Michael J. Oyster, CFA, CAIA is an investment strategist, researcher and author. He is the creator of the Premium Returns Strategies and the Options Incomes Index. With a BBA from University of Cincinnati's Lindner's College of Business Administration in hand, he began his professional investment career in 1994 with options advisory firm Schaeffer’s Investment Research. As their Senior Quantitative Analyst, he conducted detailed analysis of options and volatility metrics while managing product offerings including an S&P 500 Index options spread strategy.
Upon joining FEG in 1999, Michael began researching traditional, hedge fund and options-based investment strategies as well as conducting and publishing independent research. As their Chief Investment Strategist and a prior managing principal, he served as a thought leader on capital markets and was a frequent speaker and moderator regarding markets, strategies and the economy specializing in macroeconomic analysis, investment philosophy and asset allocation. During his time at FEG, Michael developed, enhanced, and published a variety of different concepts including a ground-breaking technique that refines the sub-asset allocation decision-making process by pairing valuation with momentum. As a member of FEG’s Investment Policy Committee (IPC), he helped guide firm-wide investment philosophy, education, and manager research.
His first book, Mission Possible: Achieving Outperformance in a Low Return World, was published by Dearborn Trade in 2005. His latest book, Success in a Low-Return World: Using Risk Management and Behavioral Finance to Achieve Market Outperformance, has just been published by Palgrave Macmillan this November (2018) and is available as an eBook or in hard cover.
Michael was twice commissioned by the Chicago Board Options Exchange (Cboe) to conduct research on and provide summary analysis regarding suites of their proprietary options indexes. Additionally, his work with Cboe has included being a moderator multiple times at their conferences.
Back home in Cincinnati, Michael serves as a board member on the Freestore Foodbank Foundation and on the Lincoln W. Pavey Educational Foundation.
- Cboe Risk Management Conference, March, 2018, moderator: “Applying Options/Volatility Strategies Within Institutional Portfolios”
- National Society of Institutional Investment Professionals 2017 Summit, November, 2017: “Derivatives Strategies and Portfolio Hedging”
- Council on Foundations Annual Investment Conference, October, 2017, moderator: “Active vs. Passive Equity Investing”
- FEG Investment Forum, August, 2017 – Main stage, keynote presentation, “The Carousel of Economic and Market Cyclicality”
- Comerica National Investment Conference, “Investment Philosophy and Market Update”