Episode 1 July 6, 2017 The RMB: An Insanely Convex Trade An interview with Brian McCarthy of Emerging Sovereign Group Brian McCarthy manages the ESG Nexus Fund, a China-focused macro fund, and has travelled extensively throughout China conducting research into Chinese asset markets, capital flow channels, and credit creation processes. He joined Emerging Sovereign Group from RBS, where he served as Senior Vice President in Foreign Exchange Sales, from 2006-2010, having held similar roles at both UBS (2001-2006) and Barclays (1998-2001), McCarthy has extensive asset management experience. He served as International Fixed Income Strategist at Alliance Capital from 1991-1994, and as an International Fixed Income Portfolio Manager at AIG from 1994-1998. McCarthy has 26 years of investment experience and received a BA degree in economics from Harvard College with honors in 1988. In this conversation, he talks about the opportunities and perils of the short-RMB trade. Episode 2 July 20, 2017 The Everything Bubble John Fichthorn and John Barton of BR Dialectic on shorting this market John Fichthorn is the founder of Dialectic Capital Management, a short-biased fund, and now Head of Alternatives at B Riley Capital Management, a California-based investment advisor. John Barton is his long time colleague and a Managing Director at B Riley. Together, the two have decades of experience in identifying and investing in shorts. Here, they talk about their strategy, successes, and frustrations. Episode 3 July 29, 2017 Not So Big Food Evan Lorenz of Grant's Interest Rate Observer on Kraft Heinz and Other Edibles Evan Lorenz is deputy editor of Grant’s Interest Rate Observer, a twice-monthly journal of the financial markets. Evan, a CFA, has researched both individual securities and macroeconomic themes for Grant’s since 2010. Prior to joining Grant’s, Evan worked as an analyst at Sheffield Asset Management, a concentrated long/short value fund. From 2007 through 2010, Evan ran the short book at Sheffield. Evan graduated from the University of Chicago in 2004 with a BA in anthropology. Supplementary materials: Grant's March 24, 2017: Price War for Warren Buffett
Episode 4 August 8, 2017 Snap-on Your Parachute J Capital analyst and co-founder Tim Murray talks about Snap-on (SNA US) and why its debt-fueled earnings will start to show deterioration in Q3 this year.