Jason C. Buck, Portfolio Manager of the Mutiny Fund, dives into the intriguing world of volatility and tail risk strategies. He highlights innovative ways to balance offensive and defensive assets to shield portfolios from downturns. The conversation extends to MicroStrategy's bold Bitcoin moves and the implications of institutional players in the crypto space. Buck also discusses the hurdles value stocks face amidst market turbulence, encouraging a strong focus on fundamental analysis. Lastly, he champions the rise of young entrepreneurs venturing into defense technology, paving the way for exciting advancements.
01:00:59
forum Ask episode
web_stories AI Snips
view_agenda Chapters
menu_book Books
auto_awesome Transcript
info_circle Episode notes
insights INSIGHT
Offensive vs. Defensive Diversification
Diversification is often misunderstood as solely offensive assets.
True diversification requires pairing offensive and defensive strategies, like long volatility or tail risk, to reduce portfolio volatility.
insights INSIGHT
Market Conditions and Strategy Performance
Long volatility and tail risk strategies thrive in sharp market crashes but struggle in slow downturns.
Commodity trend following performs well during protracted recessions or inflationary environments, complementing long volatility.
insights INSIGHT
Long Volatility Headwinds
Long volatility and tail risk strategies have faced headwinds for five years.
Market stability can breed instability, creating conditions for future volatility spikes.
Get the Snipd Podcast app to discover more snips from this episode
In this book, Cal Newport draws on the habits and mindsets of historical figures like Galileo, Isaac Newton, Jane Austen, and Georgia O’Keefe to propose a new approach to productivity. He argues against the modern culture of 'pseudo-productivity,' where busyness is mistaken for actual productivity. Instead, Newport advocates for 'slow productivity,' which involves doing fewer things, working at a natural pace, and obsessing over quality. The book combines cultural criticism with practical advice to help readers transform their work habits and achieve more sustainable and meaningful accomplishments.
Zen and the Art of Motorcycle Maintenance
Robert Pirsig
This classic novel by Robert M. Pirsig is a personal and philosophical odyssey that delves into the author's search for meaning. The narrative follows a father and his son on a summer motorcycle trip from the Midwest to California, intertwining a travelogue with deep philosophical discussions. The book explores the concept of 'quality' and how it informs a well-lived life, reconciling science, religion, and humanism. It also touches on the author's own struggles with his past and his philosophical quest, making it a touching and transcendent exploration of human experience and endeavor.
Bullshit Jobs
A Theory
David Graeber
In 'Bullshit Jobs: A Theory', David Graeber argues that a significant portion of jobs in modern society are meaningless and contribute little to no value. He categorizes these jobs into five types: flunkies, goons, duct tapers, box tickers, and taskmasters. Graeber contends that these jobs are not only inefficient but also psychologically destructive, leading to chronic misery and social divisions. The book is based on his 2013 essay 'On the Phenomenon of Bullshit Jobs' and includes testimonials from workers who feel their jobs are pointless. Graeber suggests solutions such as unions and universal basic income to address the issue of meaningless work.
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. See our latest episodes at https://acquirersmultiple.com/podcast
We are live every Tuesday at 1.30pm E / 10.30am P.
About Jake
Jake's Twitter: https://twitter.com/farnamjake1
Jake's book: The Rebel Allocator https://amzn.to/2sgip3l
ABOUT THE PODCAST
Hi, I'm Tobias Carlisle. I launched The Acquirers Podcast to discuss the process of finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations.
We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success.
SEE LATEST EPISODES
https://acquirersmultiple.com/podcast/
SEE OUR FREE DEEP VALUE STOCK SCREENER
https://acquirersmultiple.com/screener/
FOLLOW TOBIAS
Website: https://acquirersmultiple.com/
Firm: https://acquirersfunds.com/
Twitter: https://twitter.com/Greenbackd
LinkedIn: https://www.linkedin.com/in/tobycarlisle
Facebook: https://www.facebook.com/tobiascarlisle
Instagram: https://www.instagram.com/tobias_carlisle
ABOUT TOBIAS CARLISLE
Tobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®.
He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law.
Prior to founding the forerunner to Acquirers Funds in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer. As a lawyer specializing in mergers and acquisitions he has advised on transactions across a variety of industries in the United States, the United Kingdom, China, Australia, Singapore, Bermuda, Papua New Guinea, New Zealand, and Guam.
He is a graduate of the University of Queensland in Australia with degrees in Law (2001) and Business (Management) (1999).
The Acquirers Podcast 
