Cover art for podcast The Derivative

The Derivative

111 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


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

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 Zimbabwe, trading South African bonds, structuring derivatives, the point in his jazz career where talent and drive diverge, how 36 south got started, canoe marathons, why long term options rule, non-recourse leverage, Victoria Falls, swaptions, asymmetry, Chicago Blues bars, liquidity cascades, slow-moving south sea bubbles, leptokurtic curves, changing correlations and, of course - Teams of Options. Enjoy!



02:20-18:31=Zimbabwe to Auckland to London

18:32-44:10=Positive, Neutral Carry & Teams of Options

44:11-56:16=Long-Term Options & Non Recourse Leverage

56:17-01:04:29=What’s changed in 30yrs of Option Trading


Learn more about 36 South at 

And last but not least, don't forget to subscribe to The Derivative, and follow us on Twitter, and our host Jeff at @AttainCap2 or LinkedIn, and Facebook, and sign-up for our blog digest.

And visit our sponsor, the CME Group at to learn more about futures and options.

Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit

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