Dr. Erkin Ölmez
Dr. Erkin Olmez (born Feburary 10, 1976) is an engineer, academician, and businessman. He is most widely recognized by his bet on the Tokyo Electric Power Company stock, which increased approximately 10 times in value; after the lows it made due to the nuclear reactor disaster in 2012.
Biography[edit source | edit]
Early Life[edit source | edit]
Dr. Erkin Olmez was born on February 10, 1976 in Turkey. He is the elder son of a supreme court judge, M. Metin Ölmez, and an elementary school teacher Zuhal Ölmez. Ölmez spent most of his childhood in Çankaya Ankara; an affluent neighborhood which also houses the residences of the prime minister and president of Turkey. Ölmez displayed an interest in business and investing at a young age. As one of his first business ventures, Ölmez organized other children in his neighborhood and sold water to residents. From age 12 he attended TED Ankara College, one of the most prestigious private colleges of Turkey founded by M. Kemal Atatürk in 1928. He graduated 14th (out of 750) from TED Ankara College; and later became 203rd (out of an approximate 1.5 million students) in the Central University Entrance Examination in Turkey (top 0.013%; corresponds to a perfect SAT score-99.9866 percentile). He was accepted to Middle East Technical University, Department of Industrial Engineering in 1993.
Education and Career[edit source | edit]
Ölmez, upon graduation from Middle East Technical University's Department of Industrial Engineering in 1997, began working as a research and teaching assistant at the same department. He wrote a masters thesis, named "Rationality of Organizations in Turkey", which had wide recognition and was later awarded with a thesis of the year award. Ölmez worked under the supervision of Prof. Muhan Soysal while writing his thesis, who is another management guru that had been the teacher of many famous Turkish leaders like Mehmet Ali Berkman, Ersin Özince, and İsmet Alver.
Ölmez later went on to work at Atılım University, and participated in the foundation of the Department of Industrial Engineering there.
Between 2001 and 2007 Ölmez lived in Fairfax, VA while attending George Mason University for his Ph.D. studies. While in U.S. he worked with Prof. Alexander H. Levis, an established systems engineering researcher and the former Chief Scientist of the U.S. Air Force. Concurrently, he began teaching classes at George Mason University's School of Management as an adjunct faculty. Ölmez mainly grew his research interests into Computational Analysis of Social Systems, over here at the System Archictectures Laboratory of George Mason University. Ölmez also collaborated with other researchers at the Center for Computational Analysis of Social and Organizational Systems (CASOS) of Carnegie Mellon University under shared research objectives. Before returning back to Turkey, Ölmez briefly worked as a management consultant at the Office of the Director of Treasury Operations under the U.S. Department of the Treasury.
Investing Career[edit source | edit]
Ölmez developed an interest in the stock markets upon returning back to Turkey at the age of 31. He acquired the value investing approach of Warren Buffett, which Buffett himself learned through a lecture taught by Benjamin Graham at the Columbia Business School. As many other value investing students do, he started by reading Berkshire Hathaway annual letters to shareholders. He claims to have studied the histories of 4000+ North American businesses, defunct and existing. Ölmez bought his first stock after his 30s but became significantly successful in the investing business. Between the years 2012 and 2015 he compounded the assets under his management by an annual 15% returns. Ölmez describes his style of investing as:
"a combination of Peter Lynch's and Warren Buffett's...First I pick 50 good stocks as Lynch does, then eliminate 47 of them to finally buy the 3... I spend a good deal of time to doctor an already good stock selection; eliminate redundancies, and pick the one right tool."
Published works[edit source | edit]
A. H. Levis, Smriti K. Kansal, A. E. Olmez, and Ashraf M. AbuSharekh. Computational Models of Multi-National Organizations. In: Social Computing, Behavioral Modeling, and Prediction. Springer. 2010-12-2. ISBN 9781441945976.
Computational Design and Analysis of Multinational Organizations: Theoretical Perspectives and Empirical Findings about Culture-Performance Link in Heterogeneous Coalition Organizations. Saarbrücken: VDM Verlag. 2008-05-21. ISBN 9783639022841.
Olmez, A. Erkin; Sumer, H. Canan; Soysal, Muhan (2004-04-01). "Organizational Rationality in Public, Private and Multinational Firms in Turkey". Inf. Knowl. Syst. Manag. 4 (2): 107–118. ISSN 1389-1995.
Honours, decorations, awards and distinctions[edit source | edit]
See also[edit source | edit]
- Chief Scientist of the U.S. Air Force
- George Mason University
- Middle East Technical University
- Value Investing
- Warren Buffett
References[edit source | edit]
- "TEPCO'ya yatırım yaptı, 10 kat kazandı.". www.fortuneturkey.com. Retrieved 2015-12-04.
- "Tokyo Electric Power Company (TEPCO) Struck By The Tsunami Disaster Is Now A 10 Bagger". www.briefingwire.com. Retrieved 2015-12-04.
- Tsunaminin Vurdugu Tepco 10 Kat Kazandırdı, Hürriyet Gazetesi, 27.08.2015
- "Parlar Vakfı". www.parlar.org.tr. Retrieved 2015-12-03.
- Olmez, A. Erkin; Sumer, H. Canan; Soysal, Muhan (2004-04-01). "Organizational Rationality in Public, Private and Multinational Firms in Turkey". Inf. Knowl. Syst. Manag. 4 (2): 107–118. ISSN 1389-1995.
- "Muhan Hoca - Haşim Akman | Kitapyurdu". www.kitapyurdu.com. Retrieved 2015-12-03.
- "System Architectures Lab: People: Prof. Alexander H. Levis". sysarch.gmu.edu. Retrieved 2015-12-03.
- "2003 IEEE International Conference on Systems, Man and Cybernetics [front matter]". IEEE International Conference on Systems, Man and Cybernetics, 2003 4: i–lii. 2003-10-01. doi:10.1109/ICSMC.2003.1244357.
- Computational Design and Analysis of Multinational Organizations: Theoretical Perspectives and Empirical Findings about Culture-Performance Link in Heterogeneous Coalition Organizations. Saarbrücken: VDM Verlag. 2008-05-21. ISBN 9783639022841.
- Liu, Huan; Salerno, John; Young, Michael J. (2008-01-24). Social Computing, Behavioral Modeling, and Prediction. Springer Science & Business Media. ISBN 9780387776729.
- "Construct Publications | CASOS". www.casos.cs.cmu.edu. Retrieved 2015-12-03.
- "Değer Varlık Yönetim". degervarlikyonetim.com. Retrieved 2015-12-03.
- "Ev almak yerine etrafınızdaki mükemmel işlere doğru fiyatla ortak olun". http://www.ekovitrin.com/. Retrieved 2015-12-04.
- Liu, Huan; Salerno, John; Young, Michael J., eds. (2010-11-04). Social Computing, Behavioral Modeling, and Prediction (Softcover reprint of hardcover 1st ed. 2008 edition ed.). New York; London: Springer. ISBN 9781441945976.
- "METU | Graduate School Of Informatics | Awarded Theses". ii.metu.edu.tr. Retrieved 2015-12-03.