Strong Source Episode 9 with Willem Zimmerman
May 15, 2024
Willem Zimmerman, VP of Global Cocoa Trading at Barry Callebaut Group, shares his fascinating journey from coffee in the Ivory Coast to cocoa trading. He discusses the complexities of the cocoa supply chain, highlighting challenges like climate impacts and underinvestment. Willem contrasts physical trading with hedge fund strategies and emphasizes the importance of mentorship and consistency in trading. He also explores innovative solutions for increasing cocoa supply and offers insightful advice for newcomers to the commodities sector.
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Episode notes
Thrown Into Origin Learning
- Willem started in commodities after a failed Cargill traineeship and accepted a junior trader role that sent him straight to Ivory Coast.
- He learned the business by living on the ground and returned after four weeks saying he 'understood'.
Processing Multiplies Trading Complexity
- Physical trading offers richer complexity because processing creates multiple products with separate dynamics.
- That added complexity expands trading opportunities beyond one-dimensional futures play.
Match People To Desk Profiles
- Hire different profiles for derivatives and physical desks because skills and temperaments differ.
- Seek people who handle ambiguity, own positions, and tolerate stress in commodity markets.