The Derivative
Long/Short Commodities with Emil van Essen & Bryan Kiernan of Katonah/EVE
Sep 14, 2023
Emil van Essen and Bryan Kiernan of Katonah/EVE discuss the evolution of their strategies and firm, including front-running commodity index rolls and mastering roll yields. They explore topics like spread trading, diversification in commodity markets, and the importance of testing ideas with live ammunition. They also touch on the energy patch, the crypto space, and China's role in the market.
50:34
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Quick takeaways
- The Long/Short Commodity Program developed by Brian Kiernan and Emil van Essen focuses on using term structure to predict market moves, providing a valuable addition to a portfolio.
- Brian Kiernan and Emil van Essen see the cryptocurrency market as a source of alpha and aim to achieve high Sharpe ratios and meet institutional standards by combining short-term directional trades with market-neutral strategies.
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Overview of the episode
In this episode, Brian Kiernan and Emil van Essen of Katona Eve discuss their journey from spread broker to spread trader to spread hedge fund. They delve into their long short commodity program and its unique approach of using term structure to identify market moves. They also touch on topics such as energy, crypto, and China. They highlight the need for alternative investment strategies and their potential for providing alpha in the market.
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