In this episode of The Blunt Dollar, I sit down with Orlando Gemes, Founding Partner and CIO of Farrier Asset Management, a credit hedge fund focused on uncovering repeatable alpha through a highly data-driven approach to convertible arbitrage. Orlando’s background spans from fixed income at Deutsche Bank to leading structured credit at Hermes and running his own shop at Fairwater Capital. Now, he’s building something truly unique with Farrier.

We talk about what makes convertibles so compelling, how he’s assembling a PhD-led team from scratch, and what it really takes to launch an emerging hedge fund without the usual pedigree or seed backers.

🔍 Why convertibles are one of the best risk-adjusted opportunities out there

🧠 How Orlando leverages STEM talent and custom-built data infrastructure to find edge

📉 The brutal realities of liquidity risk in credit markets

🏗️ What it’s like to build a hedge fund from scratch, with no shortcuts or safety nets

📚 Orlando’s advice to young professionals: read everything, get mentors, stay curious

If you’re into credit markets, data-driven investing, or just want an honest look at what it takes to go from idea to fund launch, this one's for you.

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Enjoy the episode!

Disclaimer: This podcast is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Listeners should consult a qualified financial professional before making any financial decisions.

Why 80% of Hedge Funds Fail - Orlando Gemes