Alpha Exchange

68
Investing #180

The Alpha Exchange is a podcast series launched by Dean Curnutt to explore topics in financial markets, risk management and capital allocation in the alternatives industry. Our in depth discussions with highly established industry professionals seek to uncover the nuanced and complex interactions between economic, monetary, financial, regulatory and geopolitical sources of risk. We aim to learn from the perspective our guests can bring with respect to the history of financial and business cycles, promoting a better understanding among listeners as to how prior periods provide important context to present day dynamics. The “price of risk” is an important topic. Here we engage experts in their assessment of risk premium levels in the context of uncertainty. Is the level of compensation attractive? Because Central Banks have played so important a role in markets post crisis, our discussions sometimes aim to better understand the evolution of monetary policy and the degree to which the real and financial economy will be impacted. An especially important area of focus is on derivative products and how they interact with risk taking and carry dynamics. Our conversations seek to enlighten listeners, for example, as to the factors that promoted the February melt-down of the VIX complex. We do NOT ask our guests for their political opinions. We seek a better understanding of the market impact of regulatory change, election outcomes and events of geopolitical consequence. Our discussions cover markets from a macro perspective with an assessment of risk and opportunity across asset classes. Within equity markets, we may explore the relative attractiveness of sectors but will NOT discuss single stocks.

Recent Episodes
  • Corey Hoffstein, CIO, Newfound Research
    Apr 30, 2025 – 01:00:07
  • The VIXgilantes Strike Back
    Apr 28, 2025 – 00:31:56
  • Matt King, Founder, Satori Insights
    Apr 25, 2025 – 00:56:09
  • Steve Englander, Head of G10 FX and North America Macro Strategy, Standard Chartered
    Apr 23, 2025 – 00:52:26
  • The Vol Shock Heard 'Round the World
    Apr 7, 2025 – 00:24:09
  • Campbel Harvey, Professor of Finance, Fuqua School of Business, Duke University
    Mar 31, 2025 – 00:36:39
  • GeoVolitics and Gold
    Mar 24, 2025 – 00:27:23
  • Owen Lamont, Senior Vice President, Acadian Asset Management
    Mar 11, 2025 – 00:54:50
  • Roxton McNeal, QIS Lead Portfolio Manager, Simplify Asset Management
    Mar 4, 2025 – 00:47:54
  • GeoVolitics, Implied Correlation and Option Pricing
    Mar 3, 2025 – 00:15:09
  • Is There a Plumbing Problem in Equity Correlation?
    Feb 10, 2025 – 00:21:11
  • Eric Balchunas, Senior ETF Analyst, Bloomberg Intelligence
    Jan 30, 2025 – 00:46:09
  • Anniversary Episode: Reflections on the Podcast
    Jan 23, 2025 – 00:47:40
  • Digital Gold and Actual Gold
    Jan 11, 2025 – 00:19:21
  • IBIT…the Hottest Option on the Planet
    Dec 18, 2024 – 00:21:28
  • Ali Samadi, Managing Director, Equity Derivatives, Nomura Securities
    Dec 17, 2024 – 00:51:54
  • Michael Green, CFA, Portfolio Manager, Chief Strategist, Simplify Asset Management
    Dec 10, 2024 – 00:55:10
  • Bitcoin, Price / Vol Spirals and MSTR
    Dec 7, 2024 – 00:23:10
  • Victor Haghani, Founder and CIO, Elm Partners
    Dec 7, 2024 – 00:55:53
  • 20 Things to Do Before You Ask for a Price (Part 4)
    Dec 2, 2024 – 00:14:53
  • Rocky Fishman, Founder and CEO, Asym 500 LLC
    Nov 26, 2024 – 00:45:35
  • 20 Things to Do Before You Ask for a Price (Part 3)
    Nov 26, 2024 – 00:16:40
  • Dominique Toublan, Head of US Credit Strategy, Barclays
    Nov 23, 2024 – 00:50:04
  • 20 Things to Do Before You Ask for a Price (Part 2)
    Nov 19, 2024 – 00:17:08
  • 20 Things to Do Before You Ask for a Price (Part 1)
    Nov 15, 2024 – 00:13:14
  • Post Election Reflection (on Vol)
    Nov 12, 2024 – 00:16:14
  • Shailesh Gupta, Head of Structural Alpha, Simplify Asset Management
    Nov 5, 2024 – 00:49:56
  • Meb Faber, Founder and CEO, Cambria Investment Management
    Nov 1, 2024 – 00:56:37
  • The DOTS (Discounting of Trump Success)
    Oct 26, 2024 – 00:21:14
  • Hedge When You Can, Not When You Have to
    Oct 16, 2024 – 00:15:58
  • The Opera of Option Prices
    Oct 9, 2024 – 00:16:48
  • Option Prices are Singing
    Oct 5, 2024 – 00:15:45
  • ODTE? No, OTTD!
    Sep 23, 2024 – 00:15:36
  • Kris Abdelmessih, Co-Founder, Moontower AI
    Sep 11, 2024 – 00:51:04
  • Elections Have (Vol) Consequences
    Sep 9, 2024 – 00:14:20
  • Lessons from the Rowdy VIX
    Sep 3, 2024 – 00:15:05
  • Kathryn Rooney Vera, Chief Strategist, StoneX Group Inc.
    Aug 27, 2024 – 00:39:46
  • VIX Went Cray Cray
    Aug 20, 2024 – 00:14:04
  • Vineer Bhansali, Founder and CIO, LongTail Alpha
    Aug 19, 2024 – 00:50:23
  • Oliver Brennan, FX Volatility Strategist, BNP Paribas
    Aug 15, 2024 – 00:53:13
  • Markets are Never Say Never
    Aug 12, 2024 – 00:17:20
  • Dan Greenhaus, Chief Strategist, Solus Alternative Asset Management LP
    Aug 8, 2024 – 00:55:18
  • Lisa O'Connor, Head of Global Model Portfolios & Co-CIO for Multi-Asset Solutions, BlackRock
    Aug 3, 2024 – 00:40:27
  • Man and Markets On Wire
    Jul 30, 2024 – 00:15:36
  • Vol Laundering and the Portrait of a Perfect Hedge
    Jul 12, 2024 – 00:14:23
  • Michelle Meyer, Chief Economist, Head of the Mastercard Economics Institute
    Jul 11, 2024 – 00:37:49
  • Cuban’s Collar is Jensen’s Alpha
    Jun 27, 2024 – 00:16:47
  • Correlation, Crowding and Convexity
    Jun 20, 2024 – 00:15:30
  • Garrett DeSimone, Head of Quantitative Research at OptionMetrics
    Jun 18, 2024 – 00:48:44
  • There’s No Crying in Correlation
    Jun 13, 2024 – 00:13:42
Recent Reviews
  • Collar John
    Glad I found it
    Thanks so much for creating it public
  • Derivatives Trader
    Colin Lancaster interview was great
    Alpha Exchange is one of my favorite podcasts. Really smart discussions around global macro, volatility, convexity. Great guests and Dean is a fantastic interviewer
  • Blingo gold
    Great content, great host
    I learn a lot whenever I listen to Alpha Exchange. Dean is able to secure terrific practitioners and knows how to draw out valuable insights from his guests. I always look forward to Alpha Exchange podcasts.
  • Db201543
    Market Wizards-like
    Superb podcast that strikes me as a more current events focused version of The Market Wizards series
  • obacker19
    Insightful and actionable! 🔥
    Whether you’re well established as someone innovating in the world of banking and finance, or just getting started as a catalyst for change within your organization - this is a must-listen podcast for you! Dean does an incredible job leading conversations that cover a huge breadth of topics related to the ins and outs of successfully navigating an ever changing global investment landscape - from leaders who’ve actually walked the path. Highly recommend listening and subscribing!
  • chicago1969
    Great podcast
    Dean does a great job interviewing his guests and trying to get actionable ideas.
  • Viswavi
    Every aspiring hedge fund manager should listen to this podcast
    Just happened to find this podcast on iTunes and it's just straight fire. This Dean dude has a phenomenal speaking voice, and the finance knowledge is very compelling too, if true
  • JohnnyB_
    Great
    I’m a deriv PM and LOVE this pod. Nice work !
  • vagabondtech
    Must listen for market professionals
    Dean Curnutt is one of the most insightful experts on risk in the industry. And the people he talks to are among the best practitioners as well. I will be making an allocation of my learning time to this podcast and recommend it to everyone trading risk or focused on risk.
  • JD Cronin
    Good start on this subject matter
    I have met Dean on a few occassions at industry events and I have always admired his perspective on what is happening in the derivatives markets and the context in which those markets are operating. He has already had an interesting array of guests so far on this podcast and I am looking forward to hearing more.
  • Mpassy18
    Smart
    Great conversations that highlight what’s going on in alternatives. Dean is thoughtful and provoking. Can’t wait for more.
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