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The Contrarian Investor Podcast Posts

Season 3, Episode 16: Merger Arbitrage and Why to Not Fear The Antitrust Boogeyman

Published July 8, 2021

With Deepak Gurnani, Versor Investments

Deepak Gurnani, managing partner of Versor Investments, joins the podcast to discuss merger arbitrage investing. 

Merger arb is the rare strategy that can (really!) consistently produce non-correlated returns. But it isn’t easy to execute. Gurnani provides some information around what has worked for his firm and things to look for for those wishing to get involved with the strategy.

Not intended as investment advice.

MoreSeason 3, Episode 16: Merger Arbitrage and Why to Not Fear The Antitrust Boogeyman
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Season 3, Episode 15: Colin Lancaster is Fed Up!

Published June 23, 2021

The macro trader discusses his book and what to make of central bank policies.

Colin Lancaster, global head of macro/fixed income at Schonfeld Strategic Partner Fund, joins the podcast to discuss his book Fed Up! Success, Excess and Crisis Through the Eyes of a Hedge Fund Macro Trader.

The book spans the period from October 2019 to June 2020 and includes the height of the coronavirus crisis. This features heavily into the conversation. We also discuss the Federal Reserve and his view of current markets.

Content Highlights:
(Spotify users can click on the timestamp to link to the segment directly)
  • What went into him writing the book? What was the impetus? (3:50);
  • Macro investing and the need to be a diversifier and disaster hedge (7:38);
  • What is he most concerned about right now in markets? (12:07);
  • What does an investor do in this market, especially with the Fed continuing to hold rates near zero? (14:30);
  • The Fed’s experiment is “dangerous” and the central bank has “very little credibility” when it comes to inflation (18:55);
  • Background on the guest (23:49);
  • The Fed’s role in creating and fostering wealth inequality is significant, despite its good intentions (27:48);
  • How to go about fixing this? Does the Fed perhaps have too much autonomy? (31:30);
  • The book is technically a novel and has quite a few characters. Are these fictional or based on real people? (36:28);
  • Alternative data; some ideas of what to look for (40:35).
MoreSeason 3, Episode 15: Colin Lancaster is Fed Up!
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Season 3, Episode 14: Quick Call on Fed Meeting and Economic Outlook

Published June 15, 2021

With Scott Colbert, Chief Economist, Commerce Trust Company

Scott Colbert, chief economist at Commerce Trust Company in St. Louis, rejoins the Contrarian Investor Podcast to discuss the upcoming Federal Reserve meeting and state of the economy.

This was a quick call recorded over a phone line on Tuesday, June 15.

Content Highlights:

  • The Fed meeting that concludes June 16 and the coming discussion around the rolldown of QE (0:52);
  • Colbert’s reasons for being “grossly optimistic” about the economy (3:43);
  • The biggest concern is around the length of the current expansion (5:04);
  • The prospects of asset bubbles and why the ‘dot plot’ should see an increase from four to six or seven members of the FOMC who want to see higher interest rates (7:37);
  • Where does all this leave investors? (11:06);
  • What is driving the drop in bond yields (14:41);

Not intended as investment advice.

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