Rafael Lazo has over 15 years of investment experience which started with the index arbitrage groups of Bear Wagner Specialists & LaBranche Structured Products (2 of the largest NYSE Specialists firms during this time). Previous member of the American Stock Exchange, Chicago Board Options Exchange, & Chicago Stock Exchange participating as a market maker in options & ETF’s. He started Tail Hedge Advisors, LLC as a tool for buy-side firms to understand all relevant factors in the newly emerging universe of tail hedge investments. Rafael received an M.B.A from Thunderbird and B.A. from the University of Florida.

Harry Silver has over 25 years of investment experience with more than half that time spent at Morgan Stanley where he became a Managing Director at the age of 34. He ran all the sector related index options business while at Morgan Stanley and then started the equity derivative desk at Jefferies in 2004. Currently he is the Managing Director of institutional sales trading for Israel A. Englander & Co. Harry received an M.B.A. from Washington University and B.S. from the University of Richmond.