How the Rise of 'Pod Shops' Is Reshaping the Way Markets Trade
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 26 February 2024
⏱️ 54 minutes
🧾️ Download transcript
Summary
The hedge fund industry has gone through multiple evolutions. Investing styles go in and out of fashion as market conditions change. Strategies that work become crowded with investors, which can mean they stop working as well. The hottest thing these days are so-called multi-strategy funds or "pod shops" that employ multiple distinct teams, each with a specific mandate, style and edge. In theory, with good risk management and internal capital allocation, this can produce robust results across many cycles. So how do these funds work, how are they making money, and what does the expansive growth of this new style of fund mean for markets? In this episode, we speak with Krishna Kumar, a portfolio manager at Goose Hollow Capital Management, about the rise of multi-strategy hedge funds, why they're so popular, and how the increasing amount of money deployed by these firms is changing the way that markets trade.
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Transcript
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| 0:53.0 | Podcasts, Radio News. Hello and I'm Tracy Allaway. Tracy, have you noticed there were some crazy moves in the market lately? |
| 1:15.6 | I know, it's kind of funny. If you look at, I guess, traditional measures of overall volatility in the market, so obviously things like the Vicks it was |
| 1:25.2 | relatively low up until recently and that was despite all these big surges in a bunch of |
| 1:31.6 | stocks so the mega cap tech companies kind of stand out there. |
| 1:35.7 | So I guess overall benchmark moves were kind of low, |
| 1:40.1 | but if you look within that, |
| 1:41.8 | if you look at specific single stock performance |
| 1:44.8 | things like dispersion it's been kind of crazy sort of under the surface there's been a lot |
| 1:49.7 | going on we are recording this February 15th 2024 shares of on at 951 up $69 a share on the day on January 18th they were at 311 so it's a |
| 2:07.8 | triple in a month do is arm holdings recently which is like now in 150 billion. |
| 2:14.4 | I mean, these are like serious high market cap companies. |
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