James Melcher '57 passed away 4/17/2023.

James L. James L. Melcher, 83, of New York City, a passionate fencer, elegant fly fisherman and prominent hedge fund manager with a gift for seeing what was coming next, died peacefully in New York on April 17th, 2023, surrounded by his family. James was born in North Adams, MA, on November 5, 1939, to Phillip and Lillian Melcher. He attended Mount Herman High School and Columbia University. James learned to fence when he joined the Columbia team as a freshman. He fell in love with the sport, later became a member of the Fencers Club, and went on to earn gold medals at the Pan American Games in 1963 and 1971. He was U.S. Epee National Champion in 1971 and 1972 and represented his country in the 1972 Olympics Games in Munich. He remained dedicated to the sport, serving as President and Chairman of the Fencers Club, acting as a mentor to young athletes, and leading the effort to create a permanent home for the Club in New York City. In 2014, James was inducted into the USA Fencing Hall of Fame. After graduating from Columbia in 1961, James went to work on Wall Street, first in equities, later forming a venture capital fund, and then in 1979 founding the hedge fund Balestra Capital. Named for a fencing move consisting of a quick jump forward, Balestra reflected his acumen as an investor. "In both fencing and investing," he once said, "it takes more than strength. It takes discipline. You need to stay calculating, cool, and in control of your emotions." James was known to go against the crowd, to see trends others could not, and to have the courage of his convictions. He adopted the motto for the firm, "Do right, fear not." James was well known for successful contrarian moves, most notably his anticipation of the mortgage crisis of 2007. At its peak Balestra had $2.6 billion under management and was ranked by Barron's as the #2 hedge fund in 2008 and 2009. "Jamie" as he was called by friends and family, was beloved for his sense of humor and gentle kindness. His children and later his grandchildren grew up fishing with him, laughing at his silly puns and eating his special "grandpa eggs" on Sunday mornings. At the Fencers Club, a community he loved, James's generosity supported new generations of fencers of all backgrounds to learn, compete, and thrive, including a number of Olympic champions. James was greatly philanthropic, and his giving spirit extended to many organizations and individuals. In 2014 he was honored by Columbia University with the prestigious John Jay Award for distinguished professional achievement. James is survived by his wife, Dr. April Benasich; his sister, Nancy Yuasa; his children, Charles Melcher, Liz Melcher Luckett, Kristin Benasich, and Wendy Atkinson; and seven grandchildren, Daniel, Grace, Oscar, Connor, Parker, Finley and Shepard. He was preceded in death by his first wife, Barbara Melcher and his brother, Carl Melcher. Donations can be made in his name to the Fencers Club or the Alzheimer's Drug Discovery Foundation.

Published by New York Times on Apr. 20, 2023.