Épisodes

  • Ep. 338: Ken Tropin on Talent Recruitment, Fed Risks, and Biggest Underpriced Trade

    Ep. 338: Ken Tropin on Talent Recruitment, Fed Risks, and Biggest Underpriced Trade
    Dec 12 2025
    Ken Tropin is a legend in the macro space. He is the Chairman and the founder of Graham Capital Management (GCM) - $20bn fund. Ken founded GCM in 1994 and has grown the firm into an industry leading alternative investment manager focusing on global macro discretionary and quantitative hedge fund strategies. Prior to founding GCM, Ken had significant experience in the alternative investment industry, including five years (1989 to 1993) as President and Chief Executive Officer of John W. Henry & Company, Inc. and seven years (1982 to 1989) as Senior Vice President and Director of Managed Futures at Dean Witter Reynolds. In this podcast we discuss: Investment philosophy Differentiation from multi-strat funds Talent recruitment strategy; NY office Fed outlook Term premium as underpriced US deficit concerns and duration risk in long-end rates AI and technology Global central bank divergence Inflation pressures Private credit Dollar view Geopolitical risks Robin Hood Foundation You can learn more about Graham Capital here and here
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    29 min
  • Ep. 335: Marc Rubinstein on AI Bubble, Private Credit, Jane Street Rise

    Ep. 335: Marc Rubinstein on AI Bubble, Private Credit, Jane Street Rise
    Nov 20 2025

    Marc Rubinstein is author of Net Interest – a leading weekly newsletter on the world of finance. Before this, Marc spent ten years at leading hedge fund Lansdowne Partners, where he was a partner and portfolio manager. This was after he spent time on the sell-side working for Barclays Investment Bank (BZW), Schroders and then Credit Suisse, where he was head of the European banks research team. In this podcast we discuss:.

    • AI bubble historical analogies
    • 1907 crisis and non-bank growth
    • Private credit risks
    • Fraud cycles and market corrections
    • Jane Street's technological edge
    • Exchanges commoditise trading
    • Banks adopt blockchain technology
    • Fintech challenges incumbents
    • AI disrupts entry-level finance jobs
    • Books mentioned: 1929 (Andrew Ross Sorkin), Land Trap (Mike Bird)
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    43 min