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How to Succeed at Multi-Strategy Hedge Funds | Odd Lots
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May 20, 2024
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48:44Now PlayingMulti-strategy hedge funds are all the rage right now. But there's also a lot of confusion about what exactly they do, and how the the so-called "pod shops" differ from more traditional hedge funds. In this episode of the podcast, we speak with Giuseppe 'Gappy' Paleologo, a long-time veteran of the space. In addition to writing books about quantitative finance, Gappy was director of risk and quantitative analysis at Citadel and head of enterprise risk at Millennium, among many other jobs. He walks us through what multi-strat traders actually do all day, what makes for a good multi-strat candidate, and how to win in the pod shop game.
Key insights from the pod:
Intro -- 0:00
Gappy’s many jobs in the hedge fund industry — 3:51
How do pod shops make money? — 5:18
What are the benefits of working within a trading platform — 7:41
How 300 pods in one organization can stay diversified — 9:32
How pod shops manage risk — 14:56
The average lifespan of a portfolio manager — 20:25
Why the world belongs to the “obsessed” — 27:24
The two ways to create alpha — 29:05
Why assets still get mispriced in the age of Big Data — 33:31
What will be the next big innovation for hedge funds — 38:29
Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.
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