Today's episode features an in-depth discussion with discretionary global macro trader Asim Ghaffar, founder and CIO of AG Capital. Ghaffar shares his insights on the recent market volatility, including his views on the potential triggers behind the sell-off and the chances we have for a recession. Was it just a blip on the radar, algos deleveraging? He explains his discretionary macro trading approach, highlighting the importance of risk management, position sizing, and the psychological challenges of the business. Ghaffar also discusses the differences between his strategy and systematic trend following, as well as the unique opportunities smaller managers can pursue compared to large global macro funds. In this chat we also explore Ghaffar's personal journey into the industry, the challenges of starting a hedge fund, and his long-term outlook on markets, including his perspective on the role of gold in a portfolio.

Chapters:

00:00-02:01=Intro
02:02-11:14= What triggered the Sell-off? The Yen Carry
trade? Or just algos gone wild…
11:15-22:35= The secret sauce to a long-term approach, algo moves and the mental games of trading 
22:36-31:55= Discretionary vs Global Macro & the
unsolvable puzzle or crack under the pressure
31:56-43:00= Psychology & Philosophy? The real head
games of trading & sparks to start a hedge fund
43:01-49:50= The potential of a recession, who wants it? Fed rate cuts, the wealth effect, & investment vs trend
49:51-01:06:19= What’s beyond the horizon, staying out of the noise and focus on the fed
01:06:20-01:14:22= Commodity prices for discretionary
trading & what’s with gold? Getting perspective…

From the episode:
<a href="https://www.rcmalternatives.com/2021/01/wisdom-from-the-wizard-maker-with-jack-schwager-the-derivative/⁠" target="_blank" rel="noopener noreferer">Derivative episode: Wisdom from the wizard maker  with
Jack Schwager </a>
 
Follow along with Asim on <a href="https://www.linkedin.com/in/asim-ghaffar-0b6732/⁠ " target="_blank" rel="noopener noreferer">LinkedIn</a> and <a href="https://www.linkedin.com/company/ag-capinv/⁠" target="_blank" rel="noopener noreferer">AG Capital's LinkedIn</a>. For more information on AG Capital visit <a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__agcapital.fund_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=9-DnTtMcw478rkA4lEYbeuKyoLoUSbwY5fEJBlY2KcQ&m=ww-GvUjvdi1gLWsp3SPUHlOPAaHRQzuy_DslROSEkYtTK7tD5JZgPZiKeqv9A3o3&s=Yi2CJIO4TsYBmVDUl5kSrmSC_T1eLo9btlnKsBlr934&e=" target="_blank" rel="noopener noreferer">agcapital.fund</a>

Don't forget to subscribe to <a href="https://www.rcmalternatives.com/the-derivative-podcast/">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a>, follow us on Twitter at <a href="https://twitter.com/rcmAlts">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a> and our host Jeff at <a href="https://twitter.com/AttainCap2">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@AttainCap2⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a>, or <a href="https://www.linkedin.com/company/rcm-asset-management/">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a> , and <a href="https://www.facebook.com/RCMAlternatives/">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a>, and <a href="https://info.rcmalternatives.com/get-our-blog-alternatives">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠sign-up for our blog digest⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a>.
Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit <a href="http://www.rcmalternatives.com/disclaimer">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.rcmalternatives.com/disclaimer⁠</a>

Podurama

Home

Trending

Personal

Your Podcasts

New Episodes

My Files

Favourite Episodes

Tags (Folders)

Recently Played

Bookmarks

Followed Playlists

Unpacking the Sell-Off! Awesome Insights from discretionary macro trader Asim Ghaffar

The Derivative

AI Chapters

AI Insights

Reviews