The Distressed Champions: Oaktree
Howard Marks built his fortune buying what others fear.
He turned a €275M loan into a €1.2B Football giant
The Investment Strategy⬇️
(Slides by ClioFinance)
Haven't written on anything in a while, so might be a little rusty, but let's give it a go...
Let's have a short thread about skew/smile delta and why the hell traders use it..
Back in the good ol' days of 1973 life was simpler, and delta (as B&S) modeled it was dP/dS
Haven't written on anything in a while, so might be a little rusty, but let's give it a go...
Let's have a short thread about skew/smile delta and why the hell traders use it..
Back in the good ol' days of 1973 life was simpler, and delta (as B&S) modeled it was dP/dS
Most rich people are lucky one-hit wonders. We should only study serial entrepreneurs like Brad Jacobs, who beat the odds repeatedly. His book's a game-changer, loaded with insights. I loved it and can't recommend it enough. amzn.to/3TQrbyH
When it comes to tail risk hedging, there’s a reason most programs tend to underdeliver, it’s often rooted in how they’re conceived.
Managers typically look back at prior tail events and attempt to reverse-engineer the optimal hedge for those specific scenarios. Someone will…
I highly recommend the new book Masters of Uncertainty by Rich Diviney. Diviney was the officer in charge of training for the Navy’s elite SEAL Team Six unit, and in that capacity had a unique perspective into the evaluation (as detailed in his previous book, The Attributes) and…
How to STUDY Mathematics:
• Practice, Practice & More Practice.
• Review Errors.
• Master the Key Concepts.
• Understand your Doubts.
• Create a Distraction Free Study Environment.
• Create a Mathematical Dictionary.
• Apply Math to Real World Problems.
Started our firm (wife and I) about 12 years ago. Had about a total of $12 mill in AUM. As of today, we mage just about $850 million and have 19 employees. Two things you MUST learn to be successful:
1) Don’t listen to teachers. If their “proprietary method” worked then why in…
If anyone knows an investment firm (hedge fund or others) that’s looking to hire an experienced hedge fund PM/MD in London, Middle East or Switzerland pls DM me. I’m 15 years in, long/short equity and event-driven/special situations.
Reposts appreciated as well, thank you.
To be a good trader, one must approach questions without any bias, be willing to change one's view as new information emerges, and be skeptical of everything heard until independently confirmed. Imagine if every voter had those traits.
One big difference I've seen between finance & politics is that a trader's career will be very short if you aren't willing to change your mind and admit to being wrong, while a politician's career will be very short if you are willing to change your mind and admit to being wrong.
Monetizing Long Vol
August was a standout month for Ambrus, primarily due to our ability to monetize a small but sharp volatility spike—without sacrificing too much of our convexity profile in case volatility fully materialized.
A question we often get is: “How do you monetize…
This man who heals what doctors can't:
Jiddu Krishnamurti.
It's impossible to be psychologically trapped, stressed, or anxious after understanding his teachings.
Here's his 5-step approach to unlocking mental freedom: 🧵
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