Former COO Of Kynikos Associates, Doug Millett, Has Died

Klimt, death and lifeWikimediaGustav Klimt, Death and Life

Doug Millett, a former COO and partner at hedge fund Kynikos Associates, has succumbed to his battle with cancer. He passed away yesterday afternoon.

Kynikos founder and CEO Jim Chanos informed the rest of the fund in an e-mail yesterday.

He wrote: “no one who ever met Doug who was not impressed with his rock-solid integrity, towering intellect, and unmistakable sense of humour. He in all ways embodied the qualities we hold dear, but more importantly, was simply a good person. We will miss him terribly. Our thoughts and prayers are with his family at this time.”

Millett graduated from Yale in 1986. He was a member of the Bulldog’s football team.

In 1991, he joined Kynikos as an analyst, eventually becoming the second largest partner in the firm. He was in and out of the firm until 2003.

What that means is that Millett was involved in some of the fund’s most historic trades — trades that showed the world what some homework can do, like its bet against Enron.

As he put it to those that would listen, the now defunct energy company “simply didn’t make that much money.”

After Kynikos, Millett went on to JP Morgan and Parella Weinberg, but he always maintained a close relationship with the fund and those who worked there.

He is survived by his wife and two sons.

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