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Dan Chung rebuilt a decimated Alger Management after 9/11. He's still finding the market's winners

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Core Development: Dan Chung rebuilt a decimated Alger Management after 9/11. He's still finding the market's winners
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Market & Financial Impact: The CEO and chief investment officer at Fred Alger Management survived the attack by chance. He was tasked with reconstruction after 35 staffers died.
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Actionable Insight: Monitor price volume action at market open; check key technical support/resistance levels.

Daniel Chung, the CEO and chief investment officer at investment firm Fred Alger Management, survived the Sept. 11 attacks on the World Trade Center by chance.

That morning a quarter century ago, the then-tech analyst started his day at the Intercontinental Hotel in Midtown Manhattan, searching for answers on why a key stockholding hadn't been performing well. The company's chief executive was set to make a presentation that day.

"I was running late, so I went straight to the meeting," Chung said. "The meeting starts. CEO walks out. He's barely started, and somebody comes from, I guess, the hotel or the AVs — you know, the audiovisual staff – and hands them a note."

"He looked at it, and he said, 'I'm not sure we can continue," Chung added. "There's been a plane or something at the World Trade Center.'"

Alger's offices were on the 93rd floor of One World Trade Center, the North Tower, the first building hit, at 8:46 a.m.

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Official Publisher Attribution: This report is aggregated from CNBC. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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