Cover art for podcast The Derivative

The Derivative

162 EpisodesProduced by RCM AlternativesWebsite

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… read more

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Marrying Fundamental Factors into Commodity Quant with Patrik Safvenblad of VOLT CM

November 16th, 2023


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 …

A brief history of Corn, food co valuations, GMO vs non GMO, and a guacable chip with Zack’s Mighty founder Zack Gazzaniga

November 9th, 2023


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 …

Trend Following Asset Allocations with Jon Robinson of Blueprint

October 26th, 2023


In the constantly changing and often unpredictable industry that is wealth management, is it possible to systematize an asset allocation approach? …

Systematic Commodity Trading (without Trend) with Jae-Min Hyun of NWOne

October 5th, 2023


In commodity trading, where volatility reigns supreme, finding an edge can be daunting. In this episode of The Derivative, we switch up our normal …

A Philly Alts Steak: Talking Commodities, Stacking, and Systematic with Auspice, Newfound & Campbell

September 28th, 2023


Philadelphia is renowned for various iconic symbols, including the Liberty Bell, Rocky Balboa, the famous Philly cheesesteak, and, most recently, …

Opportunities in Option Mutual Funds with Russ Kellites

September 21st, 2023


In the ever-evolving world of finance, change is the only constant. Like the shifting tides of the market, options trading has transformed from …

Long/Short Commodities with Emil van Essen & Bryan Kiernan of Katonah/EVE

September 14th, 2023


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 …

Portfolios of Power Futures with AMPD ETF’s Tim Kramer

August 31st, 2023


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 …

Why Systematic? Why CTA? Why Now? A panel event with Mercer, Campbell, EMC Capital, & Resolve

July 27th, 2023


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 …

Trend Following Plus Nothing with Jerry Parker

July 20th, 2023


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 …

The World of Equity Hedging, Part II with Jason Buck

July 13th, 2023


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 …

Volatility (LIVE IN VEGAS) panel discussion

June 29th, 2023


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 …

Replicating Babies, Trend Following, Hedge Funds, and Warren Buffet with Corey Hoffstein

June 15th, 2023


If a replicant in the 1980s sci-fi classic Blade Runner was a genetically engineered, bio-enhanced person with para-physical capabilities, "composed entirely of organic substance," created for slave labor – what does …

Global EQD ’23 Breakdown with Jason Buck (part 1)

June 8th, 2023


Didn’t get the chance to head to Vegas for the Global EQD conference. No worries. We’ve got you covered.

We're teaming up with the one and only …

The Current state of Commercial Real Estate: Armageddon or Overblown? Setting things straight with Matt Lasky of Equity Velocity Funds

June 1st, 2023


We’re back! Hitting first up with the question of where the current state of Commercial Real Estate is at since COVID. Is the market coming back? Were the hits too hard with everyone out of the office? We’re looking at …

Adding Spreads and Options to Trend Following, with Moritz Seibert

May 11th, 2023


We’re back in the trend space this week, diving into the pros and cons of classic trend following, as well as exploring new methods of trend, …

AI isn’t coming…it’s already here, with Adam Butler and Taylor Pearson

May 4th, 2023


How fast is the fast moving world of AI moving after the launch of Chat GPT and crazy pace of new apps and tools. It turns out…. Really Fast!  …

Alt (Digital) Trend Following with Sarah Schroeder of Coinbase Asset Mgmt.

April 27th, 2023


How do you get a job at a top quant shop?  With a little love from grandma?! How do you navigate a systematic strategy in the fast-moving world of digital assets? On this episode of The Derivative, Sarah Schroeder of …

Stories for Traders: A Trend followers’ journey through it all with Andrew Strasman of Totem Asset Group

April 13th, 2023


Have you ever wondered how successful traders make their fortunes in the markets? In this episode of The Derivative Podcast, we explore the world of …

What are the Options for tech employee Options, With Bryce Emo of Sidecar Financial

April 6th, 2023


Today’s episode we are passengers on Bryce Emo’s rig, as we ride along and chat about how his company Sidecar Financial assists in providing private …

Searching for Volatile Macro Environments with Alfonso Peccatiello, The Macro Compass

March 30th, 2023


What was the short-lived SVB baking crisis all about?  Has it forced the Fed’s hand?  Are we done tightening? Lots of Macro questions so who better to dig into it with than the appropriately nicknamed Macro Alf. In this …

The Conscientious Culture behind Risk Control with Kapil Rastogi of PlusPlus

March 23rd, 2023


As investors and traders, we all strive for success in the markets. But what sets the best apart from the rest? According to Kapil Rastogi, the President and co-founder of PlusPlus Capital Management, it's all about …

Setting the record straight – Trend following: the proof is in the track record with Marty Bergin of DUNN Capital

March 16th, 2023


When it comes to investing, there are countless strategies to choose from, each with its own set of pros and cons. One strategy that has stood the …

WTF?! Will 0DTE Cause Gammageddon? With Mike Green and Craig Peterson

March 9th, 2023


WTF is “Gammageddon”?  What do 0DTE options have to do with it?  Should I be fearful? Should I be greedy? We’re getting into all of it in this …

You still don’t have enough Trend Following or Foreign Equity exposure with Meb Faber

March 2nd, 2023


Grab your favorite trucker hat/baseball cap, and settle in for this episode where Jeff picks Meb Faber’s brain on everything from skiing to picking an investment advisor because they can get you on at Riviera Country …

Volatility as an Asset Class with Jason Buck, Zed Francis, Rodrigo Gordillo, and Luke Rahbari

February 23rd, 2023


We’re back this week bringing you the second half of our Miami event - sharing the open discussion and panel portion that focused on volatility as an …

We’re Back!! Talking Trend, Miami, and Volatility with Nasdaq’s Kevin Davitt

February 16th, 2023


We're back with a new episode of The Derivative, and this time we're talking all things trend-following, Miami, and volatility with Kevin Davitt from …

Why hasn’t “VOL” done better amidst stock market losses in 2022 with Logica’s Wayne Himelsein

December 8th, 2022


Despite the market being down substantially this year, bouncing around inside of bear market territory, it's been a bit of a challenging year for …

What the hell is going on in logistics and is there any relief in sight? with Woodson Dunavant

November 17th, 2022


This week on the Derivative we're doing it a little differently sharing our platforms with RCM's Agriculture podcast, The Hedged Edge. The Hedged …

Getting Long Skew in Short (term) trading models, with Quest Partner's President, Michael Harris

November 3rd, 2022


Jeff loves it when he sits across from someone who, like him, has been in the niche-managed futures part of the investment world for their entire career. There’s not all that many of them, and today's guest, Michael …

Being a GenZ’er during Crypto Winter with @DeadCaitBounce's Caitlin Cook

October 25th, 2022


How do all these smart people end up in the crypto space? Versus the hedge fund world or traditional finance, or doctor/lawyer, etc.  And how do investors separate the signal from the noise amongst all the meme stock …

WTF is LDI, and What’s working in Vol Trading with Zed Francis of Convexitas

October 13th, 2022


Cover the kid’s ears… because we’re going back to our WTF format to ask what the actual Fingazi is going over in the UK with the bank of England raising rates, then buying a bunch of Gilts to save their pensions. The …

Is there room for a VIX competitor, SPIKES founder Simon Ho sure thinks so.

October 6th, 2022


How do you create a new futures contract?  You need an exchange. And you need something that changes in price, like a commodity market – or a financial index. This week we're diving deep into crafting an index with T3 …

Hurricanes, Cat Bonds, and the Billions at Risk with Dr. Jeff Masters and Chris McKeown

September 29th, 2022


Otherworldly forces can affect the market and hurt it just as much. Hurricane Ian continues to bring surges, winds, and flooding to Florida, and we have our own hurricane swirling around the set. That's right, we're …

The Game of Trading with SIG Alums Kris A, Tina L, & Steiner

September 22nd, 2022


We have a little saying over here on The Derivative, The More, The Merrier, and on this week's episode of The Derivative, we're not chatting with one guest, but THREE! Class may no longer be in session, but we are …

Trends, Inflation Protection, & Getting Investors to the Finish Line with Eric Crittenden of Standpoint

September 15th, 2022


In the chaotic world we’ve endured since 2020, it turns out all you needed was an outlier-loving strategy to get you through the storm. We’re talking …

Nobody is prepared for a 2nd leg down, with Ari Bergmann of Penso Advisors

September 8th, 2022


It's not every day you get to sit down with a Volatility veteran with over 30 years of experience…..Well, maybe it’s a bit more common here on the …

The Business of Staying Wealthy with Homer Smith of Konvergent Wealth

September 1st, 2022


For those lucky few who’ve sold a business, inherited wealth, or otherwise find themselves in the enviable position of staying wealthy, not getting …

There’s no Stupid Options questions, just Stupid Options Courses, SurgiFi attends Benn Eifert’s Class

August 23rd, 2022


Summer’s nearly over and class is definitely back in session for this episode, as we're about to get schooled on options and trying to separate the …

Using the Laws of Trading to find our edge with Agustin Lebron

August 11th, 2022


We’re breaking the law...the laws of trading, that is! On this episode of the Derivative, we're joined by Agustin Lebron, who started his career as an engineer and turned prop trader (you'd be surprised how common of a …

It's not whether commodities keep going up, it's whether they remain distinct and volatile with Tim Pickering of Auspice

August 4th, 2022


This week we're adding a different twist to our typical episode, and we're diving into WHY Commodities can be accretive in your portfolio with Tim …

YOLO is BS, and Investing as just one Dimension of Wealth with Brian Portnoy of Shaping Wealth

July 28th, 2022


Will the real Portnoy please stand up? This week's guest may not be rating pizzas worldwide in one bite, but he is an expert at simplifying the complex world of money — we're sitting down with the one and only Brian …

Don’t Call it Private Equity, Seeking Value (and Tax Alpha) in Small Business with Adam Tkaczuk

July 21st, 2022


It's not every day you get to talk about investing and food in the same conversation, and this week, refinancing, restructuring, and investing in niche businesses is on the menu with Adam Tkaczuk(@Adam_Tkaczuk). Adam is …

Covering Calls and Charting Curves with Jay Soloff of Investors Alley

July 14th, 2022


You may know this week's guest as a Kansas City Chief and sometime Royals fan on Twitter, but he has more than one connection to Kansas City. Jay …

Cotton the Canary, Why it’s a leading indicator, and how it’s traded with Ron Lawson

July 7th, 2022


Are the Fed’s hikes starting to dampen inflation? Oil, grains, and metals have all fallen from their highs. But the rarely spoken of Cotton market was one of the first to crack…falling from 1.58/lb to 0.95/lb in just a …

Trend Following Crypto with Leigh Drogen of Starkiller​

June 30th, 2022


What should we make of the recent crypto crash?  A sign this is all a scam? Or just another dip in the cycle? Gather round; you're in for an …

TIPS, Options & Rates. Increased Volatility environments with Nancy Davis

June 23rd, 2022


This week's guest may be new to Twitter (@nancy__davis), but she's certainly not new to the wide world of volatility in all its wonderous “fruit” …

It’s Not a Fed Put, it’s a Fed Short Call! And more inflation thoughts with StoneX’s Vincent Deluard

June 16th, 2022


In this week's episode, Jeff talks with StoneX's Global Macro Strategist, Vincent Deluard @VincentDeluard, who authors weekly research reports on global macro trends, asset flows, European capital markets, and …

Algorithmic Sports Betting, Trading Metals to Trending Commodities, & Crypto’s Future with Charlie McGarraugh of

June 9th, 2022


We're taking flight and zooming over to the big bend for a cheerio chat with Charlie McGarraugh, an ex-midwesterner turned londonite. Charlie is the Chief Strategy Officer at and has an impressive resume …

What happens in Vegas…. Gets Dished on this Pod. Overheard at a Derivatives Conference, Part 1

June 2nd, 2022


Viva Las EQ Derivatives... This week Jeff journeys back to the Windy City from Sin City, where he is joined by a special guest, Mutiny's very own Jason Buck @JasonMutiny. In this episode, they give essential insight …

Wine as an Asset Class: Demands, Dilemmas, & Distribution with Vinovest's Anthony Zhang

May 26th, 2022


You're driving down the winding roads of Napa Valley, visiting the countless wineries, taking in the beautiful scenery, and enjoying the various …

Vol Arb, Rates Vol, Dispersion, & Risk Premium. Part II with Noel Smith

May 19th, 2022


We're back for part two with Noel Smith – where we dig into the types of options and volatility strategies, he employs for his Convex AM hedge fund. …

Setting the Risk Parity Record Straight (it’s NOT just stocks/bonds) with Resolve’s Rodrigo Gordillo and Mike Philbrick

May 12th, 2022


We’re talking with the purveyors of one of the best performing mutual funds thus far in 2022, the dynamically shifting asset allocator, RDMIX (past …

The Glory Days, Market Making & Trading Options at the CBOE with Noel Smith of Convex AM

May 5th, 2022


This week, we're painting the picture of what life on Chicago's option trading floors was like at the CBOE...but there's a catch — we put it all on the table and needed two episodes! Today's guest came into asset …

Trend Following, Signal Deterioration, & Crypto Modelling With Quant Artur Sepp

April 28th, 2022


This week, we're adding another stamp to our Derivative passport and traveling to Zurich, Switzerland, as we talk to the Head of Systematic Solutions …

What’s New about the New -1x/+2x VIX ETFs SVIX and UVIX, w/ Stuart Barton, Jim Carroll & Vance Harwood

April 21st, 2022


A little over four years since 2018’s Volmageddon, and 2 years after TVIX got terminated – two new VIX ETF’s were recently launched – the 1x short …

Using Emotions to Make Better Decisions and Deliver Results with ReThink’s Denise Shull

April 14th, 2022


Forget about not being emotional in your investment process. Tap into those emotions! According to today's guest Denise Shull, that is the recipe for …

Hedge Funds vs ETFs, Passive vs Active, 70s Inflation vs Now, & Commodities vs CTAs with Simplify's Mike Green

April 7th, 2022


What exactly does a chief strategist do? Besides picking fights with Bitcoin HODLers on Twitter… And how exactly does one of the most prominent voices on the dangers of too much passive money trying to fit into a single …

Why is intraday trading so hard, Where is the ES liquidity, and When are most market moves happening (overnight), with Deepfield’s CEO, Bastian Bolesta

March 31st, 2022


Who in the right mind would choose to make a living day trading stock index futures? It must be one of the most competitive, most challenging arenas …

The Trillions of Dollars tracking Three Million Indices, with F.T.'s Finance Correspondent, Robin Wigglesworth

March 24th, 2022


Interesting times in the world bring interesting guests to the show. And, there's no better time than now to sit down with a global finance correspondent, especially with the U.S. unleashing their USD financial war …

Commodity Volatility, Global Macro, and Trend Following with Alan Dunne from Archive Capital

March 17th, 2022


Happy St. Patrick’s Day! The luck of the Irish is on our side as we celebrate today's episode with Dubliner Alan Dunne, CEO and Founder of Archive …

Vol Persistence, The Unholy Trinity of Risk, and the (100 yr) Dragon Portfolio for our 100th episode with Chris Cole

March 10th, 2022


Picture this...Downtown Chicago...December 2019 B.C. (Before COVID)...The RCM crew is venturing out to a small studio ready to record the first episode of The Derivative, with no video or clue what we were doing! Who …

A Macro take on Russia’s Gambit, Oil, Gold, Bitcoin and more with Luke Gromen

March 3rd, 2022


Oil prices spiking. Wheat at new highs. A bid in Bitcoin. Russia’s invasion on its neighbor, Ukraine, got the world's attention and moved all sorts of markets. While our human side rallies around the Ukrainian people, …

VIX in the 30s, talking market shocks and VIX spikes with Brian Stutland of Equity Armor

February 24th, 2022


With news of Russia invading Ukraine, it was as scary, market-wise, as it’s been since March of 2020 with global stock indices selling off rapidly overnight to send the Nasdaq into bear market territory, SP into …

Trend following. The dynamic systems & strategies that make up a modern CTA, w/ EMCs John Krautsack

February 17th, 2022


From his days as a clerk in the S&P pits to becoming Chairman and CEO of EMC Capital, John Krautsack is here to tell us about his journey in the futures industry — and nothing is off limits! From his wild west pit …

High Frequency Trading and Systematic Macro Funds with Matthew Hanna of Teza Technology

February 10th, 2022


There are not a lot of Florida Gator fans in Utah, just like there are few firms that move from high-frequency trading (HFT) into the mutual fund space. That's why Matthew Hanna from Teza Capital Management is here to …

Wood is Good! With the Lords of Lumber: Stinson Dean and Kyle Little

February 3rd, 2022


Timmberrrrr...welcome to the world of lumber! We’re laying the lumber in this episode talking through an exciting world some know as timber; others as fiber or wood, and the futures world as Lumber. Whatever you call …

Protecting the Portfolio not with Long Vol, but with Long Gamma, with Convexitas

January 27th, 2022


When in Rome do as the Romans do?...Did they have convexity? They had the word, convexitas, and in this episode, we are joined by not one, but …

Talking Tech, VC, eSports, Uranium, Bitcoin & more with Dr. Chris Dark

January 20th, 2022


Now we’re cooking! We’re turning up the heat and bringing an abundance of flavor in this episode with a special guest who discusses venture capital, working capital, adds in a dash of e-sports and computer games, and …

Emissions Trading and Carbon Allowance Futures with Michael Azlen

January 13th, 2022


We're taking a trip across the pond to London in this episode and diving into the carbon markets and emissions trading with Michael Azlen, CEO and founder of Carbon Cap Fund and Management. Whether you care about making …

2021's Vol moves, 2022's outlook, Meme stocks, Option Flows and KAI with Cem Karsan

January 6th, 2022


We're kickstarting the 2022 season of The Derivative with fan-favorite - Cem Karsan. In this episode, the FinTwit star better known as @jamcroissant

The Bitcoin ETF parade and Grayscale Trust, with Jason Urban of Galaxy Digital

November 20th, 2021


Join us in this, our last episode of the year, where we’re talking Crypto and Bitcoin ETFs with Jason Urban, Global Co-Head of Trading at Galaxy …

A Multi PM (Global) Macro Masterclass with Markian Zyga

November 13th, 2021


In this episode, we shed some light on one of the largest groups you’ve maybe never heard of, whose new “mission” is to seek out incredible trading …

Attaining an Allocator's Edge with Phil Huber

November 4th, 2021


This week is a cage match of a pod, going point/counterpoint on every Alt from private equity to fine art to digital assets with Phil Huber and the knowledge he’s about to drop in his upcoming new book ‘The Allocators …

Convex (CONVX) to the Core with Certeza’s Brett Nelson

October 28th, 2021


In this episode, we sit down again with one of the OGs of VIX futures trading & options, Brett Nelson, CEO of Certeza Asset Management, and discuss their new mutual fund — Convex Core and how it relates to their …

Weigh More than You Wanted to Know About Meat, with AgriTrend’s Simon Quilty

October 14th, 2021


In this week's pod, we're doing something new and digging into the derivative market's Ag roots in our first "Way more than you need to Know" series, starting with the Global Meat Markets. Joining us today discussing …

Reimagining Risk and Reinsurance (& Cat Bonds) with Chris McKeown of Vantage Risk

October 7th, 2021


We’re looking into the far reaches of the search for yield in this episode, diving into investors’ interest in so-called Cat Bonds, or catastrophe bonds, and the world of reinsurance and ILS (insurance-linked …

Why Whales Tails Whip Up Market Tremors with Hari Krishnan

September 30th, 2021


How do large delta hedging flows of market makers tie in with Central Bank quantitative easing? How do ETF rebalancing’s and structured note issuer movements shift markets? We sit down with options guru Hari Krishnan …

Blissfully Buying BB Bonds with Greg Obenshain of Verdad Capital

September 23rd, 2021


In this episode, we're stepping away from our ordinary world of futures and options to find out why boring old corporate bonds aren't all that boring …

Researching the Risks of Return Stacking with Corey Hoffstein & Rodrigo Gordillo

September 16th, 2021


Jeff is “stacking” two guests in this episode, welcoming 1. Corey Hoffstein, CIO and co-founder of Newfound Research, host of Flirting with Models Podcast, and co-conspirator on the Pirates of Finance YouTube channel; …

Digging Deep into ETFs with Davie Nadig of ETF Trends

September 9th, 2021


How is the ETF sausage made? Who creates the filling? The casing? Who buys it at the store? What other meat is it replacing?  We dig into all these tasty morsels and more with this episode’s guest – the ETF expert Dave …

Options to Trend Following, and Back Again with Scot Billington of Covenant Cap.

September 2nd, 2021


We jump back into some VIX and Volatility discussion with this week’s episode but also get to talk about trend following’s rise and fall (and rise …

Valuations….Are you F*&^ing Insane, with Howard Lindzon

August 26th, 2021


Our guest this episode is surely not a stranger to our listeners, with his voice reaching far and wide via StockTwits, the Panic with Friends podcast, his ever-changing Twitter handle (currently Metaverse Lindzon) and …

Charting a Chinese Commodities Course with Fred Schutzman of Abingdon Global

August 19th, 2021


What do you do when trends stop appearing for the quarter of a billion dollars you manage? Where do you go to find markets like the ‘good old days’ …

BITFD & Wake the F Up with Ben Hunt of Epsilon Theory

August 12th, 2021


Over 100,000 investors in 180 countries listen to Ben Hunt, founder of Second Foundation Partners and the Epsilon Theory blog, debunk the latest narrative machines in each of his opus-like post. So with Covid cases …

Behind the Buffered Notes Bonanza With Joe Halpern of Exceed Investments

August 5th, 2021


Who hasn’t been pitched a buffered note at this point? Participate in the upside and get credited back the first 10% in losses. What could go wrong? …

"Maybe I’m the Retail Idiot" with Bill Brewster

July 29th, 2021


Dive into this fun chat with the equally irreverent and intelligent Bill Brewster, the self-made value investor in the style of Warren Buffet who dishes on twitter @BillBrewsterSCG hosts the Business Brew podcast in his …

Teams of Options to Tackle the Tails with Jerry Haworth of 36 South

July 22nd, 2021


We’re excited to have one of the pioneers of options trading on this episode, Jerry Haworth -  Founder and CIO of renowned option and tail risk firm 36 South. In this wide-ranging talk, we dive into Jerry’s roots in …

The Kaoboy of Convertible Arb with Michael Kao

July 15th, 2021


Saddle up everybody, because we’ve got the UrbanKaoboy on this episode, who’s ridden everything from ponies to draft horses to mustangs over his 30+ years in the investment game, doing commodities and derivatives at …

Engineering, Exponentials, Enigmas, and Equations with Breaking the Market’s Matt Hollerbach

July 8th, 2021


What is it about engineers and seeing the world through a quant lens?  We’ve talked to plenty of quants who have an engineering mindset; but this episode’s guest is an actual engineer – doing his mechanical engineering …

The Kid who Kaptures Kurtosis with Kris Sidial of Ambrus Group

July 1st, 2021


Our guest this episode has quickly become one of the must follows on FinTwit with his mixture of motivational messaging and market savvy. Kris Sidial …

Tis This Inflation Transitory with CME Group Economist Erik Norland

June 24th, 2021


There’s a new word in the financial lexicon. Transitory. And it all has to do with whether recent moves higher in prices of everything from lumber to copper to labor are the first signs of 1970s type inflation, or….as …

Sowing the Seeds of AI Strategies with Howard Siow of Taaffeite Capital Management

June 17th, 2021


Artificial Intelligence is a hot topic in every walk of life, and perhaps no more so than in the world of hedge funds and alternative investments. Howard Siow, Founding Principal and CEO at Taaffeite Capital, joins The …

Carefully Constructing a Cockroach (portfolio) with Mutiny Funds Jason Buck and Taylor Pearson

June 10th, 2021


Who in their right mind would name an investment strategy after cockroaches?  Well, probably the guys who view themselves as staging a mutiny against …

Blame it on the Bossa Nova with New Market Wizard Tom Basso

May 27th, 2021


How do you get included in a Market Wizards book? How do you get a whole Michael Covel book written about you? You move from charting markets on …

WTF ^%$# is Happening With Crypto??

May 20th, 2021


We’re talking with two ‘in the crypto weeds’ traders/asset managers, Ben Upward of Synchronicity and Gary Basin, about crypto’s -30% one day drop, coinbase, the most surprising (& scariest) things about the recent …

Allocating Assets and Attracting Allocators with Ted Seides

May 13th, 2021


From actual capital allocator to branding his book and podcast “Capital Allocator,” Ted Seides has one of the biggest banks of knowledge in the capital allocation game. He’s a well-known author of two books, host of the …

The NON-Wisdom of Crowds with Nigol Koulajian of Quest Partners

May 6th, 2021


In through the nose – out through the mouth. In through the nose – out through the mouth.

You’ve now joined a headspace where we think you’re prepped to focus in and become one with today’s guest. He’s a well known CTA, …

Turning the Tables: Trading Pits and Dip Spits with RCM’s Jeff Malec

April 29th, 2021


Today’s guest is one you’ve heard many times before if you’ve listened to The Derivative,  but may not necessarily know all that well. He’s and alts/managed futures veteran, having started his career in Chicago’s famed …

A Crude Oil Cornucopia: Covid, Crack, CSOs & Contango with Brent Belote of Cayler Capital

April 22nd, 2021


COVID affected a lot of ways that we interacted with the world – it changed how we worked, how we socialized, how we entertained ourselves….and if you’ve been tuned into the markets over the past year, it also changed …

Yep, She's Opening Up Option Eyes with NOPE It's Lily

April 15th, 2021


*We apologize for potential audio issues with this episode – please see the transcript HERE or go to the episode blog on to download.*

Asian Markets, American Investments, & Accessing (Chinese) Futures with Alvin Fan of OPIM

April 8th, 2021


We’ve said it before and we’ll say it again – the opportunities in the Asian investment landscape are nuanced, emerging, and incredibly attractive. But on top of the excitement around the opportunities, there’s also …

eSports, ETFs, and Enormous Deals with the Sports Pomp, Joe Pompliano

April 1st, 2021


The world of sports and finance have continually meshed together – and the Covid-19 pandemic has fast tracked that even further. Between the growth of analytics, to financiers making their way into the pro sports arena, …

Making Market Music with Roy Niederhoffer with Roy Niederhoffer

March 25th, 2021


How many families have two brothers who’ve been in the hedge fund game for 30+ years, much less on polar opposites of the long vol/short vol …

Modeling Markets and Accessing AI with Robert Rotella and Jag Prakasam

March 18th, 2021


When you hear news about artificial intelligence (AI), it might be easy to assume it has nothing to do with you. But if you use face recognition on your phone? Check. Google auto-fills your search bar? Check. And …

Taming the Tails with LongTail Alpha’s Vineer Bhansali

March 11th, 2021


Forget fat tails, left tails, even tall tales. We’re going into extracting value from long tails of the distribution on the pod in this episode. Vineer Bhansali is a 29-year industry veteran, previously at PIMCO, a …

Crazy Commodity Cycles (and cross-continent motorcycles) with Jim Rogers

March 4th, 2021


The king of Commodities has entered The Derivative ring. You know his name, you’ve read his books, you’ve probably utilized his index, and now you’re listening to him in this most recent podcast episode. Jim Rogers is …

The VOLvengers: Wayne Himelsein (Iron Man) & Mike Green (Captain America)

February 25th, 2021


We’re bringing out the cake & ice cream for this pod because it’s The Derivative’s 1 year anniversary! If you’ve been with us since the beginning – you may fondly remember our inaugural episode The Human Behind The …

Playing like a Poker Pro in Life/Investments/Career with Chris Sparks

February 18th, 2021


Talking this week with Poker Pro Chris Sparks on everything from game strategy to deciphering A.I. capabilities and catching bots. With Founder, CEO, and Performance Coach of The Forcing Function we’re taking it back to …

Vol - Benn There, Done That with Benn Eifert of QVR Advisors

February 11th, 2021


Why can't vol managers tell good jokes? Bad timing? Buh dum tsss.
All jokes aside, we’re excited to be back talking Volatility on The Derivative with …

The Bull and Bear Cases for Bitcoin with Meltem Demirors & Nic Carter

February 5th, 2021


Bitcoin started the year with a bang, rising up above $41k before falling back into the 20ks, and settling in the mid 30ks lately. It was at $5k in …

Wallstreet Bets Busts Wallstreet? WTF ^%$#

January 28th, 2021


If you’ve been on the internet, watched TV, or talked to anyone outside of yourself in the past week and a half you can’t have missed it. GameStop stock ($GME) went from trading at a low of $3/share to +$400/share …

Wisdom from the Wizard Maker with Jack Schwager

January 21st, 2021


Welcome to the Wizarding World of Market Wizards – and today’s special guest is head wizard who wrote the actual books on market wizards, Jack Schwager. Jack has written 6 books on the markets including his original:

Gold, Gas, and Global Inflation with Diego Parrilla of Quadriga Asset Managers

January 14th, 2021


2020 was ruled by global macro events – are we looking at the same fate in 2021? Our guest today can talk not only global macro, but also volatility, …

Butler and Buck Back to Bookend 2020

December 30th, 2020


We’ve already covered the first three months of 2020 with Part I of our 2020 review. We’re now heading into Part II with Jason Buck, CIO at Mutiny …

2020’s Best Strategies, Styles, and Stories with Adam Butler and Jason Buck

December 23rd, 2020


2020 has been a year for the books – be it the fastest every market sell-off or a just as amazing tech rally from the lows. Whether you’re looking at it from a social/emotional/fiscal lens, it probably didn’t pan out …

Cover to Trend Legends Cover with Michael Covel

December 10th, 2020


It’s hard to get too far into the words Trend Following without running into the name Michael Covel. If you’ve ever looked into the strategy type, …

Really? Real Estate? Right Now? with Matt Lasky and Darren Kottle

December 3rd, 2020


Many investors look at commercial real estate as a high-risk, confusing, and sometimes scary way to invest. Our guests today show us why this isn’t the case. From commercial real estate, to mortgage-backed securities, …

Overheard at a Vol Conference, breaking down EQD Global 2020

November 27th, 2020


One of the leading volatility trading and derivatives investing events of the year wrapped up last month and we have lots of thoughts. From new vol …

The Mysteries and Makings of Machine Learning with Dr. Ernie Chan of QTS Cap

November 19th, 2020


Does all this Machine Learning stuff really work? If it’s so good, why aren’t AI powered hedge funds printing money? And what is the difference between AI, machine learning, deep learning, machine trading, and more. …

Don’t Buy the Narrative (and It’s All Narrative) with Epsilon Theory’s Ben Hunt

November 12th, 2020


Our guest today is somewhat of a modern philosopher, mapping out how the investing world sees the real world, while at the same time questioning his own place in that world and how he can change it for the better. Ben …

No President Yet, So Market Rallies Huge What ^%$#?

November 5th, 2020


Votes are being counted, CNN and Fox are on 24-hour reporting cycles, and Tweets/FB Posts/Texts are still being sent out at lightening speeds. What happens if a winner isn’t announced for 2 or more days? What happens if …

Who Would Want to SELL Options, with Mark Adams of Warrington Asset Management

October 29th, 2020


For every option buyer, there is a seller. The brave souls who are accused of picking up pennies in front of a freight train. But are they dumb? …

Debunking Trend Following’s Dead Theories with Kathryn Kaminski

October 22nd, 2020


Is trend following too big? Can managed futures do it without the bond tailwind they’ve had for 30 years? Does globalization take away …

Vol Curves and Vanna Charm with Cem Karsan

October 15th, 2020


Today’s pod is all about word play playing into alternative investment. How does Jam Croissant relate to Cem Karsan? What about Vanna Charm and …

Super Storms, Mathematical Modeling, and Hurricane Hunting with Dr. Jeff Masters

October 8th, 2020


With storms named Gamma and Delta making their way to US shores – we really couldn’t have timed this release better from a …

Bull Markets, Behavioral Biases, and Blogs with Baird’s Michael Antonelli

October 1st, 2020


If men are from Mars and women from Venus, it often feels like stock/bond investors are from Earth and us Alternative Investment folks are from …

Sequencing, Skew, and (Option) Strikes with Hari Krishnan

September 24th, 2020


We’re joined by option guru and author of ‘The Second Leg Down’ in this episode to talk through the real-time test of market crashes and volatility …

A Professor, Prop Trader, & Risk Manager walk into a bar, with Victor Canto

September 17th, 2020


The “bar” we walk into in this episode is one that specializes in blending the unique flavors of beta and alpha, and our mixologists are Victor …

Market Up/Vol Up, Market Down/Vol Down…WTF Episode

September 10th, 2020


So – what’s happening in the wide world of volatility? The market moved to new all time highs and the VIX actually went UP. The market then …

Canadian Commodities and Building Business with Tim Pickering of Auspice Capital Advisors

September 3rd, 2020


In today’s episode we’re pushing the boundaries of traditional alternative investments and getting into oil trading, trend following, and taking …

Straddles, SVXY, and (Gamma) Scalping with Logica’s Mike Green

August 27th, 2020


With a Top Gun-like bio of working with billionaires and big hedge funds, Michael Green is one of the top prospects in the alternative investment game. BUT, all we hear him talking about these days is his passive …

Expect the Expected and Control the Controllable with Russ Rausch of Vision Pursue

August 20th, 2020


We’re leaving the fire of hedge funds and jumping headfirst into the frying pan of……performance mindset? Yep, from pro athletes to pro traders, everyone needs a performance mindset, and  today’s guest founded his firm …

Debt, Dollars, and Deficits with CME's Blu Putnam

August 13th, 2020


It’s a job all in itself to be able to look at data – especially data that affects all of us on a daily basis – and be able to interpret that to make sense to yourself. Take that and have to turn it into something that …

Trend Following Turtle Tails (and Tales) with Jerry Parker

August 6th, 2020


Legend time. We’re hearing straight from the mouth of well-known Turtle Trader – Jerry Parker – on this episode to talk all things trend following. …

Do Hedge Funds Suck? With Max Nissman, Olivier d’Assier, and Scott Treloar

July 30th, 2020


We sat down with three different legs of the hedge fund stool who (feeling the currently hedge fund investment landscape is a bit broker) are …

Seeking (VIX) Certainty with Certeza's Brett Nelson

July 23rd, 2020


In a #ThrowbackThursday of sorts, we’re bringing you an episode recorded pre-pandemic where we hit the road and traveled to Utah to interview the brain behind Certeza Asset Management, Founder and CIO – Brett Nelson. …

BLNDX[ing] Trend Following and Global Equity with Standpoint’s Eric Crittenden

July 16th, 2020


How do you get investors to stick with an asset allocation that’s good for them in the long term, but maybe doesn’t taste so good over shorter timer periods?  Today’s guest has designed a new mutual fund to attempt just …

Why Charts and What Data with Sean Brown of YCharts

July 9th, 2020


In today’s episode, we’re passing by all the players and calling in the head coach – the head coach of Ycharts that is. Sean Brown – CEO of Ycharts joins us to talk about how this FinTech SAAS focused company is helping …

5 Asia/China Focused Hedge Funds, 1 Podcast!

July 2nd, 2020


We recently wrapped up our virtual conference: “Capitalizing on China’s Growth: Opening the Door for Investors and Managers” where we had some great one-on-one interviews with hedge fund managers operating in Asia and …

$TVIX gets Terminated – What^%$#

June 25th, 2020


Similar to how we quickly grabbed some experts to discuss Crude Oil going negative, we grabbed some VIX experts as soon as the news hit this week …

Noodling on Ensembles, Trend, & Convexity with Newfound’s Corey Hoffstein

June 18th, 2020


Our guest today is the Co-founder & CEO of Newfound Research, host of the popular podcast Flirting with Models, and FinTwit “influencer” – Corey …

Allocating to Alts with RPMs Alexander Mende

June 11th, 2020


In this episode, we’re flipping the script of our usual hedge fund manager and drilling down on the allocation side. Alexander Mende is a Senior Investment Analyst and Head of Investment Research at RPM Risk and …

Navigating Market Volatility with CBOE’s Kevin Davitt, Wayne Himelsein of Logica Capital Advisers, Jason Buck of Mutiny Fund, and Bastian Bolesta of Deep Field Capital.

June 4th, 2020


In this episode, we’re joined by a powerhouse group of volatility experts consisting of Kevin Davitt, Wayne Himelsein, Jason Buck, and Bastian …

Black Swans, Gray Rhinos, and Tigers..Oh My with Michele Wucker

May 28th, 2020


The financial world seems to have a fascination with zoomorphism – the attribution of animal names, emotions, or intentions to non- animal occurrences like market shocks. Black Swans are the famous one, but there’s also …

Tagging a Value to Pro Sports Teams with Bob Reif and Josh Moscot of TAG

May 21st, 2020


70 days without sports – seems unbelievable, right? The COVID-19 pandemic has affected us all in more ways than one, and while no sports for 2+ months is at the top of the “first world problems” list, it’s a void left …

Uncovering the Known Unknowns of the Pandemic with Chief Economist Blu Putnam, ReSolve's Rodrigo Gordillo, and Teza's Dan Deering

May 14th, 2020


In today’s episode, we have a little different structure and three unique guests to bring a fresh twist on The Derivative podcast. Blu Putnam of the …

Tackling Trading Technologies and (lower case t) technology with Guy Scott of TT

May 7th, 2020


Futures traders take clicking a price to generate an order on their PCs for granted these days, much less the instant delivery of every tick, order book data, and trade fills. How’s it all work?  How did it all used to …

Texas Style Trend Following with Salem Abraham

April 30th, 2020


This episode’s guest, Salem Abraham, is a bit of a legend in the trend following/managed futures space, with his 30+ years of knowledge and …

Valuing VIX and Volatility with Joe Tigay

April 25th, 2020


VIX and volatility guru (who also sidelines as CBOE & CNBC contributor and an RIA and CFO) Joe Tigay is on our pod to share some nuggets of VIX …

Crude Oil goes Negative… What^%$#

April 21st, 2020


Yesterday was a historic day for crude……and the trend continues today. With crude oil going negative for the first time ever. That’s right – May …

Exchanging Intellectual Assets with $TAIL, $SYLD $GVAL ETF-icionado Meb Faber

April 17th, 2020


In this episode we chat with an ETF creator, financial book author, and host of the popular Meb Faber Show podcast. We're talking with Meb Faber …

The principles of VIX trading with Alex Orus of Principalium

April 9th, 2020


In this episode we're diving deep into VIX futures and using that instrument to gain convexity in a portfolio, we chat with Swiss hedge fund manager …

Trading Chinese Futures Markets with Abingdon Global

April 2nd, 2020


Chickity China the Chinese chicken futures. Between strict regulations, gated access, mainland-based employees, and more seemingly difficult …

Trading Commodity Volatility – A Woman’s Perspective

March 26th, 2020


Take a listen to our latest podcast to hear why we think trading in and out of different volatility regimes in the commodity markets “like a woman” …

Capturing the Global Sell-Off with Bastian Bolesta of Deep Field Capital

March 19th, 2020


This timely episode gets into just what kind of investment strategy you would have needed to have to capture the huge down move in markets recently …

Crypto & Bitcoin Lending with Tom Anderson of Drawbridge Lending

March 12th, 2020


A little different than our usual “hedge fund strategy manager” we chat with Tom Anderson – journalist turned trader turned broker turned entrepreneur – who is now President and Chairman of the Board at DrawBridge …

Asset Allocation, AI, and the Alpha Process with Resolve Asset Management

March 4th, 2020


We sit down with the three Canadian founders of Resolve Asset Management to talk zebras walking amongst horses, mid-frequency trading (move over …

Staging a Market Mutiny with Jason Buck and Taylor Pearson of Black Pearl

February 27th, 2020


In this episode exploring the many facets of long volatility and tail risk exposure, we pick the brains of the founders of the Mutiny investment …

Decoding Execution Algos with Joe Signorelli & David Don

February 4th, 2020


This episode dives deep into the math and people behind what most people take for granted or don’t even know they need to improve their trading – execution algorithms. We cover Orlando as a favorite vacation spot …

The Life of a Discretionary Trader with Breakout Funds’ Aaron Larkin & Matt Laviolette

February 4th, 2020


This fun conversation talks with two guys who have chosen a life of monitoring the markets on a near real-time basis, covering serious strategy …

Wayne Himelsein: The Human Behind the Hedge Fund

January 27th, 2020


Wayne Himelsein is a hedge fund manager, President, and Chief Investment Officer at Logica Capital Advisers. Beyond that Wayne is a 25-year veteran in the trading space, and we're talking about hedge funds, his …

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