TTU43: The Case For Currencies As An Asset Class ft. Mark Whitmore of Whitmore Capital Management – 1of2
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 10 November 2014
⏱️ 83 minutes
🧾️ Download transcript
Summary
Our next guest started his firm back in 2012, and we’re talking to him at a special moment in the company’s evolution as it starts to gain outside capital and make its mark in the industry. Listen in to gain insights into how a manager started his firm in the current environment, the inside view on currencies as an asset class, and much more.
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In This Episode, You’ll Learn:
- How Mark was interested in finance from a very early age and learned from his adoptive parents.
- About his time studying macroeconomics in college.
- The story of his career and how it took a windy series of turns before heading into the financial market.
- His time studying currencies when he was in law school and his time as lawyer.
- How he started getting into the financial markets by investing in stocks in the late 90s.
- How he quit his job as a lawyer and planned to go into the financial services sector.
- His ventures into the currency markets and why he considered them in the first place.
- How he started by managing his own money.
- What he sees in currencies as an asset class and how he describes that to investors.
- How the currency market has changed throughout the years.
- How he decided to launch his business in 2012 and how he got organized to take outside capital.
- How he built the organization and his business.
- What kind of organization he would like to grow into in the future.
- Why culture in a small company is a very important issue.
- How he looks at track record, being such a young company.
- How he created the models he uses for his strategy.
- The example of the Euro and what Mark predicts for the currency in 5 years.
- His thoughts on the Swiss Franc and the historical context of its value.
- The Singapore Dollar and how it is likened to the Swiss Franc.
- How many currencies he trades.
- How he thinks about diversification.
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Resources & Links Mentioned in this Episode:
- Mark mentions the book A Random Walk Down Wall Street in this episode.
- Mark has authored many white papers on currencies, including:
- Currency Investing: An Alpha-Rich Environment
- How to Invest When Both Stocks and Bonds are Overpriced
- The Case for Currencies as an Asset Class Becomes Stronger
Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
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Transcript
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| 0:00.0 | Through high school and college, I was a fairly serious rock drummer of all things. |
| 0:09.0 | And what makes that fact a little more fun is the fact that one of my casual friends from high school |
| 0:16.0 | ended up becoming the drummer for Pearl Jam, a rather small group here in the Northwest you may have heard of. |
| 0:21.9 | Occasionally, if the stresses and strains of dealing with massive volatility in the currency market hits me, |
| 0:26.5 | I can always pull out my drum set and bang away for an hour or two. |
| 0:29.7 | And that actually relieves stress to some degree. |
| 0:33.7 | It's not always we get a chance to experience the entrepreneurial journey firsthand. |
| 0:40.3 | Most people don't. |
| 0:42.0 | What drives it? |
| 0:43.4 | What motivates someone to quit their job and the security of a monthly paycheck |
| 0:49.1 | and venture out in pursuit of mastering a craft? |
| 0:56.8 | Well, that's what we're talking about in today's episode of Top Traders Unplugged. Imagine spending an hour with the world's greatest traders. |
| 1:04.1 | Imagine learning from their experiences, their successes, their failures. Imagine no more. |
| 1:10.4 | Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world so you can take your manager due diligence or investment career to the next level. Here's your host, veteran hedge fund manager, Niels Kostrup Larson. Neil's Kastro Blarsen. |
| 1:41.0 | Welcome to Top Traders on Plot, where my goal is to give you the clarity, confidence, and courage. |
| 1:46.7 | You need to invest like or invest with one of the top traders in the world. |
| 1:54.4 | It is the stories that you never get to hear, set out as the most honest and transparent account I can make of what goes on inside the minds of some of the best investors in the world delivered to you via |
| 2:03.3 | one-on-one conversations. Today you're listening to episode 43. If this is the first episode you've |
| 2:11.5 | heard, you might want to go back and listen to all the earlier conversations. On today's show, I'm talking to Mark Whitmore. |
| 2:19.3 | But instead of me doing the introduction, why don't we let him do it? |
| 2:24.3 | I guess I tell people that I'm a portfolio problem solver, and after people get a glassy look in their eye, |
| 2:30.3 | I basically say that I invest in money, which is in and of itself |
... |
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