The Second Leg Down: Strategies for Profiting After a Market Sell-Off | Hari Krishnan

Hidden Forces

Demetri Kofinas

Business, Government

4.8 • 1.6K Ratings

🗓️ 5 April 2020

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Episode 131 of Hidden Forces, Demetri Kofinas speaks with Hari Krishnan, a portfolio manager at Doherty Advisors responsible for the VXR (VIX replication strategy) and hedging solutions business. The two discuss Hari's thesis around risk management, portfolio construction and positioning once a market downturn is already underway. Although the content discussed in this episode is considered "sophisticated," we try and make it accessible to the average listener. Topics include the investor mindset, protecting against systemic risk, options pricing, the role of credit in the market cycle, endogenous vs. exogenous risk, agent-based modeling, exchange traded products, volatility, and trend following strategies.

The overtime includes more detailed examples of tactics and strategies that can be deployed in service of risk mitigation and profit making during the type of market-downturn that we are now experiencing.

You can access that overtime, along with the rundown and transcript to this week's episode through the Hidden Forces Patreon Page. All subscribers also gain access to our overtime feed, which can be easily added to your favorite podcast application.

Transcript

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0:00.0	Today's episode of Hidden Forces is made possible by listeners like you.
0:04.4	For more information about this week's episode or for easy access to related programming
0:09.7	visit our website at hidden Forces. I.O. and subscribe to our free email list.
0:16.4	If you listen to the show on your Apple Podcast app, remember, you can give us a review.
0:21.5	Each review helps more people find the show and join our
0:24.9	amazing community. And with that, please enjoy this week's episode. And the What's up everybody? My guest on this episode of Hidden Forces is Hari Krishnan, a portfolio manager at Doherty
0:56.0	Advisors in New York, responsible for the VXR VIX replication strategy and hedging solution business.
1:03.6	He was formerly a fund manager at cross-border capital in London with an emphasis on volatility
1:09.7	and systematic currency strategies and was an executive director at Morgan Stanley from 2001 to
1:16.4	2007 specializing in asset allocation across hedge funds, private equity, and traditional asset classes.
1:24.8	He holds a PhD in Applied Math from Brown University, was a research scientist at the Columbia
1:30.7	University Earth Institute, and is the author of a book on regime-based hedging
1:36.4	published by Wiley in 2017.
1:39.6	Hari, welcome to Hidden Forces. I'm delighted to be on.
1:44.0	Thank you, Dimitri.
1:45.0	This was a long time in the making, Harry.
1:48.0	Including the last mile here with our technical issues.
1:52.0	You know, I have been doing this show for three years and I pretty much stopped doing remote
1:58.6	Recordings after the first six months or a year or so because they were full of technical problems constantly and even
2:05.8	when we booked a studio, a professional studio, we had issues.
2:11.0	So it's like there's no way around it, you know what I mean? And now with this quarantine, you are now the fourth guest that I've had to try and work out solutions with. And it's a, you know, it's a different thing. I was speaking with Eric Townsend of
2:23.2	macro voices recently and he's been on my ass for months telling me I'm
	...

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