Most people on Wall Street know him as the leading mind in hedge funds and financial engineering.
Time Magazine recently named him to its list of the 100 most influential people in the world.
And it wouldn't be exaggerating to say that his latest project could change the world.
It involves using collateralized debt obligations to cure cancer. We wrote about this last year. But in case you missed it, the idea would be using "research based obligations" or RBO bonds, that you could divide into tranches with different risk levels based on stages of research into cancer drugs. Lower rated, higher yield notes would be available at the beginning of a drug trial, with progressively less riskier notes as the trial proceeds.