This week, we talk to Alex Guerreich Hon Te Advisors, a prudent global macro hedge fund. Previously, Guervich ran JP Morgans’ macro book of trade. In 2020, Hon Te ranked 2nd in net returns, and a top 10 emerging manager. He is its author Next Perfect Trade And most recently, March 2020 Trades.
We discussed his position towards 2020: Based on his macro vision, he believed that the bond market was erroneously valuing the possibility of economic displacement in the face of the recession. Once the epidemic hits, he puts pressure on those downside rate bets and other side effects, resulting in substantial gains in his portfolio.
Guerrevich says he prefers to be home rather than gambler and has a known range of potential outcomes for most of his business. But he also explains the challenges of large hedge fund strategies, such as risk equality; They create opportunities for more small trading firms (like her).
We discuss why many become successful investors and traders. “Ultracrepidarians.Derived from Latin –Shoe maker, no sandals“(Literally” Schumacher, not out of shoes “). The reference is to a person who” expresses an opinion beyond the scope of their knowledge or skills. “Over the past few years, Tactics have shown themselves in every case so far.
A wonderful aspect of this March 2020 Trades Slack quotes were widely used – about 30% of the book is from Hon Te’s Real-Time Trader’s Slack Channel, which shows real-time stamped contacts. Both of his books use metaphors – in his most recent book, Business is a War with Medieval Weapons and Shields; His previous book used astronomical nomenclature: accusation discs, black holes, time extensions, and wormholes to illustrate how his trading was exposed.
Here is a list of his favorite books; A transcript of our conversation is available here Monday.
You can stream and download our entire conversation, including podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg and Acast. All our previous podcasts on your favorite pod host can be found here.
Be sure to check out our Masters in Business next week with Boaz Weinstein of Saba Capital. The firm specializes in investing in credit and capital structures, including credit default swaps, tail protection and volatility trading. Saba is one of the 5 largest SPAC investors (though not as you might think). Previously, Weinstein co-chaired Deutsche Bank’s Global Credit Trading with 650 professionals and members of the Global Markets Executive Committee. Boaz became infamous for being the other end of the London whale trade for JPM, losing ব্যা 2B to Bank and 100 100 million to Saba.
Alex Guerreich’s favorite book
“The Lord of the Rings Trilogy”: The Fellowship of the Ring / The Two Towers / The Return of the King By JRR Tolkien
Wheel of Time Premium Boxed Set I: Book 1-3 (The Eye of the World, The Great Hunt, The Dragon Reborn) By Robert Jordan
Temerir By Naomi Novik
Spinning Silver By Naomi Novik
A brightness long ago By Guy Gabriel K.
The path of the dragon By Daniel Abraham
Ender’s game By Orson Scott Card
Children of the earth and the sky By Guy Gabriel K.
A game on the throne By George R. R. Martin