This episode of The Derivative discusses the current state of Volatility – and how to use those measurements in diversifying investment strategies with Jeremie Holdom and Colin Suvak of LongTail Alpha, an investment firm focused on tail risk hedging. The guests share insights into their work, analyzing volatility across asset classes and constructing customized hedging solutions for institutional investors.  Jeff, Jeremie, and Colin do something a little bit different in this pod – walking through several graphics and charts to discuss notable stats and trends in implied and realized volatility pricing in not just equities, but across various asset classes including energies, Gold, interest rates, and more. Check the episode out on YouTube if you're wanting to see their beautiful charts. They also explore topics like the influx of options selling and its implications. They dive into topics like interest rate movements, inflation effects, fixed income-equity correlation shifts, and how these influence positioning across strategies like tail hedging and trend following.  Learn about Longtail's customized approach to constructing hedging solutions around tail hedging costs and frameworks like generalized optionality and how the firm evaluates basis risk. This discussion also covers challenges measuring counterparty risk and the interplay between explicit and implicit hedging strategies. Sit back and look at how professionals interpret shifting market dynamics and construct diversified portfolios using alternative risk mitigation approaches. SEND IT! Chapters: 00:00-02:24=Intro 02:25-08:40= Cal vs Can cost of living & backgrounds among the tails 08:41-18:11= Generalized optionality & Risk mitigation – Long vol, the core of basis risk 18:12-24:25= Diversifying strategies, hedging Nasdaq, customized approach, & tail risk hedging 24:26-37:24= Keeping tabs on all type of Vol – why does it matter? Basis risk across all asset classes 37:25-51:32= Implied vs realized Volatility, Volatility skew & short-term vol 51:33-01:00:44= The Vol selling influx / 0DTE 01:00:45-01:15:27= The shake out & blending all pieces together From the episode: Taming the tails with LongTail Alpha’s Vineer Bhansali on The Derivative 

In this in-depth conversation, Jeff Malec picks the brain of veteran quant Doug Greenig about pursuing trends on a truly global scale. Greenig takes listeners on his fascinating career journey, from cutting-edge fixed income modeling at Goldman Sachs to managing risk at MAN AHL's pioneering CTA firm. He explains how this experience led him to establish Florin Court Capital and develop novel ways of accessing over 500 international markets. Greenig and Malec engage in a lively debate about capturing narrative shifts, the effects of high-speed trading, and how allocators can balance exposure to alternative trends. Listen in on unique insights into operational challenges like structuring swaps to trade illiquid assets. Greenig also discusses how Florin Court scales risk across a massive portfolio while still delivering the crisis protection allocators seek. This revealing episode pulls back the curtain on one firm's quest to follow profits wherever macro winds may blow. SEND IT! Chapters: 00:00-01:48=Intro 01:49-04:21= Diverse economies 04:22-22:25= Economist turned PH.D, fixed income derivatives & trend potential in emerging markets 22:26-37:00= Alternative markets/Alternative trend: Exposure to CTAs, global orientation & unique opportunities 37:01-51:20= Refining models, when narratives change, signal strength & volatility targeting 51:21-01:01:34= What drives trend, removing the narrative & moving into a complex world 01:01:35-01:06:59= Florin Court...the apartment building? From the episode: History of Managed Futures whitepaper Guide to Trend Following Follow along with Doug on LinkedIn and for more information on Florin Court and their team visit florincourt.com Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, follow us on Twitter at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

This episode is a fascinating deep dive into the complex world of logistics. Our guest is Chris Jamroz, CEO of Roadrunner, a serial logistics entrepreneur who has indeed seen and done it all over his career. Chris provides colorful anecdotes about his past 100+ acquisitions and turnarounds, including the challenges and lessons learned along the way. He then gives listeners an up-close look at his current ventures - Roadrunner, an LTL shipping company known for its blazing-fast delivery speeds, and Global X, a rapidly growing charter airline. The wide-ranging discussion touches on how the pandemic disrupted global supply chains and the "nearshoring" trend of moving manufacturing closer to home. Chris also shares insightful perspectives on economic conditions, the potential and limitations of automated trucking, and the value private equity brings to facilitating turnarounds. For those interested in alternative investments, Chris even discusses how his family office allocates to areas like equipment leasing, real estate, and hedge funds. Overall, it's a very entertaining and educational podcast that provides a true insider's view of the logistics industry. SEND IT! Chapters: 00:00-01:19= Intro 01:20-06:49= Extracting value across the continent 06:50-13:45= Quality freight transportation, LTL Players, allure of trucking life, 100+ acquisitions 13:46=26:00= Logistics & the global economy, freight recession post COVID spikes & the global supply 26:01-33:58= Rate pain points, the trigger effect, inflation & automated trucking – is it even possible? 33:59-45:20= Private equity = Devil or angel? Removing barriers & Deserving the right to grow 45:21-51:10= LyonIX & other ventures Learn more about Chris: https://chrisjamroz.com/ & Roadrunner and follow along with Chris on LinkedIn @ Chris Jamroz ⁠& Roadrunner Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, follow us on Twitter at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and our hos

Brent Belote, founder and CIO of Cayler Capital, joins the podcast to discuss the growth of his now 5 year systematic oil trading strategy. He provides insights into analyzing supply and demand fundamentals and using quantitative models to capitalize on events in the physical oil market. Brent also shares lessons from starting his own fund and managing risk at a smaller scale. Hear about trends in the energy sector, including the impact of geopolitics, refining capacity, and green-flation (just how close are we?). Brent offers his outlook on oil prices and explores other areas of knowledge and experience in the energy sector. This one is an engaging conversation you won’t want to miss, so kick back and explore with us as we navigate through commodity markets and the experience of building a successful investment firm. SEND IT! Chapters:  01:31-02:59= Skiing and family growth 03:00-10:32= Advances in the strategy, event driven success & Oils gone flat 10:33-27:47= Building a business, podshop thoughts & multi-strat models 27:48-36:02= Oil in ’23 – warmer temps means spiking refining numbers 36:03-43:42= Greenflation – are we ready, are we even close? 43:33-47:33= Biden administration issues and the Red Sea From the episode:  Commodities Miami panel featuring Brent Previous episodes of The Derivative with Brent: Crude Oil goes Negative… WHAT^%$# A Crude Oil Cornucopia: Covid, Crack, CSOS & Contango with Brent Belote Follow along with Brent on Twitter @brentbelote, on LinkedIn and check out Caylercapital.com for more information! Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠

Join us for the second half of our panel discussions during this year's Hedge Fund week in Miami as we explore increasing accessibility of alternative investments through new ETF products and strategies. We’ve got Rodrigo Gordillo taking reigns from the quantitative perspective, Jerry Parker talking trend following, Bob Elliot on replication and Jay Pestrichelli, options guru, guiding us through hedge fund strategies, discussing their day-to-day responsibilities and tasks, highlighting differences in their approaches despite operating under the broad financial services umbrella. We dive into challenges around educating investors on sophisticated strategies as well as recent regulatory changes that allow new product structures that are making alternative approaches more accessible to a wider range of investors. Topics discussed include quant fund management processes, trend following across 400 markets including single stocks, and harnessing options decay in a new ETF. Challenges of communicating performance during periods of potential underperformance are being addressed such as election year impacts and whether strategies position based on outcomes, capacity constraints of highest Sharpe strategies and limitations of full replication, along with democratizing diversification strategies through return stacking ETFs. Sit back and gain knowledge on the expanding opportunities and accessibility in the alternatives space, with room for continued advances as innovation progresses, SEND IT! Chapters: 00:00-01:48=Intro  01:49-14:42= Intros & the Day-to-Day work ethic 14:43-28:45= Hedge fund replication, ETFs for retail investors & financial accessibility 28:46-45:22= Democratizing diversification through ETFs, market trends & election year impact 45:23-55:53= Hedge funds generating alpha, investments strategies & ETF operations 55:54-01:08:01= Managing expectations, Innovations & the future of investing From the episode: Miami Hedge Fund week 2024 Part 1: Commodities Follow along with this panel on Twitter & LinkedIn: @rjparkerjr09 , @RodGordilloP,

From NASA to Star Trek, Brad Barrie and David Johnson of Dynamic Wealth Group discuss how their shared interests inspired the development of their diversified mutual fund, which blends equity exposure with discretionary global macro allocations. They explain how this approach seeks to provide smoother returns through non-correlated exposures. Brad and David also delve into their backgrounds in aerospace, finance, and alternative investments. Tune in to learn how discretionary macro strategies can offer unique diversification benefits compared to systematic trend following. This episode discusses portfolio construction techniques including dynamic rebalancing models for mutual funds. Throughout, analogies from Star Trek, NASA, and other aeronautical aspects provide entertaining parallels for investment concepts, even attending and speaking at a Star Trek “con” (not in costume)to connect with individual investors! Jump on the starship enterprise with us, as we move from orbit to warp speed. Engage! Chapters: 00:00-01:32= Intro 01:33-05:02= Las Vegas: a place for peace & tranquility 05:03-21:44= Diversified portfolios for Mutual funds, NASA, minimizing the downside and correlation to everything 21:45-36:28= 60/40 Bonds – Bring on Managed Futures and direct exposure 36:29-49:03= Global macro commodities, offense, the alternative to alternatives & driving the return 49:04-57:21= Star Trek, a blossoming career incentive – meeting Shatner, Sci-fi language and investing for Trekys 57:22-01:02:50= Treky favorites From the episode: Blog post – It may be a slow news day, but… Blog post – The picture from space that shows why commodities are non-correlated to the stock market Blog post – Set Phasers to ‘Systematic’ Dynamic Blog post: What Star Trek can teach you about investing & financial planning Follow along with Dynamic Wealth on Twitter

This packed panel discussion featuring Tim Pickering (Auspice), Brent Belote (Cayler Capital), Gerardo Tarricone (Arion) and Derek Stroke (Equanimity Advisors) focused on commodities as diversifiers and opportunities in commodity trading and investing. Our panelists discussed topics like the reliability of commodities in portfolios, ESG factors, the potential for a commodity supercycle, and educating the next generation of commodity investors. They debated drivers of long-term commodity prices and the impact of trends like energy transition. Panelists also highlighted volatility in energy markets, shifts toward separate managed accounts, inflation expectations, and strategies for including commodities in diversified portfolios. This session illuminated both risks and rewards for navigating evolving commodity markets, leaving attendees energized to pursue these opportunities through dedicated managers and stay tuned for what's in store in the world of trading and beyond. – you need to check this one out! SEND IT! Chapters: 00:00-01:32= Intro 01:33-13:25= Commodities as diversifiers with industry experts, EV’s/ greenflation & energy trading opportunities 13:26-20:53= Trading commodities for alpha & diversification 20:54-30:37= Commodity supercycles & its potential impact on prices & Volatility and China demand 30:38-44:02= Inflation, central bank policies, and educating the next generation 44:03-54:30= Questions from the audience: “Drill baby Drill”, weaponizing commodities & India’s middle class 54:31-01:00:22= Final thoughts on the future outlook for commodities Panelist Performance Stats: Click here You can follow along with all our panelists on LinkedIn @ Brent Belote, Tim Pickering, Gerardo Tarricone & Derek Stroke Don't forget to subscribe to

Welcome to the start of a new year and another exciting season of The Derivative Podcast. We're beginning with a bang, featuring DBi’s hedge fund guru, Andrew Beer. Picture the ideal blend of Wall Street expertise and accessible insights - that's what we're delivering in this episode! We’re talking with Andrew about replicating strategies in this episode and if it works. Andrew is sharing his journey, from establishing a commodity firm to making groundbreaking strides in the hedge fund world, where he adds flavor with personal anecdotes from his financial adventures, diving into private equity and managed futures investing - providing beta for those managed futures, replicating hedge fund performance with the help of ETFs, using managed futures as a diversification strategy, unveiling his creative methods to revolutionize investing. We come at all angles in this one, questioning the risks and limitations of replication, utilizing different markets to expanding portfolios, and even getting into the “whipsaw” effect many trend followers saw last year with its unpredictable events. This episode is a feast for finance enthusiasts and newcomers - filled with knowledge, humor, and a whole lot of excitement. Don't just listen; Turn up the volume and brace yourself for an episode that's as fun as it is informative — SEND IT! Chapters:  00:00-03:17= Intro 03:18-9:55= Commodities to Private Equity 9:56-24:54= You’re not a Quant, replicating models and finding your vision 24:55-49:05= Where’s the line? MF against everyone else, asset allocation limitations and modeling flows 49:06-01:08:51= Top down, bottom up: The structure, the drivers and year of the whipsaw 01:08:52-01:19:14= 10 markets expanding your portfolio 01:19:15-01:27:27= Limits of replication & the dangers of private equity   From the episode: Replicating Babies, Trend following, hedge funds, and Warren Buffet with Corey Hoffstein https://dbi.co/news-research/ Follow along with Andrew on Twitter @andrewdbeer1, LinkedIn

Thanksgiving is just a week away in the US, marking the end of an excellent year for The Derivative and we're inviting you to join us at the podcast table for a bountiful episode delving into the unique flavors of managed futures and fundamental expertise. As we carve into the Thanksgiving spirit, The Derivative is serving up a feast of insights with Patrik Safvenblad, the mastermind behind VOLT Capital Management. In this compelling conversation, Patrik unveils his approach as a fundamental specialist in managed futures programs, offering a unique perspective that distinguishes his strategies from the norm. We delve into the differences between pod shops and in-house multi-strats, explore the penchant for shorter-term models, and uncover the meticulous process of managing over 9000 signals. Join us as we navigate the complexities of commodity quant and gain invaluable insights into quantitative strategies just in time for the Holiday season — SEND IT! Chapters: 00:00-02:09 = Intro 02:10-05:30= Dark days in Stockholm 05:31-18:09=Professor to Quant: early skipping stones to “across the pond”, building a team & getting diversified 18:10-26:44= Shaping Fundamentals, short-term models & configurations in machine learning 26:45-41:49= Selecting signals, gathering data & adjusting portfolios 41:50-53:14= Efforts of running 9000+signal, portfolio level constraints & Podshops vs in house 53:15-01:01:50= Positive Skew, risk management & opportunities 01:01:51-01:06:33= Off the beaten track From the episode: Allocating to Alts with RPMs Alexander Mende on the Derivative Follow along with Patrik on LinkedIn and visit voltcm.com for more information! Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, follow us on Twitter at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and our host Jeff at

Get ready to savor an episode of The Derivative that's anything but run-of-the-(corn) mill, featuring a guest who's serving up some fresh and unconventional perspectives. That's right, we're delving into the heart of the snack world where the notion of sturdy, thick chips and delicate, thin chips is more than meets the eye. Prepare to have the simplicity of your favorite tortilla chip upended, revealing the captivating intricacies that fuel everyone’s favorite salsa, guac, and queso vehicle, the tortilla chip.   Zack Gazzaniga, is the visionary behind Zack's Mighty Tortillas, a company rewriting the rulebook on what it means to be a tortilla chip. His entrepreneurial journey takes us from the humble beginnings of a small natural food startup to helping build a 60-SKU condiment brand at Sir Kensington's. Throughout this episode, he generously shares his insights on expanding product lines, managing complex supply chains, and navigating deals with corporate giants. But that’s the boring business stuff… stay for the talk on seed hunting in Italy, making tortillas, then chips – how many growing cycles our US soil has left, the many nuances in GMO vs non-GMO labeling, and the informative history of Corn you didn’t know you needed. This episode is a must-listen for fellow entrepreneurs and tortilla chip lovers – SEND IT! Chapters: 00:00-01:39= Intro  01:40-11:50= Buongiorno! Let’s talk: Origins, Sir Kensington’s, flavor, & the guacable chip 11:51-25:19= Economic building blocks, Investing in food, CAP-X deals, & intense integration 25:20-36:29= A brief history of corn: Quest for the golden kernel 36:30-50:24= The tortilla chip: From field to bag & Going organic – why it makes sense 50:25-01:01:41= Ethanol? Water? Growing and production concerns / Short-corn & gene editing 01:01:42-01:06:03= Where do we get them? & the Takis people... From the episode: Beautiful Corn: America’s Original grain from seed to plate (Book)

In the constantly changing and often unpredictable industry that is wealth management, is it possible to systematize an asset allocation approach? Might you even apply trend following to the problem? On this episode of The Derivative, Jon Robinson, the CEO and co-founder of Blueprint Investment Partners, draws upon his unique experience on both sides of the trend-following fence: proprietor and customer. He reflects on his early days working on the New York Stock Exchange floor and delves into the intricate process of shifting from traditional research methods to systematic investment. Join us as we explore the subtleties of trend following, its evolution over time (Jon’s evolution over time), and the strategies that Jon and his team at Blueprint Investment Partners employ. Our conversation sheds light on the fundamental principles of maintaining strong advisor-client relationships, the changing landscape of portfolio management, and what the future of the investment advisor space might look like. Tune in for an engaging discussion on the effectiveness of trend following not as an investment in its own right, but as a filter on other investments— SEND IT! Chapters: 00:00-01:46=Intro 01:47-05:20= Greensboro HQ 05:21-17:21= The wild west of futures, entrepreneuring & trend following models 17:22-36:27= Piecing together the Blueprint with a trend following edge / simplifying the implications / Enter in.. Chesapeake 36:28-48:28= Managing the spectrum & private hedge funds 48:29-58:02= The future of the advisory space & behavior adoption 58:03-01:08:24= RIA Or Private Client? Helping an investor From the episode: Trending following plus nothing with Jerry Parker: The Derivative Trend following turtle tails (and tales) with Jerry Parker: The DerivativeTrend Following guide Follow along with Jon on LinkedIn and his team on Twitter

In commodity trading, where volatility reigns supreme, finding an edge can be daunting. In this episode of The Derivative, we switch up our normal Commodity Trading talk with our non-trend following guest, Jae-Min Hyun of NWOne. With extensive experience in commodities trading and a quant background that spans Wall Street firms, hedge funds, and a new talent incubator, Jae-Min brings a wealth of knowledge to the table.  Join us as we explore the intricate intricacies of building a systematic commodity trading strategy using fundamental inputs instead of just price, why inefficiencies equal edge, the importance of risk management, the role of machine learning, and the rest of the challenges of navigating this dynamic market. Jae-Min Hyun's insights shed light on the complexities of this niche within the world of finance, offering valuable perspectives for both seasoned traders and those seeking to understand the nuances of commodity trading — SEND IT! Chapters: 00:00-01:32= Intro 01:33-15:49= NYC is wet, but back! An early start at Morgan Stanley constructing commodities & building Quants 15:50-29:25= Exacting Alpha in inefficiencies, market fundamentals, directional futures & diversification 29:26-43:20= Calendar spreads (delivering exposure) and all models working in concert 43:21-54:04= Why only commodities? Research, systematic strategies & the competition 54:05-01:05:46= Commodity exposure, alpha generation & A.I. in quant trading From the episode: NWOne Diversified Strategy The Predictors - Book Semi-Annual Rankings Whitepaper Follow along with Jae-Min on LinkedIn and for more information visit NWOne's website www.nwone-llc.com Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, follow us o

Philadelphia is renowned for various iconic symbols, including the Liberty Bell, Rocky Balboa, the famous Philly cheesesteak, and, most recently, RCM's Live Panel Discussion "Is 60/40 Dead? Can Alternatives Fill the Void?" This engaging panel discussion features industry leaders Tim Pickering, Corey Hoffstein, and Brian Meloon, with the insightful Kevin Davitt giving an insightful intro. It was so compelling that we decided to turn it into an episode of the Derivative podcast. We kick off our discussion by diving into the rapidly evolving landscape of the index options market and the financial industry as a whole. Explore the critical role of adaptability in the face of exponential technological advancements, with a spotlight on NASDAQ's MDX options leading the way. But there's more! Tim Pickering, Corey Hoffstein, and Brian Meloon share pivotal moments from their careers, emphasizing the importance of innovation during challenging periods. We'll also delve into quantitative investing strategies, the intriguing concept of return stacking in ETFs, and why diversification is necessary in your investment portfolio — SEND IT! Chapters: 00:00-01:31 = Intro 01:32-14:18 = Adapting to a changing landscape with Kevin Davitt 14:19-22:24 = Introductions: Ah Ha! moments – what got you in the industry 22:25-36:38 = Adapting to market shifts 36:39-43:39 = Why should you care? 43:40-59:43 = What are investors looking for – Why Commodities? Why Systematic? Why Leverage? 59:44-01:04:25 = Why now? 01:04:26-01:17:17 = Open for questions From the episode: Flirting with Models podcast Liquidity Cascades – Newfound Research Follow along with Tim Pickering on Twitter @AuspiceTim, Corey Hoffstein @choffstein and Brian Meloon on LinkedIn Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative

In the ever-evolving world of finance, change is the only constant. Like the shifting tides of the market, options trading has transformed from monthly expirations to weekly and even daily strikes. It's like going from a leisurely stroll to a thrilling daily marathon in the world of trading. Alongside these shifts, hedging strategies have also had to adapt, especially after the rollercoaster ride that was 2018. On this episode of The Derivative, we're taking you on a journey through the financial landscape with none other than Russ Kellites from Alpha Centric Funds. From the intriguing story of San Francisco's economic landscape to the evolution of computer science and AI, to the transition from Goldman Sachs to starting a fund - we're covering it all — SEND IT! Chapters: 00:00-01:42= Intro 01:43-10:23= Hard hits in San Fran & Building blocks of A.I. 12:24-22:21= Hitching a ride w/ Warren Buffet & Designing a Fund 22:22-39:17= Diversifying Options & the 4/5 Quadrants of Volatility 39:18-53:07= Market Environments (Long & Short positions) 53:08-59:41= Market Participation 59:42-01:05:22= The value of time: It’s a long-term investment From the episode: Portfolios of Power Futures with Tim Kramer LJM – The Autopsy Follow along with Russ on LinkedIn and for more information visit alphacentricfunds.com Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, follow us on Twitter at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and our host Jeff at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@AttainCap2⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ , and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, and ⁠

From front-running commodity index rolls to trading spreads, we're taking you on a bit of a historic journey with Emil Van Essen and Bryan Kiernan of Katonah Eve. Join us as we explore the evolution of their strategies and firm, while talking the world of commodities. In this episode, we'll uncover the evolution of Katonah Eve, from pulling data ahead of the game to mastering roll yields and transitioning into the world of spread trading. We'll also discuss what it takes to survive so long in this business, going institutional for in-house operations, and how they have more than just skin in the game, they’re putting skin in the the pre-game as well to test new sources of Alpha. We unpack what makes their Long/Short Commodity strategy different, and how long/short differs from trend, and explore topics like term structure, spread trading and data, the importance of diversification, and the importance of testing ideas with live ammunition. And we can’t talk with Emil without talking about the energy patch, the crypto space, and China – all of which we touch on. SEND IT! Chapters: 00:00-01:57= Intro 01:58-4:38= Mountain Bike Racing? 3:56-15:35= Evolution of EVE: Pulling data ahead of the game & Roll yields to spread trading 15:36-22:38= Expanding in-house infrastructure, market making, and the constant search for Alpha 22:39-37:15= Long/short Commodities, Term structure, Spread vs Trend & Diversification in Commodity markets 37:16-50:34= The Energy guy, Alpha in Crypto & inside China From the episode: Crude Oil goes negative…What ^%$# - Derivative podcast Follow along with Emil and Bryan on ⁠LinkedIn⁠ for more information! Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, follow us on Twitter at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and our host Jeff at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@AttainCap2⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or

Is electricity a commodity? If not, why not? If so, how do you get exposure with the demand for electricity set to possibly outstrip the world's forthcoming technological advancements. Join us on a high energy episode of The Derivative by RCM Alternatives for an in-depth exploration of "Electrifying America" with Timothy Kramer, a seasoned energy and power trader and CEO of CNIC Funds – the group behind the AMPD electricity ETF. In this stimulating conversation, Kramer sheds light on the difficulties of accessing the power market, why electricity should be part of any inflation-protecting commodity investments, and what the overall landscape looks like for America's electrification journey, unveiling three key pillars: importance, inflation, and imbalance.   From the coming era of all-electric vehicles to the challenges facing renewable energy, Kramer navigates the complexities and opportunities. He also delves into the creation of innovative indices and the dynamic interplay between power and commodities — SEND IT! Chapters: 00:00-01:53 = Intro 01:54-03:53 = Texas is How Big? 03:54-17:38= The Electrification of America, Power’s Supply/Demand 17:39-23:48= ESG push back & removing carbon = Carbon Neutral 23:49-36:47= Creating an Index- AMPD: Deregulation, power generation & retail providers 36:48-44:12= The power players in the power market 44:13-54:23= Carbon offset vetting and commodity exposure 54:24-01:00:42 = Is Bitcoin mining a legit use on power grids? From the episode: The Electrification of America https://www.cnicfunds.com/ The Kaoboy of convertible Arb with Michael Kao Derivative episode Super storms, mathematical modeling, and hurricane hunting with Dr. Jeff Masters Derivative episode Follow along with Timothy on

Why Systematic? Why CTA? Why Now? These are common questions on the minds of many professionals in the Managed Futures field. On this episode of the Derivative podcast, host Jeff Malec takes on a unique role as a featured guest on a panel recently hosted by RCM Alternatives in Chicago alongside Cohen & Company and Mercer. While Jeff is usually the one leading the discussions, this time, he gets the opportunity to be a participant alongside other industry experts. Together, they delve deep into the inner workings of various trading models. The main focus of the discussion is to understand how these models function, distinguish between pod-shops and multi-strat data infrastructure, and explore the role of A.I. in the industry. Additionally, they discuss the differences between systematic macro and trend-following approaches. Joining Jeff on the panel are Joe Kelly from Campbell, Brian Proctor from EMC, and Rodrigo Gordillo from Resolve. The conversation is both insightful and engaging, shedding light on the world of Managed Futures Hedge Funds — SEND IT! Chapters: 00:00-01:42=Intro 01:43-15:41=Approaching CTAs – Why now for systematic macro? Inflation, stacking (yes + this) 15:42-25:57=Current state of rising interest rates & trend following diversification 25:58-40:25=Machine learning: Parameter sets, Data, managing risk, A.I., & no emotions 40:26-48:49=Discretion: When, Why, or do we use it? 48:50-01:11:06=Questions? Let's open it up to the audience Follow along on Twitter with Rodrigo Gordillo @RodGordilloP, Mercer @mercer, & Cohen & Company @CohenCPA for more information! Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, follow us on Twitter at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and our host Jeff at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@AttainCap2⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ , and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠

What do you do when you’ve already done everything there is to do in trend. Managed billion of dollars: check. One of first to run a trend following mutual fund: check. Trend following on individual equities: check. You push the envelope again, and convince the folks that create ETFs that you actually can pack your fully diversified equities plus futures portfolio into an ETF wrapper. On this episode of The Derivative, we sit down with the legendary Jerry Parker, a former Turtle Trader who’s newest effort is an ETF product called ‘Trend Following Plus Nothing’. Jerry and Jeff explore a wide range of topics, including whether multi-billion CTAs sold their (trend) souls to get there, just why nobody really tries to trend follow on individual equity names. Seeing a green light when they tell you it can’t be done. Jerry also opens up about finding the perfect balance of personal risk and mental fortitude to achieve success in trend following while sharing some personal anecdotes, including his love for pet birds.  Discover the power of trading components instead of an index of components, the impact of Fed limits on trend, and the intricacies of volatility targeting (hint: Jerry doesn’t believe in it). We'll also delve into the art of portfolio construction, the virtue of trend following impatience, the true essence of trend following as an inflationary hedge, and so much more — SEND IT. Chapters: 00:00-02:00=Intro 02:01-04:50= No birds allowed on Long Island, NY 04:51-16:38= The journey creating the new ETF needed diversification 16:39-30:02= Replication – what’s your limit? Hard=Simple/Simple=Hard 30:03-41:45= Market Makers, Outlier Moves, and what’s deserving of your portfolio 41:46-48:50=Embracing the Trend Following philosophy 48:51-01:00:02= The narrow road taken 01:00:03-01:03:29= Trend following+nothing From the episode: The Swiss(Franc) isn’t all that neutral – blog post Trend Following Turtle Tails (and Tales) with Jerry Parker - podcast Check out our Trend Following whitepaper! Follow along with Jerry on

Jason Buck is back in this follow-up, Part II episode rehashing all the goings on at Global EQD '23, and he's continuing the conversation on equity market hedging, not to mention interest rate, currency, and more hedging – plus volatility markets and investment strategies with host Jeff Malec.  Jason and Jeff discuss what was discussed, including the influence of Fed policy, abnormally low volatility in equities, cross-asset volatility, and the relationship between skew and put options. Tune in to discover the risks associated with high-frequency trading (HFT) firms in the zero-day-to-expiration market and gain insights into balance and risk management.  Explore supply and demand dynamics, black swan events, and the perspective of market makers. Gain valuable knowledge on the interplay between institutional and retail traders, the importance of diversification in building portfolios, and the comparison between systematic and discretionary approaches to investing — SEND IT! Chapters: 00:00-01:31=Intro 01:32-10:07= Leaders in Vol – Monetizing Vol, Skew vs puts & commodity Vol can’t be suppressed 10:08-26:00= The volume of ODTE options & when retail flow becomes toxic 26:01-32:55= Complexity, probability & path dependency: Building a resilient portfolio 32:56-48:43= Systematic vs discretionary, the importance of dispersion 48:44-58:54= Fixed income factors and a panel too short In case you missed it: Check out Part I of this EQD Breakdown here! Follow along on Twitter with Jason ⁠@jasoncbuck ⁠and ⁠@MutinyFunds⁠ for all updates and also check out the website ⁠mutinyfund.com⁠ for more information. Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, follow us on Twitter at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and our host Jeff at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@AttainCap2⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ , and

We're doubling down on the knowledge and taking you through the high-stakes world of Volatility with a special "Derivative Podcast" straight from the world's entertainment capital, Las Vegas. Join host Jeff Malec and our panel industry heavyweights Cem Karsan, Luke Rahbari, and Zed Francis as they delve into the intriguing market dynamics and risk management world. From the role of Volatility as an asset class to the impact of retail platforms like Robinhood and TikTok, our panelists explore the ever-evolving trading landscape. Discover the power of probabilistic decisions in options trading, uncover the significance of liquidity, and gain insights into the art of positioning for success. These experts also shed light on the challenges of managing risk in an unbalanced options market, examine the role of market makers, and analyze the implications of the Federal Reserve's actions.  This episode provides a jackpot of insight surrounding the fascinating interplay between Volatility and macroeconomics, providing valuable perspectives on inflation, fiscal policy, and market trends — SEND IT! Chapters: 00:00-01:23=Intro 01:24-12:57= Approach to Volatility & its role in a portfolio 12:58-27:32= Playing the game & options liquidity 27:33-45:32= OTDE Options, hedging your risk, & who blows out in this market? 45:33-01:05:12= Art or Science? Systematizing a strategy / Effects of hedging Vol & short-term Vol in the markets 01:05:13-01:27:13 = Opening up for questions: Constraints on the Fed, Protection on the tails, Are the giants (large funds) in control? Follow along on Twitter with Cem Karsan @jam_croissant, and Luke Rahbari @luke_rahbari for all their updates and for more information visit kaivolatility.com, equityarmorinvestments.com, & convexitas.com Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, follow us on Twitter at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠