Macro Hive Conversations With Bilal Hafeez

Ep. 249: Mark Rzepczynski on Wicked Markets and Understanding Risk

Jan 3, 2025

Mark Rzepczynski, Managing Member and CEO of AMPHI Research and Trading, shares his 40 years of finance expertise, discussing the crucial balance between systematic and discretionary trading. He delves into the complexities of risk versus uncertainty and the challenges posed by financial models in turbulent markets. Highlighting risk premium strategies, he explores the importance of adapting to changing conditions. Rzepczynski also reflects on influential literature that enhances decision-making, stressing the value of intuition over conventional approaches.

43:15

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Mark Rzepczynski

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Episode notes

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Quick takeaways

Mark Rzepczynski emphasizes the importance of blending quantitative methods with an understanding of market uncertainties for successful investing.

He highlights the need for continuous learning and flexibility in decision-making to navigate the complexities of financial markets effectively.

Deep dives

Career Path in Finance

Mark Brzezinski shares his journey into finance, which began with a visit to the Chicago Board of Trade during college. The chaotic atmosphere of trading piqued his interest, leading him to work in various roles in the finance sector, including positions at Merrill Lynch and Fidelity. He highlights the importance of seeking experiences that resonate with one’s interests and dispositions, noting that his path was influenced by a desire to be closer to the action in trading. His evolution from academia to practical finance illustrates the need for professionals to adapt their career routes based on their experiences and passions.

Intro

2min

Journey Through Finance: From College to Consulting

3min

Navigating Chaos: The Balance Between Quantitative and Discretionary Investing

3min

Exploring Risk Premium Strategies in Financial Markets

2min

Navigating Financial Models and Market Complexity

27min

Influential Books and Decision-Making Insights

6min

Mark Rzepczynski is the managing member and CEO of AMPHI Research and Trading, a consulting firm to institutional investors and hedge funds on derivatives markets across all asset classes. His 40 years of experience includes CEO Funds Group of FourWinds Capital Management, president, CIO of John W. Henry Inc, and head of taxable fixed income research at Fidelity Management and Research. He was assistant professor of finance at the University of Houston and is an associate editor of the Journal of Alternative Investments. In this podcast we discuss systematic vs discretionary trading, risk vs uncertainty, challenges of trading models, and much more.

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