Shows
Monetary Matters with Jack Farley“Software Earnings Massacre” While Precious Metal Vol Explodes | Jack & Max on Silver, Fed Meeting, and EarningsThis Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: https://fiscal.ai/mm/
The relentless surge in precious metals continues, with gold seeing gains in all but three trading days this year and silver holding above $110 despite some analyst warnings that the rally may be nearing an end. While some attribute these moves to a "debasement trade" or a weakening US dollar, the speakers argue that silver’s rise is primarily driven by real industrial demand and supply shor...
2026-01-291h 03
Monetary Matters with Jack FarleyThe SaaS Reckoning, Consumer Trends, & AI Disruption: The Macro & Micro Signals That Matter in 2026 | Deiya PernasDeiya Pernas, co-founder of Pernas Research, has crushed the market and compounded at over 30% since he and his partners began tracking their portfolio in 2017. In this interview, Deiya examines 10 key micro and macro questions that he believes could be the key to continued outperformance in 2026, including questions around SaaS spend, white collar hiring, home buying in a lower rate environment, consumer spending trends, and more.
Learn more about Pernas Research: https://pernasresearch.com
Follow Pernas Research on Twitter: https://x.com/pernasresearch
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2026-01-281h 07
Other People's Money with Max WietheHow $100B Asset Managers Are Making Tokenized Funds a Reality | Maredith Hannon of WisdomTreeMaredith Hannon, Head of Business Development at Wisdom Tree Digital, joins Other People’s Money to discuss how tokenized real-world assets are taking off at a pace eerily similar to the early growth of ETFs. Crypto enthusiasts have long touted the potential for fund vehicles to be tokenized and put on chain. That story is quickly becoming a reality with rapid AUM growth and established players like WisdomTree with over $100B in AUM quickly launching funds from money market and equity to alternatives like private credit. Hannon also discuss the additional utility that on chain funds provide and how th...
2026-01-2746 min
Monetary Matters with Jack FarleyBreaking Down the Precious Metals Bull Market, Natural Gas, Intel’s Disappointment, & the Small Cap Surge | Jack & MaxThis Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: https://fiscal.ai/mm/
Jack & Max break down the bull market in silver and gold, how they are expressing their bullish views via royalty companies, and debate whether we are approaching peak prices. They also discuss surging natural gas prices, what Intel’s disappointing earnings mean for the AI bull market, and the strong performance from small caps so far in 2026.
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2026-01-241h 10
Monetary Matters with Jack FarleyBanks Under Fire From Executive Action | Jack & Max on Trump's Threatened 10% Credit Card Cap and How Executive Action Is Shaping Markets in Defense, Housing, Payments, Central Banking, and MoreThis Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: https://fiscal.ai/mm/?via=monetarymatters
President Trump has shaken the financial markets by proposing a strict 10% interest rate cap on credit cards, a move that sent stocks like Visa and MasterCard tumbling. In this episode, Jack and Max break down whether this policy is a genuine legislative goal or a political stunt designed to win the midterms by addressing the affordability crisis. They explore how banks might retaliate—pote...
2026-01-141h 12
Other People's Money with Max WietheThe Market’s Biggest Whales are Making Huge Changes: Total Portfolio Revolution | Steve Novakovic of CAIAThis episode is brought to you by CAIA.nxt. Learn more about their alternatives education courses for investment advisors and get 10% off with code MMTEN: https://caia.org/content/welcome-monetary-matters-and-other-peoples-money-listeners
Steven Novakovic, Managing Director of Educational Programs at CAIA, discusses the monumental shift from strategic asset allocation to the Total Portfolio Approach (TPA), a change recently highlighted by major moves at CalPERS. The conversation explores the evolving landscape of private markets, specifically how secondary markets are providing crucial liquidity and entry points for investors dealing with slowed distributions and the "denominator effect". Novakovic also...
2026-01-131h 07
Monetary Matters with Jack FarleyWhy Venezuela Won’t Solve America’s Real Energy Crisis | Michael Kao on AI, Electrification, and the Natural Gas BottleneckIn this episode of Monetary Matters, Max Wiethe sits down with Michael Kao, CIO of Akanthos Capital Management and the Kao Family Office, to unpack the real energy risks facing the U.S. economy. The conversation opens with Venezuela and the Trump administration’s push to reshape global oil supply. Michael explains why Venezuela’s vast reserves are unlikely to move the market quickly, why OPEC spare capacity still caps oil prices, and why he remains structurally bearish on oil despite constant fears of shortages. From there, the focus shifts to what Michael believes is the true vulnerability: natural gas...
2026-01-111h 03
Monetary Matters with Jack FarleyThe Global Bull Market: Examining the Dramatic Outperformance of Global Stocks vs. the US | Jack & MaxThis Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: https://fiscal.ai/mm
In this episode, Jack Farley and Max Wiethe break down what really happened in markets in 2025 and what it means for investors heading into 2026. While U.S. equities delivered strong returns and continued to attract record foreign capital, global markets quietly outperformed, with emerging markets, Europe, Japan, and parts of Asia posting significantly higher total returns. The conversation digs into why the “U.S. is the...
2026-01-0745 min
Monetary Matters with Jack FarleyThe Convexity Maven’s Biggest Macro Trades of 2026: Why Bonds, Gold, and Debasement Matter Again in 2026 | Harley BassmanHarley Bassman, managing partner at Simplify Asset Management and widely known as the “Convexity Maven,” joins Monetary Matters to break down the hidden risks shaping today’s markets. He explains why inflation is likely to remain structurally higher, why massive fiscal deficits matter more than Fed policy, and how passive flows continue to support equities despite growing cracks underneath. The conversation dives deep into bonds, mortgage-backed securities, credit risk, gold as an alternative currency, and why convexity is the key concept investors consistently underestimate. Bassman also outlines practical portfolio hedges designed to perform when markets move to extremes, offering a rare...
2026-01-041h 02
Other People's Money with Max WietheFrom Quant to VC: Data Driven Investing in Public & Private Markets | Matt Ober | Social LeverageIn this episode of Other People’s Money, Matt Ober, General Partner at Social Leverage, discusses how the data economy is evolving for providers, vendors, and investors. He explains how AI is reshaping data business models, highlights emerging data sources in what he calls the “degenerate economy,” and argues that many alternative data sets once considered sources of alpha are rapidly becoming commoditized beta.
Matt also shares how Social Leverage uses data to make seed stage venture investments, how its approach differs from that of mega VC firms, and where the firm is currently focuse...
2025-12-3059 min
Other People's Money with Max WietheHow This Value Investor Beat the Market and Grew His Hedge Fund | Yaron Naymark | 1 Main CapitalThis episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: http://fiscal.ai/mm
Over the last 8 years, Yaron Naymark, founder and managing partner of 1 Main Capital, has patiently grown his concentrated long-biased hedge fund by outperforming major equity benchmarks like the S&P 500. Any manager who has been in his shoes though will tell you that outperforming the market isn’t enough to attract the institutional capital necessary to seriously scale a fund. Here he discusses the importance of consistency of...
2025-12-1759 min
Other People's Money with Max WietheBeating Bitcoin at Scale with Directional Crypto Strategies | Sam Gaer of Monarq Asset ManagementThis episode is brought to you by VanEck. Learn more about the VanEck Rare Earth and Strategic Metals ETF: http://vaneck.com/REMXMax
Sam Gaer, CIO of Directional Strategies at Monarq Asset Management, joins Other People’s Money to discuss how he uses quantitative directional strategies to trade crypto assets and produce an institutional quality return stream that has outperformed bitcoin at scale. He explains how his experience as a market maker, executive, and self-taught electronic exchange technologist driving some of the most important technological advances in finance led him to “burn the boats,” leave...
2025-12-091h 10
Monetary Matters with Jack FarleyBreaking Down Michael Burry’s Big Nvidia Short Thesis and Open AI’s Massive Loss Projections | Jack & MaxThis Monetary Matters episode is brought to you by Fiscal AI. Save 30% off any paid tier at for Black Friday: http://fiscal.ai/mm
Jack Farley & Max Wiethe breakdown Michael Burry’s big Nvidia short thesis and the recent projections from HSBC that Open AI will lose nearly half a trillion dollars between now and 2030. They also discuss the recent repricing of Fed rate cuts in December and debate which companies are the biggest losers if AI turns out to be a bubble.
Follow Jack Farley on Twitter https://x...
2025-11-2834 min
Other People's Money with Max WietheVenture Capital’s Collision with Public Markets, the Dry Powder Bubble, and VC Metrics that Lie | James Wang of Creative VenturesThis Other People’s Money episode is brought to you by CAIA.nxt. Learn more about their alternatives education courses for investment advisors and get 10% off with code MMTEN: https://caia.org/content/welcome-monetary-matters-and-other-peoples-money-listeners
James Wang, General Partner at Creative Ventures and author of “What You Need to Know About AI” joins Other People’s Money to discuss the most pressing issues facing venture capital right now including: VC’s collision with public markets, the “RIAifaction” of VC firms, and the reality that there is still too much dry powder propping up venture valuations. Wang also disc...
2025-11-251h 15
Other People's Money with Max WietheCan Alpha Capture Save Fundamental Long/Short Equity? | David Stemerman CenterBook PartnersThis Other People’s Money episode is brought you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: http://fiscal.ai/mm
Fundamental long-short equity investing has been in decline with fewer new fund launches and dwindling assets, but David Stemerman, CEO, CIO and Co-founder of CenterBook Partners believes data clearly shows these investors still have significant investing skill. He argues that single manger hedge fund data collected using alpha capture can be used to construct new portfolios and strategies that will be more attractive for in...
2025-11-181h 09
Other People's Money with Max WietheWhy Beating the Market Isn’t Enough for Investment Managers | Corey HoffsteinThis Other People’s Money episode is brought you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: http://fiscal.ai/mm
Corey Hoffstein, CEO and CIO of Newfound Research and co-founder and PM of Return Stacked ETFs, joins OPM to discuss his journey in the investment management business. He argues that beating the market is a commoditized value proposition and that investment managers need to solve other problems for their clients to attract assets. He also discusses his experience licensing research to other asset managers, hi...
2025-11-131h 16
Other People's Money with Max WietheThis Hedge Fund Trying to Become the Top Pod Shop in Crypto is Rethinking the Multi-Manager Hedge Fund Model | Anatoly Crachilov of Nickel DigitalThis Other People’s Money episode is brought to you by CAIA.nxt. Learn more about their alternatives education courses for investment advisors and get 10% off with code MMTEN: https://caia.org/content/welcome-monetary-matters-and-other-peoples-money-listeners
Anatoly Crachilov, CEO and Co-Founder of Nickel Digital Asset Management, joins Other People’s Money to discuss why crypto is the perfect asset class for the multi-manager pod shop model. He also explains how Nickel is taking a “West Berlin” approach to partnering with external traders compared to the “East Berlin” approach of many traditional pod shops where non-competes and strict contr...
2025-11-041h 10
Monetary Matters with Jack FarleyMore Credit Problems, Mag 7 AI CapEX Continues, and Money Market Stress | Jack & MaxThis Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: http://fiscal.ai/mm
Jack Farley & Max Wiethe breakdown yet another credit “cockroach” that appears to be more related to fraud than overall market weakness. They also discuss the Mag 7 earnings report and the continued onslaught of AI CapEx spending that many believe has entered bubble territory. Finally, they breakdown this week’s fed decision and why big changes to both the Fed balance sheet and the rate cutting cycle...
2025-11-0257 min
Other People's Money with Max WietheThe Hedge Fund Beating the S&P 500 Trading Only Financial Stocks | Derek Pilecki of Gator CapitalDerek Pilecki’s hedge fund Gator Capital has outperformed the S&P 500, compounding at over 22% since inception while focusing exclusively on financial sector stocks. In this interview Derek discusses why he thinks recent concern in the financial sector is overblown, how he has grown his firm’s assets to over $300m, and why he believes that good performance is simply not enough to grow a successful hedge fund. Derek also discusses how he manages his mutual fund alongside his hedge fund and why he doesn’t see the vehicles as competing but serving two separate investor bases.
2025-10-2856 min
Other People's Money with Max WietheBringing Long/Short Hedge Fund Strategies to ETFs | David Orr (Bonus Episode)This is a special bonus episode of OPM with David Orr. In my first conversation with David, we only discussed his hedge fund that has crushed the S&P 500 since its inception in 2021. In addition to his hedge fund, he also runs the Militia Long/Short Equity ETF ($ORR) which since its inception in January 2025 has also beaten the S&P 500 running a similar but still distinct long/short strategy from the one he employs at his hedge fund. We discuss his unorthodox decision to launch the ETF when the hedge fund was going so well, how he is...
2025-10-1636 min
Monetary Matters with Jack FarleyPanic on Wall Street | First Brands’ Credit Shockwave & Trump’s 100% China Tariff ThreatThis Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: http://fiscal.ai/mm
Jack Farley & Max Wiethe react to the weakness in the credit markets upon the large (>$10 Billion) bankruptcy of First Brands and the banks and financial entities that have exposure to it, such as Jeffries, UBS, and others. They also discuss President Trump’s threat to raise tariffs on China substantially, which he later specified as 100%, which sent the stock market and other risk assets tumbling on...
2025-10-111h 01
Monetary Matters with Jack FarleyThe AI Capex Bubble, Gold & Silver on the Rise, and Signs of Market Froth | Jack & MaxThis Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: http://fiscal.ai/mm
Jack Farley & Max Wiethe react to the lack of employment data, discuss the “bubble” in AI capex, gold and silver’s recent rise and examine other signs of market froth pointing to the current stage of the market cycle. Jack and Max also discuss a few interesting short and long opportunities they are playing.
Follow Jack Farley on Twitter https://x.com...
2025-10-051h 04
Other People's Money with Max WietheHow Analyst Compensation & Incentives Impact Hedge Fund Success with HF Reflections (Bonus Episode)This is a special previously unaired bonus episode of OPM with one of my most popular guests @hfreflection where we dive into the important topic of hedge fund compensation, with a particular focus on analysts and the investment team. How a hedge fund founder structures compensation and incentives for the investment team has a huge impact on the way investment research gets done. It can influence whether ideas are shared or hoarded and whether preventing mistakes is rewarded equally with finding new ideas. We also discuss when analysts should get points and how founders should deal with the reality...
2025-09-3023 min
Other People's Money with Max WietheTop Crypto Fund of Funds on the Current Crypto Cycle, Hedge Funds, & VCs | Pure Crypto LPThis Other People’s Money episode is brought to you by VanEck.
Learn more about the VanEck Semiconductor ETF (SMH): http://vaneck.com/SMHMax
Learn more about the VanEck Fabless Semiconductor ETF (SMHX): http://vaneck.com/SMHXMax
Jeremy Boynton and Zach Lindquist, managing partners at Pure Crypto, have built one of the best performing crypto fund of funds since their inception 2018. In this interview they discuss their view that the crypto market structure is being changed by ETFs and crypto treasury companies, how they th...
2025-09-251h 05
Other People's Money with Max WietheOutperforming the S&P 500 & Growing from One-Man Shop to Multi-Manager Hedge Fund | David Orr of Militia CapitalThis Other People’s Money episode is brought to you by VanEck.
Learn more about the VanEck Semiconductor ETF (SMH): http://vaneck.com/SMHMax
Learn more about the VanEck Fabless Semiconductor ETF (SMHX): http://vaneck.com/SMHXMax
Since launching Militia Capital in 2021, David Orr has crushed the S&P 500 and is up over 500% net of fees. In fact, during this period, he’s one of few managers to have set the S&P 500 as the hurdle rate for the fund to earn performance fees. In t...
2025-09-1658 min
Other People's Money with Max WietheHow this Small Cap Hedge Fund Took Advantage of Crisis & Controversy to Reach Scale | Stoic Point Capital ManagementThis episode is brought to you by Fundamental Edge. Learn more about their new AI Academy for buyside professionals: https://www.fundamentedge.com/ai-academy
Raj Shah and Cullen Rose of Stoic Point Capital Management join OPM to explore their winding path to scale and how adapting to the opportunities from the SPAC boom of 2021 brought them new investors and strategies. They also discuss how AI has drastically changed their investing process and their cost structure, the importance of negotiating and changing service providers, and why hedge fund marketing is an active endeavor.
2025-09-091h 22
Other People's Money with Max WietheHow AI Tools Are Rapidly Disrupting the Investment Industry | Brett Caughran & David PlonLearn more about the new AI Academy from Fundamental Edge: https://www.fundamentedge.com/ai-academy
There’s no shortage of speculation about how AI will reshape the workforce, but one area where no speculation is needed is the investment industry. AI is already rapidly disrupting the way investment professionals conduct fundamental equity research and shifting the competitive landscape for fund managers and talent alike. In this interview with Brett Caughran, founder of buyside training academy Fundamental Edge, and David Plon, co-founder and CEO of AI powered investment research platform Portrait Analytics join OPM to di...
2025-09-0358 min
Other People's Money with Max WietheClimbing the Hedge Fund Ladder: From Analyst to Hedge Fund FounderThis episode is brought to you by Fundamental Edge, the leaders in buyside analyst training. Reserve your spot in their new AI Academy today: https://www.fundamentedge.com/ai-academy
In the online community of FinTwit it is extremely common for hedge funders to have anonymous profiles because of strict regulations, but not all these anonymous profiles are made equal. @hfreflection is one of the most insightful anonymous members of the FinTwit community, especially when it comes to the business and industry of hedge funds. In this interview (while maintaining anonymity) HF reveals key aspects...
2025-08-271h 32
Monetary Matters with Jack FarleyBreaking Down Powell’s Jackson Hole Speech, September Rate Cut Odds, and Chinese Consumer Lending FinTech’s | Jack & MaxThis Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: http://fiscal.ai/mm
Jack Farley & Max Wiethe break down Jerome Powell’s Jackson Hole speech that markets have interpreted as signaling rate cuts are coming in September, the Fed’s long-term reassessment of their policy framework for combatting inflation and maintaining full employment, and Chinese consumer lending fintech companies that Jack is bullish on.
Fed Statements on Longer-Run Goals and Monetary Policy Strategy Upda...
2025-08-2242 min
Other People's Money with Max WietheThe Golden Age of Fundamental Commodities Trading with Tor Svelland of Svelland Capital (18.5% Annualized Since Inception)Tor Svelland, CIO and Founder of Svelland Capital, has annualized over 18.5% net of fees since inception in 2017 in their strategy that trades a combination of commodity futures, commodity linked equities, freight derivatives, energy transition linked companies, and electricity producers. Svelland joins Other People’s Money to discuss why he believes new market participants and structural undersupply have made the current environment for commodities trading so exciting. He also discusses how he’s grown his business from personal capital to almost $1 billion in AUM with investors all over the globe.
Follow Max on X: https://x.co...
2025-08-1949 min
Monetary Matters with Jack FarleyWall Street is Crushing Main Street: Juxtaposing Market Strength with Economic SoftnessThis Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: http://fiscal.ai/mm
Jack Farley & Max Wiethe break down recent economic data on inflation and the labor market, the parade of positive earnings reports sending markets higher, and how this is representative of an economic expansion that is benefiting Wall Street while Main Street is left behind.
Follow Jack Farley on Twitter https://x.com/JackFarley96
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2025-08-1444 min
Other People's Money with Max WietheDeep Engagement: A Banking Approach to Classical Value Investing | Donald Zilkha of Zilkha InvestmentsDonald Zilkha, founder of Zilkha Investments joins Other People’s Money to discuss how his deep-rooted DNA in banking and deal making has evolved into an investment strategy focused on deep research and engagement with management to affect change without upsetting the apple cart. He discusses how this strategy has evolved from single name SPVs to the commingled strategy he has today, case studies like Nathan’s Famous Hot Dogs, and why this classical style resonates with investors.
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2025-08-0557 min
Monetary Matters with Jack FarleyBeyond the Fed | Jack & Max on FOMC, GDP, Earnings & TariffsThis Monetary Matters episode is brought to you by Fiscal.ai.Sign up for a 2-week free trial and get 15% off any paid tier at: http://fiscal.ai/mm
Jack Farley & Max Wiethe break down today’s FOMC rate cut decision, this morning’s GDP report, recent tariff developments as major August deadlines approach, and the big earnings reports that are moving markets.
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2025-07-3145 min
Other People's Money with Max WietheOptimizing the Investment Business for Long-term Results | David Steinberg of Marlowe PartnersDavid Steinberg, founder and CIO of Marlowe Partners joins Other People’s Money to discuss why he believes the operational and capital raising side of the investment business is the most important factor in determining success. He also discusses how he is navigating the capital raising process with a focus on weeding out investors who are not a fit for his concentrated long-term investing style, how that long-term style affects his ability to use AI in the research process, and why it is important not to be too innovative with your investment terms.
David wo...
2025-07-3054 min
Other People's Money with Max WietheSPACs Are Booming but Are We Back in Bubble Territory? | Louis Camhi of RLH Capital
2025-07-2247 min
Other People's Money with Max WietheTop Hedge Funds Are Hiding and It’s Warping Return Data | Jon Caplis of PivotalPathThis Other People’s Money episode is brought to you by VanEck.
Learn more about the VanEck Semiconductor ETF (SMH): http://vaneck.com/SMHMax
Learn more about the VanEck Fabless Semiconductor ETF (SMHX): http://vaneck.com/SMHXMax
Jon Caplis, CEO and founder at PivotalPath joins Other People’s Money to discuss how underreporting of data by the top tier of hedge funds is skewing the data that institutional investors use to make allocation decisions, resulting in undeservedly poor perception of the asset class, and sign...
2025-07-151h 10
Other People's Money with Max WietheThe Market Has Moved from Deflation to Debasement | Warren PiesThis Other People’s Money episode is brought to you by VanEck.
Learn more about the VanEck Semiconductor ETF (SMH): http://vaneck.com/SMHMax
Learn more about the VanEck Fabless Semiconductor ETF (SMHX): vaneck.com/SMHXMAx
Warren Pies, strategist and co-founder at 3Fourteen Research joins Other People’s Money to discuss how the market and economy are transitioning from a deflation to a debasement mindset. He explains why he’s bullish equities, expecting continued disinflation despite his longer-term debasement view, and expecting the Fed to cut 3 times before...
2025-07-081h 07
Other People's Money with Max WietheIs Leverage the Solution to America’s Retirement Crisis? | Abdul Al-Asaad of Basic Capital
2025-07-011h 06
Monetary Matters with Jack FarleyFed Scared of Inflation Resurgence | Jack Farley & Max WietheJack Farley and Max Wiethe break down the market’s reaction to today’s Federal Reserve decision, the Summary of Economic Projections, and Jerome Powell’s press conference. They also discuss parallels between this market and late 2021, debate whether AI is a bubble, and the eternal question of when the next US recession will occur.
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2025-06-1933 minMonetary Matters with Jack FarleyEquity Market Strength is Masking a Recession | Mike GreenMike Green, Portfolio Manager and Chief Strategist at Simplify, joins Monetary Matters to discuss why the strength of the equity market and other technical factors are obfuscating weakness in the US consumer and broader indicators of economic weakness to the point that it could be masking a recession. Green also discusses his views on inflation, the bond market, and the current stage of the passive investing endgame that he believes is the main culprit driving equity markets higher and higher.
Follow Mike Green on Twitter: https://x.com/profplum99
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2025-06-181h 14Monetary Matters with Jack FarleyThe Fed Will Choose Inflation Over Recession | Vincent DeluardVincent Deluard, Director of Global Macro Strategy at StoneX joins Monetary Matters to discuss why he believes changes to policy makers toolkit and to the structure of the economy mean recessions are “cancelled.” He also discusses why he believes Trump’s MAGA economic policies will be bad for corporate profit margins and his bullish outlook on oil and energy stocks.
Follow Vincent Deluard on Twitter https://x.com/VincentDeluard
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...
2025-06-1557 min
Other People's Money with Max WietheCapacity Constrained by Design: The 25-Year-Old Building Niche Multi-Manager Hedge Fund Platforms | Zach LevittZach Levitt, CIO and Founder of Sixth Turn Capital and Opus One Asset Management joins Other People’s Money to discuss how he is standing up multi-manager platforms at just 25 years old by focusing on niche capacity constrained managers. Levitt discusses the benefits of combining uncorrelated capacity constrained strategies in a multi-manager platform, his unconventional path to founding a multi-manager platform, how mentorship has helped accelerate his growth, and how he goes about attracting talented investors to his platform.
Follow Zach on X: https://x.com/derivative_bro
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2025-06-121h 00
Other People's Money with Max WietheWhat Investors Are Overlooking in AI & Semis | Val ZlatevVal Zlatev, Portfolio Manager and Senior Partner at hard tech specialist hedge fund Analog Century Capital Management joins Other People’s Money to discuss what he thinks investors still fail to appreciate about the secular growth of AI and semiconductors. He also discusses why DeepSeek was so misunderstood, other aspects of the AI supply chain, the state of the analog chip cycle, running long/short and market neutral strategies and garnering interest from the large multi-manager platforms.
Learn More About Analog Century Capital Management: https://www.analogcm.com/
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2025-06-051h 16
Other People's Money with Max WiethePatient Value Investing and America’s Industrial Advantage | Bob Robotti
Bob Robotti, legendary value investor and President and CIO
of Robotti and Company Advisors, is one of a very select group of investors
with a 30+ year track record of S&P 500 outperformance. Here he joins Other People’s Money to discuss long-term value investing, why he likes to invest in companies perceived to be facing headwinds, and his view that American based industrial companies are competitively advantaged for reasons completely unaffected by trade policy. He also discusses how he operates both an advisory business and a broker dealer business and how the broker dealer has served as...
2025-05-291h 14Monetary Matters with Jack FarleyWait & See | Jack & Max on May Fed Meeting, Shipping Volumes, China Stimulus, and Tariff NewsflowJack welcomes Max Wiethe, Other People’s Money podcast host. The two discuss the May Fed meeting, in which Powell repeatedly stressed that the central bank is in a wait and see posture as it gauges how tariffs will impact inflation and growth. The two also discuss shipping volumes, tariff front running, and China’s recent monetary stimulus. Recorded May 7, 2025.
Follow Max Wiethe on Twitter https://x.com/maxwiethe
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2025-05-0850 min
Other People's Money with Max WietheHow Hedge Funds Have Managed Market Turmoil with Jack and MaxThe first 4 months of 2025 have been highly volatile hurting both equity and fixed income investors alike, but how has the “smart money” faired in this environment? Jack and Max breakdown the performance of hedge funds in Q1 and April of 2025 with data from Citco Fund Services and HFRI. They also discuss the recent moves by Yale and Harvard to sell some of their private equity stakes and other indicators that might signal trouble ahead for PE as an asset class. Follow Jack on X: https://x.com/JackFarley96
Follow Max on X: https://x.com/maxwiethe
Fo...
2025-04-3057 minOther People's Money with Max WietheHidden Mortgage Market Shifts Are Creating Opportunities | Matt Jozoff of Trevally CapitalMatt Jozoff, co-CEO, Portfolio Manager, and Head of Macro Research at Trevally Capital joins Other People’s Money, to discuss how trends like the growth in the Ginnie Mae market, low credit borrowers and non-bank originators, and other factors are affecting mortgage prepayments and creating opportunities in the mortgage market for firms like Trevally Capital. He also discusses how Trevally Capital is looking to extract alpha from these opportunities and build a world-class institutional asset manager with the backing of partners like The Raptor Group and Seaport Global Securities.Learn more about Trevally Capital: ht...
2025-04-2450 minOther People's Money with Max WietheDodging Tariff Turmoil in Nordic High Yield Credit | Måns Levin of Ridge CapitalMåns Levin, CEO and co-founder of Ridge Capital, joins Other People’s Money, to discuss why they believe the Nordic high yield credit market provides unique opportunities for double-digit returns and insolation from tariff and trade war risks. Levin discusses the exceptional start Ridge Capital has had, both in terms of performance and asset raising, the specific features and composition of the Nordic high yield market that they find most attractive, and the flexibility in strategies required to take full advantage of the opportunities they see.Follow Ridge Capital on LinkedIn: https://www.lin...
2025-04-1551 minOther People's Money with Max WietheWhen the Market Crashes… They Profit | Wayne Himelsein on Logica Capital’s Long Volatility PlaybookWayne Himelsein, CIO and founder of Logic Capital Advisors, joins Other People’s Money, to discuss how his hedge fund is built to profit when volatility spikes in moments just like this. Everybody wants to carry crash protection but if implemented improperly the cost of carrying hedges can bleed you dry. Finding innovative ways to solve this problem is what drives Himelsein and Logica forward and in this discussion he discusses their approach to maintaining at the money long volatility exposure without relying on spread trades to fund tail hedges.This episode is brought to...
2025-04-0956 minMonetary Matters with Jack FarleyTariff Escalation Update | Jack & Max on April 7 Tariff News & MarketFollow Jack Farley on Twitter https://x.com/JackFarley96Max Wiethe on Twitter https://x.com/maxwietheOther People’s Money Podcast on Twitter https://x.com/OPMpodFollow Monetary Matters on:Apple Podcast https://rb.gy/s5qfyhSpotify https://rb.gy/x56dx5YouTube https://rb.gy/dpwxez
2025-04-0844 minMonetary Matters with Jack FarleyLiberation Day Has Come | Jack & Max on Seismic Market Revolt Against Trump Admin’s Tariff Policy (Recorded April 3 2025)Jack Farley & Max Wiethe share their analysis as global financial markets react with shock to Trump’s reciprocal tariffs which are based not on other countries’ tariff or non-tariff trade measures, but on the level of trade deficit itself. Recorded the morning of April 3, 2025.Follow Jack Farley on Twitter https://x.com/JackFarley96Max Wiethe on Twitter https://x.com/maxwietheOther People’s Money Podcast on Twitter https://x.com/OPMpodFollow Monetary Matters on:Apple Podcast https://rb.gy/s5qfyhS...
2025-04-0344 minOther People's Money with Max WietheTrading Market Turmoil: Any System is Better than No System | OPM Trader Talks with Petr Pinkhasov of Anthem Capital ManagementThis episode is brought to you by Fintool. Learn more about how you can add AI to your investment process with Fintool: https://fintool.com/?utm_source=the_opmPetr Pinkhasov, CIO and founder of Anthem Capital Management, joins Other People’s Money, for a special “Trader Talks” episode where he discusses how he trades incorporating quantitative signals, thematic views, and technical analysis patterns like DeMark indicators. Petr also discusses how he’s been handling the volatile start to 2025 and what forces he is attributing the market’s recent turmoil and rotations....
2025-04-0155 minOther People's Money with Max WietheFrom Treasury Minister of Argentina to Macro Hedge Fund Manager | Nicolás Dujovne of Tenac Asset ManagementThis episode is brought to you by Fintool. Learn more about how you can add AI to your investment process with Fintool: https://fintool.com/?utm_source=the_opmNicolás Dujovne, CIO and founder of Tenac Asset Management, joins Other People’s Money to discuss his path from Treasury Minister of Argentina and president of the G-20 to hedge fund manager. Despite more experience managing economies than trading them, Dujovne and his partners at Tenac have succeeded in building a 5+ year track record with no down years and an annualized rate of 17.18% net of...
2025-03-251h 05Other People's Money with Max WietheGeopolitical Uncertainty is Freezing Private Capital | John Bowman of CAIAThis episode is brought to you by Fintool. Learn more about how you can add AI to your investment process with Fintool: https://fintool.com/?utm_source=the_opmJohn Bowman, CEO of CAIA Association, the Association of Chartered Alternative Investment Analysts, joins Jack Farley on a special crossover episode of Monetary Matters and Other People’s Money to discuss the biggest trends in alternative investments. Bowman explains how Tariff uncertainty and other geopolitical factors might be the #1 factor that led to last year’s drop in PE assets, why he believes there is stil...
2025-03-181h 19
Monetary Matters with Jack FarleyThe Specialist Hedge Fund That Has Crushed the S&P 500 | Moez Kassam of Anson FundsThis episode is brought to you by Fintool. Learn more about how you can add AI to your investment process with Fintool: https://fintool.com/?utm_source=the_opmToronto may be the financial capital of Canada but compared to NYC or London it does not quite have the same cachet for top hedge fund managers. This might be why Moez Kassam, CIO and Founder of Anson Funds, has flown under the radar of many keeping track of the industry’s titans while growing Anson Funds to over $2b in assets under management and pu...
2025-03-1156 minOther People's Money with Max WietheThe Specialist Hedge Fund That Has Crushed the S&P 500 | Moez Kassam of Anson FundsThis episode is brought to you by Fintool. Learn more about how you can add AI to your investment process with Fintool: https://fintool.com/?utm_source=the_opmToronto may be the financial capital of Canada but compared to NYC or London it does not quite have the same cachet for top hedge fund managers. This might be why Moez Kassam, CIO and Founder of Anson Funds, has flown under the radar of many keeping track of the industry’s titans while growing Anson Funds to over $2b in assets under management and pu...
2025-03-1156 minMonetary Matters with Jack FarleyThe Stock Market Blues | Jack Farley & Max Wiethe on Tariff Uncertainty & Jobs Market DataWith a week of tough declines in U.S. stocks and the U.S. dollar, Jack welcomes business partner and host of “Other People’s Money” show Max Wiethe to talk the uncertainty that is driving markets lower. Jack explains why he is a relative bear on U.S. stocks against global equities, and why he is bullish on Chinese stocks. Max and Jack interpret the February labor market data which showed hiring had slowed, and Jack shares why he thinks the next few jobs reports will be weak because of the efforts to cut waste fraud and abuse from t...
2025-03-0849 min
Monetary Matters with Jack FarleyInside the Alternative Investment Platform Megatrend | Alan Strauss of Crystal Capital PartnersWhether you are talking about hedge funds, private equity, private credit, or venture capital, alternative investment strategies are becoming a much larger part of the portfolios of individual investors. For many that’s being done through investment platforms targeting their registered investment advisors. Alan Strauss, senior partner at Crystal Capital Partners, joins OPM to discuss how alternative investment platforms like Crystal Capital are ushering in a new wave of adoption of alternative assets for RIAs and their clients by providing lower investment minimums, curated menus of top tier funds, and improved customization and investment “wrappers.”Are...
2025-02-2754 minOther People's Money with Max WietheInside the Alternative Investment Platform Megatrend | Alan Strauss of Crystal Capital PartnersWhether you are talking about hedge funds, private equity, private credit, or venture capital, alternative investment strategies are becoming a much larger part of the portfolios of individual investors. For many that’s being done through investment platforms targeting their registered investment advisors. Alan Strauss, senior partner at Crystal Capital Partners, joins OPM to discuss how alternative investment platforms like Crystal Capital are ushering in a new wave of adoption of alternative assets for RIAs and their clients by providing lower investment minimums, curated menus of top tier funds, and improved customization and investment “wrappers.”Are...
2025-02-2754 min
Monetary Matters with Jack FarleyThe Trends Driving the Hedge Fund Industry’s Record $4.5 Trillion in AUM | Ken Heinz of HFR IndexKen Heinz, President of HFR Index LLC, joins Other People’s Money to break down the trends driving the hedge fund industry’s growth to a record $4.5 trillion in assets under management. HFR’s data on the industry that they collect and analyze from over 6,000 funds gives them a birds eye view of the big trends like the growth of multi-managers, crypto funds, and inflows for small and large funds alike. You can find more info on the HFR Database, HFR Indices, and other industry reports and resources for hedge fund investors and managers on the...
2025-02-1856 minOther People's Money with Max WietheThe Trends Driving the Hedge Fund Industry’s Record $4.5 Trillion in AUM | Ken Heinz of HFR IndexKen Heinz, President of HFR Index LLC, joins Other People’s Money to break down the trends driving the hedge fund industry’s growth to a record $4.5 trillion in assets under management. HFR’s data on the industry that they collect and analyze from over 6,000 funds gives them a birds eye view of the big trends like the growth of multi-managers, crypto funds, and inflows for small and large funds alike. You can find more info on the HFR Database, HFR Indices, and other industry reports and resources for hedge fund investors and managers on the...
2025-02-1856 min
Monetary Matters with Jack FarleyBuilding the Definitive Hedge Fund Analyst Masterclass | Brett Caughran on Fundamental EdgeFast track your buyside career and save 10% with coupon code OPM-10 at https://www.fundamentedge.com/opmWhat does it take to succeed in one of the most competitive industries on the planet? Brett Caughran, lead trainer and founder at buyside analyst training platform Fundamental Edge is trying to codify the answer to that question and systematize the process of training hedge fund analysts. Caughran discusses the most important processes analysts must master, why understanding your role is key to success, and why building trust with your PM over years is the perhaps the...
2025-02-111h 16Other People's Money with Max WietheBuilding the Definitive Hedge Fund Analyst Masterclass | Brett Caughran on Fundamental EdgeFast track your buyside career and save 10% with coupon code OPM-10 at https://www.fundamentedge.com/opmWhat does it take to succeed in one of the most competitive industries on the planet? Brett Caughran, lead trainer and founder at buyside analyst training platform Fundamental Edge is trying to codify the answer to that question and systematize the process of training hedge fund analysts. Caughran discusses the most important processes analysts must master, why understanding your role is key to success, and why building trust with your PM over years is the perhaps the...
2025-02-111h 16
Monetary Matters with Jack FarleyHedge Funds Are a Team Sport | Ilya Zaides on Continuity at 14B CapitalHedge fund success both for their investors and operationally is almost always the result of a team effort. Ilya Zaides, CIO and Founder of 14B Capital Management, explains why this means hedge fund investors can care as much about team and key relationship stability as they do about past success.Follow Other People’s Money on:Apple Podcast https://bit.ly/4e7QJ1MSpotify https://bit.ly/3YhaaziYouTube https://bit.ly/3C63VXRFollow Max Wiethe on Twitter: ht...
2025-02-0755 minOther People's Money with Max WietheHedge Funds Are a Team Sport | Ilya Zaides on Continuity at 14B CapitalHedge fund success both for their investors and operationally is almost always the result of a team effort. Ilya Zaides, CIO and Founder of 14B Capital Management, explains why this means hedge fund investors can care as much about team and key relationship stability as they do about past success.Follow Other People’s Money on:Apple Podcast https://bit.ly/4e7QJ1MSpotify https://bit.ly/3YhaaziYouTube https://bit.ly/3C63VXRFollow Max Wiethe on Twitter: http...
2025-02-0755 min
Monetary Matters with Jack FarleyRussell Clark on Inverting the Long Short Hedge Fund Model and Battling Investors' Biggest RisksFormer fund manager and short seller Russell Clark has always believed that the key to adding value for investors is to solve for the biggest risks in their portfolios. He also argues it’s the key to successfully raising hedge fund assets. In this interview, Clark discusses the biggest risks he thinks investors face right now, why these risks have him considering relaunching his hedge fund after returning capital in 2021, and why if he does relaunch, he’s inverting the long short hedge fund model.You can read Russell's Substack here: https://www.russell-clark.com
2025-01-3056 minOther People's Money with Max WietheRussell Clark on Inverting the Long Short Hedge Fund Model and Battling Investors' Biggest RisksFormer fund manager and short seller Russell Clark has always believed that the key to adding value for investors is to solve for the biggest risks in their portfolios. He also argues it’s the key to successfully raising hedge fund assets. In this interview, Clark discusses the biggest risks he thinks investors face right now, why these risks have him considering relaunching his hedge fund after returning capital in 2021, and why if he does relaunch, he’s inverting the long short hedge fund model.You can read Russell's Substack here: https://www.russell-clark.com
2025-01-3056 minMonetary Matters with Jack FarleyJanuary Fed Meeting Breakdown | Jack Farley & Max Wiethe on Powell, Banks, and China's AI RaceFederal Reserve chair Jerome Powell updated investors on the key factors driving interest rate policy at the same time as another perhaps even bigger factor, the future of AI, is rocking markets. Jack & Max breakdown Powell’s press conference, the data points to watch, and the AI elephant in the room.Follow Monetary Matters on:Apple Podcast https://rb.gy/s5qfyhSpotify https://rb.gy/x56dx5YouTube https://rb.gy/dpwxezFollow Jack Farley on Twitter: https://x.com/Ja...
2025-01-3032 min
Monetary Matters with Jack FarleyTrading Skill Isn’t Enough to Run a Hedge Fund | Benn Eifert of QVR AdvisorsAlmost everyone who works in finance dreams of one day showcasing their trading or investing prowess by starting their own hedge fund, but being a good trader is only one line item in a long list of skills required to be a successful hedge fund manager. Benn Eifert, Managing Partner of QVR Advisors, who himself has built his firm into one that manages $2 billion in assets, discusses the important interpersonal skills, operational considerations, and marketing duties that also fall squarely on the shoulders of the founding portfolio manager. Eifert also touches on why pod shops have been so dominant...
2025-01-2149 minOther People's Money with Max WietheTrading Skill Isn’t Enough to Run a Hedge Fund | Benn Eifert of QVR AdvisorsAlmost everyone who works in finance dreams of one day showcasing their trading or investing prowess by starting their own hedge fund, but being a good trader is only one line item in a long list of skills required to be a successful hedge fund manager. Benn Eifert, Managing Partner of QVR Advisors, who himself has built his firm into one that manages $2 billion in assets, discusses the important interpersonal skills, operational considerations, and marketing duties that also fall squarely on the shoulders of the founding portfolio manager. Eifert also touches on why pod shops have been so dominant...
2025-01-2149 minOther People's Money with Max WietheWhy Hedge Fund Managers Must Adapt or Die | Kyle Mowery on The Future of Small Cap ValueIf you weren’t in large and often expensive technology stocks you likely struggled as a hedge fund manager in 2024. For small/mid-cap value investors like Kyle Mowery, Portfolio Manager and Founder of Grizzly Rock Capital, who’ve sold their investors a mandate that makes it nearly impossible to go buy the NVIDIAs of the world you can only fall back on communication and the clear expectations you’ve set with your investors. The problems plaguing small cap value managers are not new though, and if you are still practicing what Mowery calls “the old ways,” 2024 was likely not the first...
2025-01-1452 min
Monetary Matters with Jack FarleyWhy Hedge Fund Managers Must Adapt or Die | Kyle Mowery on The Future of Small Cap ValueIf you weren’t in large and often expensive technology stocks you likely struggled as a hedge fund manager in 2024. For small/mid-cap value investors like Kyle Mowery, Portfolio Manager and Founder of Grizzly Rock Capital, who’ve sold their investors a mandate that makes it nearly impossible to go buy the NVIDIAs of the world you can only fall back on communication and the clear expectations you’ve set with your investors. The problems plaguing small cap value managers are not new though, and if you are still practicing what Mowery calls “the old ways,” 2024 was likely not the first...
2025-01-1452 minMonetary Matters with Jack FarleyMarket Tumbles On Rosy Jobs Data | Jack & Max Break-Down Non-Farm Payroll (NFP) Sell-Off and Current Macro RegimeJack Farley and Max Wiethe of the Monetary Matters network break down the sell-off in stocks after a strong December jobs report and hot inflation expectations reading surprises markets. Recorded afternoon of January 10.Follow Monetary Matters on:Apple Podcast https://rb.gy/s5qfyhSpotify https://rb.gy/x56dx5YouTube https://rb.gy/dpwxezFollow Other People’s Money on: Apple Podcast https://bit.ly/4e7QJ1M Spotify https://bit.ly/3Yhaazi YouTube https://bit.ly/3C63VXR ...
2025-01-1052 min
Monetary Matters with Jack FarleyThe Last Mutual Fund Manager Standing | How Eric Crittenden Defied the ETF Boom to Build a $1B FundWhen was the last time you heard about an exciting new mutual fund launch? It’s probably been a while. Despite ETFs, hedge funds, and burgeoning asset classes like private credit taking all the headlines, mutual funds still control over $20 trillion in AUM. So, how does one raise assets in the 2020s with a product many associate with a time gone by? Eric Crittenden, CIO and Founder of Stand Point Asset Management, joins OPM to share how his mutual fund has done just that and reached over $1 billion in AUM in less than 5 years.Fo...
2025-01-0757 minOther People's Money with Max WietheThe Last Mutual Fund Manager Standing | How Eric Crittenden Defied the ETF Boom to Build a $1B FundWhen was the last time you heard about an exciting new mutual fund launch? It’s probably been a while. Despite ETFs, hedge funds, and burgeoning asset classes like private credit taking all the headlines, mutual funds still control over $20 trillion in AUM. So, how does one raise assets in the 2020s with a product many associate with a time gone by? Eric Crittenden, CIO and Founder of Stand Point Asset Management, joins OPM to share how his mutual fund has done just that and reached over $1 billion in AUM in less than 5 years.Fo...
2025-01-0757 minOther People's Money with Max WietheThe Research to AUM Pipeline | Warren Pies on Raising $450m in an ETF in Less Than 6 MonthsHaving raised over $450m in less than 6 months, Warren Pies, Founder of 3Fourteen Research and Portfolio Manager of $FCTE, has had one of the most successful independent ETF launches of all time. Despite the seemingly overnight success of his fund management business, the real story is about the steady growth of his research business that feeds into everything they do.. He explains how his research business has become a pipeline of investor interest in his ETF business and how research relationships flip the traditional client interaction on its head. He also discusses why he chose to focus on setting...
2024-12-2651 min
Monetary Matters with Jack FarleyThe Research to AUM Pipeline | Warren Pies on Raising $450m in an ETF in Less Than 6 MonthsHaving raised over $450m in less than 6 months, Warren Pies, Founder of 3Fourteen Research and Portfolio Manager of $FCTE, has had one of the most successful independent ETF launches of all time. Despite the seemingly overnight success of his fund management business, the real story is about the steady growth of his research business that feeds into everything they do. He explains how his research business has become a pipeline of investor interest in his ETF business and how research relationships flip the traditional client interaction on its head. He also discusses why he chose to focus on setting...
2024-12-2651 minMonetary Matters with Jack FarleyU.S. Recession To Be Revealed By January 2025 “Data Bomb” | Danielle DiMartino BoothDanielle DiMartino Booth, CEO & Chief Strategist of QI Research, joins Monetary Matters to share her views on the December Federal Reserve FOMC meeting and her outlook on markets and the U.S. economy in 2025. DiMartino doubles down on her call that the U.S. economy is already in a recession, and explains why she thinks on January 29 2025 will be the day that the true weakness of the job market will be revealed. Recorded on December 19, 2024.Follow Monetary Matters on:Apple Podcast https://rb.gy/s5qfyhSpotify https://rb.gy/x5...
2024-12-191h 04Monetary Matters with Jack FarleyJack Farley & Max Wiethe on Fed Hawkishness & Steep Stock Market Sell-offJack welcomes Max Wiethe, business partner and host of Other People’s Money podcast, to break down December’s Federal Reserve meeting. Jack shares why he bought puts prior to the Fed’s meeting and his views for the market after its steep sell-off of nearly 3%. Max and Jack debate to what extent the monetary policy is hawkish, the bull case for the dollar, and how many cuts (if any) the Fed will do in 2025. Recorded just after the FOMC meeting on December 18, 2024.Follow Monetary Matters on:Apple Podcast https://rb.gy/s5qfyh
2024-12-1937 min
Monetary Matters with Jack FarleyInside the Secret World of Prop Traders | Noel Smith of Convex Asset ManagementNoel Smith, founder of Convex Asset Management has spent most of his career outside of the world of managing other people’s money. Instead, he traded his own capital as a proprietary trader. Prop traders are famed for generating staggering rates of return, but because they have no interest in raising money, their secrets and strategies generally remain behind closed doors. However, he has decided to bring these strategies to the hedge fund world at Convex Asset Management and while they don’t scale to produce the same level of returns their lack of availability outside the prop world give...
2024-12-1755 minOther People's Money with Max WietheInside the Secret World of Prop Traders | Noel Smith of Convex Asset ManagementNoel Smith, founder of Convex Asset Management has spent most of his career outside of the world of managing other people’s money. Instead, he traded his own capital as a proprietary trader. Prop traders are famed for generating staggering rates of return, but because they have no interest in raising money, their secrets and strategies generally remain behind closed doors. However, he has decided to bring these strategies to the hedge fund world at Convex Asset Management and while they don’t scale to produce the same level of returns their lack of availability outside the prop world give...
2024-12-1755 min
Monetary Matters with Jack FarleyActive Management Still Matters in Emerging Markets | Jamie CarterJamie Carter, Partner and Managing Director at Variis Partners has spent much of his career focused on the world of long-only emerging-market investment boutiques. In this interview with Max Wiethe, Carter discusses the huge differences between building a long only business and a hedge fund business, why launching fund vehicles out of the UK has become more difficult, the differences in raising capital in the US, UK, and Europe, and why he thinks emerging markets are the last hold outs for fundamental active managers. He also explains why EM investors and allocators are holding their collective breath waiting to...
2024-12-101h 17Other People's Money with Max WietheActive Management Still Matters in Emerging Markets | Jamie CarterJamie Carter, Partner and Managing Director at Variis Partners has spent much of his career focused on the world of long-only emerging-market investment boutiques. In this interview with Max Wiethe, Carter discusses the huge differences between building a long only business and a hedge fund business, why launching fund vehicles out of the UK has become more difficult, the differences in raising capital in the US, UK, and Europe, and why he thinks emerging markets are the last hold outs for fundamental active managers. He also explains why EM investors and allocators are holding their collective breath waiting to...
2024-12-101h 16Monetary Matters with Jack FarleyRumors of Job Market Demise Have Been Greatly Exaggerated | Jack Farley & Max WietheJack Farley welcomes Max Wiethe, his business partner and host of the Other People’s Money podcast, for a conversation about the job market, the stock market, and the recent central banking conference they attended. Recorded on December 6, 2024.Follow Monetary Matters on:Apple Podcast https://rb.gy/s5qfyhSpotify https://rb.gy/x56dx5YouTube https://rb.gy/dpwxezFollow Max Wiethe on Twitter https://x.com/maxwietheFollow Other People’s Money on Twitter https://x.com/OPMpodFo...
2024-12-081h 04Other People's Money with Max WietheThe Investor Up 1000% With No Down Years | Chris Brown and Aristides CapitalSince Aristides Capital’s inception in August 2008, Chris Brown has returned over 1,000% for their investors with a stunning 16-year track record of no losing years. In this interview with Max Wiethe, Brown explains how they’ve been able to sustain these results and grow their business to over $300m in AUM all while operating far from the typical financial centers where hedge funds cluster. They discuss how accumulating a plethora of lower capacity strategies, hiring and working with “well intentioned nerds,” and maintaining rigorous processes for post-hoc analysis and feedback have been some of the keys to their investment success...
2024-12-031h 03
Monetary Matters with Jack FarleyThe Investor Up 1000% With No Down Years | Chris Brown of Aristides CapitalSince Aristides Capital’s inception in August 2008, Chris Brown has returned over 1,000% for their investors with a stunning 16-year track record of no losing years. In this interview with Max Wiethe, Brown explains how they’ve been able to sustain these results and grow their business to over $300m in AUM all while operating far from the typical financial centers where hedge funds cluster. They discuss how accumulating a plethora of lower capacity strategies, hiring and working with “well intentioned nerds,” and maintaining rigorous processes for post-hoc analysis and feedback have been some of the keys to their investment success...
2024-12-031h 04Other People's Money with Max WietheThe Easiest Way to Launch a Hedge Fund | Understanding Fund Spinouts with Farid GuindoAsk anyone and they will tell you it has never been harder to start a hedge fund. That’s why so many of the most successful launches of late have been funds emerging from a prior firm with the backing of the big boss, otherwise known as spinouts. Julian Robertson’s Tiger Cubs are the perhaps most famous spinouts, but it is still an extremely popular trend today. Farid Guindo, CIO and founder of Drill Capital Management is taking advantage of these dynamics to launch his new fund with the backing of his mentor and former boss at Bornite Capi...
2024-11-2753 min
Monetary Matters with Jack FarleyThe Easiest Way to Launch a Hedge Fund | Understanding Fund Spinouts with Farid GuindoAsk anyone and they will tell you it has never been harder to start a hedge fund. That’s why so many of the most successful launches of late have been funds emerging from a prior firm with the backing of the big boss, otherwise known as spinouts. Julian Robertson’s Tiger Cubs are the perhaps most famous spinouts, but it is still an extremely popular trend today. Farid Guindo, CIO and founder of Drill Capital Management is taking advantage of these dynamics to launch his new fund with the backing of his mentor and former boss at Bornite Capi...
2024-11-2754 min
Monetary Matters with Jack FarleyHow To Build A Billion Dollar Hedge Fund From Scratch | Dan RasmussenDan Rasmussen has built his firm Verdad Capital into a billion-dollar asset manager on the back of one core activity, producing high quality research. Since Verdad’s inception in 2014, they have produced almost 500 pieces of research that they publish on their website weekly and distribute both on Twitter and to their large email list of readers. This research serves two functions. It’s both the backbone of the strategies employed at this highly quantitative firm, and a point of connection with existing and potential investors. In this interview with Max Wiethe, Rasmussen discusses how he’s used research to showca...
2024-11-1955 minOther People's Money with Max WietheHow To Build A Billion Dollar Hedge Fund From Scratch | Dan RasmussenDan Rasmussen has built his firm Verdad Capital into a billion-dollar asset manager on the back of one core activity, producing high quality research. Since Verdad’s inception in 2014, they have produced almost 500 pieces of research that they publish on their website weekly and distribute both on Twitter and to their large email list of readers. This research serves two functions. It’s both the backbone of the strategies employed at this highly quantitative firm, and a point of connection with existing and potential investors. In this interview with Max Wiethe, Rasmussen discusses how he’s used research to showca...
2024-11-1954 minOther People's Money with Max WietheThinking Outside the Style Box | The Hedge Fund Category Problem with Louis CamhiHedge fund strategies like distressed, long short equities, relative value, etc. are well defined and understood by allocators. As a result, funds that fit neatly into these style boxes can easily answer the question, “what type of fund are you?” But what if you don’t fit neatly into one of these boxes? Be too exact and no one will search for your niche strategy. Push the envelope to fit into one of these boxes and suddenly investors feel like they’ve been tricked into a meeting. This is a problem that Louis Camhi, founder and CIO of RLH Capital...
2024-11-1255 min
Monetary Matters with Jack FarleyThinking Outside the Style Box | The Hedge Fund Category Problem with Louis Camhi | Other People's Money with Max WietheHedge fund strategies like distressed, long short equities, relative value, etc. are well defined and understood by allocators. As a result, funds that fit neatly into these style boxes can easily answer the question, “what type of fund are you?” But what if you don’t fit neatly into one of these boxes? Be too exact and no one will search for your niche strategy. Push the envelope to fit into one of these boxes and suddenly investors feel like they’ve been tricked into a meeting. This is a problem that Louis Camhi, founder and CIO of RLH Capital...
2024-11-1256 minMonetary Matters with Jack FarleyA Defiant Chairman Powell Cuts Rates | Jack Farley & Max WietheThe Federal Reserve continued its course of interest rate cuts in the first FOMCmeeting following the election of Donald Trump and a defiant Chairman Powell stronglyrejected any notion that Trump’s presidency could affect the independence of theFederal Reserve. Here, Jack Farley and Max Wiethe discuss the Fed’s move in light ofrecent data, the stock market’s run both before and after Trump’s election, and theiroutlooks for stocks and the economy moving forward. Recorded on November 7th , 2024.Follow M...
2024-11-081h 01
Monetary Matters with Jack FarleyEnter the Kuppyverse | Harris Kupperman on Brand Building by Blogging at Praetorian Capital | Other People's Money with Max WietheHarris Kupperman, CIO and Founder of Praetorian Capital joins Max Wiethe to share how he’s grown his firm to over $300 million in AUM, largely by breaking the institutional mold. They discuss Kupperman’s choice to build a strategy with UHNW investors and family offices in mind rather than traditional institutional investors and the benefits of a diversified base of LPs. They also discuss the firm’s blog Kuppy’s Korner, the importance of authenticity in brand building, and his choice to register the fund as a 506(c).Clarification: At 50:48 Harris mentions that almost half the capital in the f...
2024-11-0657 minOther People's Money with Max WietheEnter the Kuppyverse | Harris Kupperman on Brand Building by Blogging at Praetorian CapitalHarris Kupperman, CIO and Founder of Praetorian Capital joins Max Wiethe to share how he’s grown his firm to over $300 million in AUM, largely by breaking the institutional mold. They discuss Kupperman’s choice to build a strategy with UHNW investors and family offices in mind rather than traditional institutional investors and the benefits of a diversified base of LPs. They also discuss the firm’s blog Kuppy’s Korner, the importance of authenticity in brand building, and his choice to register the fund as a 506(c).Clarification: At 50:48 Harris mentions that almost half the capital in the f...
2024-11-0557 min
Monetary Matters with Jack FarleyTo Zero and Beyond | Building Muddy Waters Capital with Carson Block | Other People's Money with Max WietheBuilding a successful hedge fund is hard. It’s even harder when you’re fighting the perpetual upward momentum of the market. Despite this headwind, Carson Block, CIO and Founder of Muddy Waters Capital, has made his firm into a successful fund management business and taken down billion-dollar frauds in the process. In this interview with Max Wiethe, Block explains why starting a fund became necessary to pursue activist short selling in a serious capacity, the pitfalls of capital raising and the different types of investors who are interested in specialized strategies like theirs, and how he is expanding his...
2024-10-291h 34Other People's Money with Max WietheTo Zero and Beyond | Building Muddy Waters Capital with Carson BlockBuilding a successful hedge fund is hard. It’s even harder when you’re fighting the perpetual upward momentum of the market. Despite this headwind, Carson Block, CIO and Founder of Muddy Waters Capital, has made his firm into a successful fund management business and taken down billion-dollar frauds in the process. In this interview with Max Wiethe, Block explains why starting a fund became necessary to pursue activist short selling in a serious capacity, the pitfalls of capital raising and the different types of investors who are interested in specialized strategies like theirs, and how he is expanding his...
2024-10-291h 33Other People's Money with Max WietheIntroducing Other People's MoneyMax Wiethe interviews the very best investment fund managers about the business of Other People's Money. Max is in partnership with Jack Farley and Other People's Money is part of the Monetary Matters podcast network.Stay tuned for the first episode of Other People's Money with activist short seller Carson Block, airing in late October 2024.Follow Max Wiethe on Twitter https://x.com/maxwietheFollow Other People's Money on Twitter https://x.com/OPMpodFollow Jack Farley on Twitter https://x.com/JackFarley96
2024-10-2801 min