Dr. Rama Rao



Financial Physics

financial physics

Read this in-depth Study of the
Hedge Fund Industry

Hedge fund book


Praise for the book

"A provocative study that makes one think about the future structure of the hedge fund industry. A timely study released as major deals are coming to light."

Lois Peltz, Managing Editor-MAR/HEDGE

"Exceptionally solid work, clear reasoning and well documented. Conclusions are both logical and insightful."

Hunt Taylor, Executive Director- Tass Management, Inc.

"This report addresses the rising tide of wealth in the U.S. and the bright future for alternative asset managers going into the next century. It also suggests we may begin to see a consolidation among alternative asset managers similar to what has been occurring in the traditional asset management industry over the last decade."

H. Bruce McEver, President-Berkshire Capital Corp.

"I read the report with admiration and recognition. It presents a very credible vision of the future of the hedge fund industry."

Arthur J. Samberg, Chairman & CEO- Dawson-Samberg Capital Management, Inc.

"This is a wonderful report on the hedge fund industry and the evolution concept is well articulated. We believe one day it will be considered imprudent not to hedge. Interestingly, Harvard, Yale, Stanford and Duke Universities already subscribe to that philosophy."

E. Lee Hennessee-Hennessee Hedge Fund Advisory Group

"This report puts a unique perspective on the hedge fund industry, and shares insight that was not previously available anywhere."

Peter W. Testaverde Jr., Partner Financial Services Group- Goldstein Golub Kessler & Co.




Companies Focus Efforts
To Market Laser Device

By James Bernstein
A small medical technology company in Holbrook said yesterday it plans to buy Quantronix Corp. of Smithtown, a well-known laser manufacturer, for about $10 million.

Excel Technology Inc., formed as a privately held research company about five years ago, has developed an advanced laser system for the scientific and medical community and needs the help of a larger company to make and market the device. Quantronix, a 20-year-old company that makes lasers for industrial and computer chip uses, has been losing money recently and needs cash and new products.

Rama Rao, the physicist who founded Excel in the basement of his Coram home, said the company is still developing the advanced laser, which is capable of creating an array of colors. The device is called a solid-state tunable sapphire laser system.

Rao said the system could replace lasers now in use in the medical and scientific research fields, and could be used in the diagnosis and treatment of cancer.

The device is being tested at the Massachusetts Institute of Technology, Hughes Aircraft Co. and the Department of Energy's Ames Laboratory in Ohio, Rao said. Excel has received $1 million in government funds to test the laser, which would need Food and Drug Administration approval before it could be used to test diseases in humans.

Quantronix president Morton Brozinsky said that if the device is successful, the company may add to its 200-member work force. Excel, which employs 12, also may hire in the future.
Brozinsky, who replaced Donald Mitchell as president in November, said Quantronix was interested in the deal "because it brings two things to the party - cash, which we need very badly, and the potential for new products, which we also need very badly. I think it is the perfect fit between two companies."

It has not yet been decided whether the Quantronix or Excel names will be changed. Brozinsky, who was chief executive of Standard Microsystems Corp. in Hauppauge in the mid to late 1970s, is to remain Quantronix' chief executive officer. He will join the Excel board of directors.

Quantronix lost $979,000 in its most recent fiscal year on sales of $29 million.

Rao, born and reared in India, received a doctorate in physics from the University of Illinois. "I came here alone with a little suitcase and $100 in my pocket," he said. "This is a country full of opportunities." Excel began issuing stock to the public six months ago.

Each outstanding share of Quantronix stock will be converted to one-half of an Excel share and a warrant to buy an additional one-quarter share.