Peter Tchir started his career at Bankers Trust and later at Deutsche Bank, running high-yield derivatives. He has traded all manner of fixed-income products, both on the sell side as a market maker and as a portfolio manager at a fixed-income hedge fund. During the financial crisis he ran the U.S. CDS-index business (made famous by The Big Short) for RBS.
Peter received B.S. in mathematics and computer sciences from the University of Waterloo and an MBA with distinction from Vanderbilt University, where he also won the Matt Wiggington Leadership Award for outstanding performance in finance.
I think we can demonstrate this painful process with one quick chart.
Markets are at risk of ongoing balance sheet and risk reduction, where both stocks and bonds do poorly.
The president's efforts to damp negative impeachment headlines could involve Iran and/or trade.
it seems that consensus is to interpret anything that can be viewed as bad, as actually bad, and anything that could be good, as an aberration that will soon become bad.
I would add, but not aggressively, to energy holdings, following the developments in the Middle East and signs that the potential for the global economy is not as bad off as previously believed.
I am increasingly concerned about the amount of money flowing into these funds, largely because these flows represent 'weak hands.'
Bonds got ahead of themselves and there were number of factors at work.
I start this week in risk-off mode and want to sell every rally in risk.
Despite getting hit with allegations last week, General Electric still has name, history and size.
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