessor of the Hubble Observatory, and then on the navigation for Gemini, later used for Apollo missions, and subsequently in military reconnaissance. In 1971 he became involved in the futures markets and has remained there. The earliest systematic programs used exponential smoothing and moving average trends, a technique developed in Aerospace for estimating the path of missiles. For the balance of the 1970s, Mr. Kaufman was a partner in an Illinois agribusiness company, developing and marketing commercial hedging services. Throughout the 1980s he headed the systematic trading for Transworld Oil, Limited (Bermuda), at that time it was which traded the largest proprietary account in futures markets in the world. In the 1990s, he was a principal and Head of Research for Drapeau Advisors, a U.S. CTA focused on short-term trading. After accumulating a nearly 3.0 information ratio in 1998, the company was sold to ED&F Man to become Man-Drapeau Research, Pte (Singapore). Since 2000, Mr. Kaufman's has served clients such as Cinergy's proprietary trading group, Graham Capital Management, and Mizuho's Alternative Investments. For more information, refer to the website "www. Perrykaufman.com"