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PODCAST

The Derivative

RCM Alternatives

Welcome to The Derivative by RCM Alternatives, where we dive into what makes alternative investments go, analyze the strategies of unique hedge fund managers, and chat with interesting guests from across the investment world. Hosted by RCM Managing Partner, Jeff Malec, join us to take a ride through the world of alternative investments.

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All Episodes

01:31:00

A Four-Stack Pod, talking stacking assets with Return...

The Derivative ·

2025/03/20

This episode of the podcast piles on the knowledge about "return stacking" - the investment approach that lets you layer alternative assets and strategies on top of your traditional portfolio, like a perfect investment sandwich. Jeff Malec has stacked the deck with FOUR financial heavyweights - Mike Philbrick, Rodrigo Gordillo, Adam Butler, and Corey Hoffstein - each showcasing a "return stacking" ETF. We’ve brought together this team of experts to give you the blueprint for this

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00:59:24

Unlocking the Equity Risk Premium with Dividend Futures

The Derivative ·

2025/03/13

In this episode, Jeff Malec sits down with Rick Silva, the co-founder of Metaurus Advisors, a boutique asset manager. Rick walks us through Metaurus Advisors' innovative approach to understanding and trading the equity risk premium using dividend futures markets.Rick Silva provides insights into the firm's background in derivative markets and their goal of bringing fixed income securitization techniques to the equity space. He explains the concept of parallel tranche securitization applied

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00:49:07

Options give you Options with Scott Phillips of...

The Derivative ·

2025/02/27

In this episode, Jeff Malec sits down with Scott Phillips, the CIO of Lavaca Capital, to discuss the firm's journey in the world of options trading. Scott shares his personal background, from his start as an auditor of energy derivatives at KPMG to founding Lavaca Capital and navigating the complexities of options strategies. The conversation covers Lavaca Capital's evolution, from their initial focus on simple option structures to the expansion into more complex portfolios and the eventual

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01:13:45

Unlocking the Commodity Risk Premium with Kurt Nelson...

The Derivative ·

2025/02/13

Join us for an insightful exploration of the fascinating world of commodity futures with Kurt Nelson, co founder and Managing Partner of SummerHaven Index Management. Kurt shares his unique perspective, honed over decades of experience, on the rich history and evolution of commodity markets - from the Dojima Rice Exchange in 16th century Japan to the modern-day cocoa futures trading. Discover how SummerHaven's research-driven approach, including the firm's dynamic commodity index, aims to

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00:58:28

The State of AI, and AI in Alternative Investments...

The Derivative ·

2025/01/30

In this episode, we dive deep into the current state of AI… getting to its transformative impact on the alternative investments landscape. Our guest, Mohammad Rasouli, is a renowned researcher at Stanford University and the founder and CEO of AIx2, a leading AI solutions provider for private equity, venture capital, and hedge funds.Mohammad shares his extensive expertise on how AI is revolutionizing the way alternative investment firms operate, from streamlining due diligence and deal sourcing to

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01:12:13

A US state with a sovereign wealth fund? Utah’s new...

The Derivative ·

2025/01/23

In this first episode of 2025, we’re plunging right into the fascinating world of sovereign wealth funds with Peter Madsen, the CIO of Utah's School and Institutional Trust Funds Office (SITFO). Peter shares his unique perspective on managing a multi-billion dollar portfolio designed to support public education in the state for generations to come. From his personal background in skiing and outdoor adventures in the Wasatch mountains to the challenges of navigating Utah's rapid growth and

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00:10:18

General George Cashington had a Dream of a Grand...

The Derivative ·

2025/01/17

For our first episode of 2025 we wanted to take a different approach... Enjoy our full-blown parody of Nate Bargatze's 'Washington's Dream' – complete with satire of several key issues in private equity and private market valuations. Warning: May contain traces of reality and excessive financial humor.

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01:20:20

The Polymath Pod: Jason Buck and Zed Francis talk...

The Derivative ·

2024/11/14

To close out the 2024 season of the Derivative podcast, host Jeff Malec sits down with two friends of the pod, and friends of his - Jason Buck and Zed Francis - for a wide-ranging discussion on the state of the markets, the unpredictability of macro events, and the importance of understanding underlying structures and dynamics. The conversation begins with an exploration of the unexpected market reactions following the first Trump election (in ‘16), highlighting the challenges of the past, and ends

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01:07:18

Retail to Institutional: How David Sun Scaled His...

The Derivative ·

2024/11/07

In this episode, Jeff Malec sits down with David Sun, an entrepreneur, trader, and fund manager with a unique journey into the world of options trading and alternative investments. David shares his unconventional path, starting as a retail trader experimenting with options strategies, particularly selling puts, before transitioning to professional fund management. He discusses the challenges and lessons learned as he navigated various market regimes, including the 2018 and 2020 downturns. The

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01:21:14

Blending Insurance and Credit Expertise: How Obra...

The Derivative ·

2024/10/31

In this episode, Jeff Malec sits down with Peter Polanskyj, Head of Structured Credit at Obra Capital, to delve into the firm's unique approach to investing across the insurance and credit markets. Obra Capital is a $4 billion asset manager with a specialized focus on opportunities at the intersection of insurance and credit. Peter shares insights into the diverse opportunities in this space, which spans longevity investing, reinsurance, structured credit, asset based financing, and more. Peter

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01:33:31

Carmika Partners Unpack the August Volatility Spike...

The Derivative ·

2024/10/17

In this episode, we explore the world of options trading with Martin Vestergaard and Michael Cameron from Carmika Partners. The conversation begins with an in-depth analysis of the volatility spike that occurred in early August, as Vestergaard and Cameron share their insights on the market dynamics and the impact on their trading strategies. The discussion then delves into the growing influence of daily options and the challenges of navigating a highly electronic and technical market. Vestergaard

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01:01:00

Is there Alpha in boring old Muni-Bonds, with...

The Derivative ·

2024/10/03

In this episode of the Derivative podcast, our host JeffMalec sits down with Tim McGregor and Tom Hession from Riverbend Capital Advisors to dive deep into the world of municipal bonds. The discussion covers the unique inefficiencies and complexities of the $4 trillion muni bond market, which features over 75,000 different issuers across the country. Tim and Tom explain how this fragmented landscape creates opportunities for active management and value capture, even in a low-risk asset class

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01:05:09

Trend, Prop, and Being Allergic to Optimization with...

The Derivative ·

2024/08/29

In todays episode, Jeff Malec sits down with Bill Gebhardt, the founder of 10 Dynamics, to discuss his interesting career journey and the development of his unique systematic trading approach. Bill shares his background, from working on the floor of the CBOE in the early 90s to earning a PhD in finance and transitioning into the energy trading space. He provides insights into the evolution of the commodity markets, including the rise and fall of Enron, and the challenges of maintaining an edge in

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00:58:01

China Tech, Carbon, and Option Overlays in ETFs? Yep,...

The Derivative ·

2024/08/22

Today’s episode on The Derivative, Jeff Malec sitsdown with James Maund, a veteran of the financial industry with experience spanning Goldman Sachs, the NYSE floor, and his current role at KraneShares. Maund provides a unique insider's perspective on the rapid growth and innovation within the ETF space while outlining KraneShares main investment pillars – China Tech, Carbon emissions/cap-and-trade, and options-based overlay strategies designed to generate income and downside protection. Maund

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01:14:22

Unpacking the Sell-Off! Awesome Insights from...

The Derivative ·

2024/08/08

Today's episode features an in-depth discussion with discretionary global macro trader Asim Ghaffar, founder and CIO of AG Capital. Ghaffar shares his insights on the recent market volatility, including his views on the potential triggers behind the sell-off and the chances we have for a recession. Was it just a blip on the radar, algos deleveraging? He explains his discretionary macro trading approach, highlighting the importance of risk management, position sizing, and the psychological

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01:10:51

Hedge Fund Quants Unlock the Power of Dispersion:...

The Derivative ·

2024/07/25

In this episode of The Derivative, host Jeff Malec sits down with DeWayne Louis and Nishant Gurnanifrom Versor Investments, a quantitative investment firm celebrating its 10th anniversary. The discussion delves into the personal backgrounds and journeys that led to Versor’s founding, from their work providing efficient exposure to traditional hedge fund strategies through risk premia type approaches to new methods such as their unique GETT program which goes long/short more thana dozen global stock

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00:57:01

Volatility Vultures: Hunting for Options Talent with...

The Derivative ·

2024/06/27

In this episode of the Derivative we chat with Gary Selz, co-founder of Zero Delta Funds. Gary shares his background growing up in Chicago and studying electrical engineering at Northwestern University. He discovered options trading through a financial engineering course and was introduced to a Chicago prop trading firm. Gary discusses his experience training as a new trader at the prop firm. He explains how traders are given time and support to learn before getting their own book to trade. Gary

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01:04:54

Carry On: Demystifying the Carry Trade with Rodrigo...

The Derivative ·

2024/06/26

We’re back! Today’s podcast features The Derivative show stoppers Rodrigo Gordillo and Adam Butler of Resolve Asset Management discussing the carry trade and itsapplications in investment strategies. They begin by explaining what the carry trade is and discussing common misconceptions around it. They then dive into different types of carry that can be found in various asset classes like bonds, commodities, currencies, and equities. The guests discuss how carry strategies can be implemented, either

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01:06:19

Surviving Adversity, Building Resilience, and...

The Derivative ·

2024/05/02

Joe Kelly, partner at Campbell & Co., joins us this week for a new episode of The Derivative. Jeff starts talking skiing, as he’s apt to do, but this time is a bit different, with Joe sharing an update on his recent recovery from a nasty ski accident that nearly left him paralyzed (or worse). Wethen move right into Joe discussing his career journey from trader to founding a FinTech startup during the tech bubble, to joining the long-time managed futures standout Campbell & Company. Joe

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01:15:27

50 Charts showing the Current State of Volatility,...

The Derivative ·

2024/04/25

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

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210 results

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