From Treasury Minister of Argentina to Macro Hedge Fund Manager | Nicolás Dujovne of Tenac Asset Management

This episode is brought to you by Fintool. Learn more about how you can add AI to your investment process with Fintool: https://fintool.com/?utm_source=the_opm

Nicolás Dujovne, CIO and founder of Tenac Asset Management, joins Other People’s Money to discuss his path from Treasury Minister of Argentina and president of the G-20 to hedge fund manager. Despite more experience managing economies than trading them, Dujovne and his partners at Tenac have succeeded in building a 5+ year track record with no down years and an annualized rate of 17.18% net of fees, focusing mostly on sovereign and corporate debt of emerging market countries. In the interview we discuss how global macro feeds portfolio construction, the important factors when analyzing individual emerging markets, and how understanding large international organizations like the IMF is crucial to predicting outcomes in EM.

This episode is brought to you by Fintool, a financial copilot tailored for institutional investors. Fintool leverages Large Language Models (LLMs) to discover financial insights beyond the reach of timely human analysis. From summarizing extensive annual reports to computing numbers and unearthing new insights by comparing years of filings, Fintool equips institutional investors like Janus Henderson, First Manhattan and companies like PWC. Learn more about how you can add AI to your investment process: https://fintool.com/?utm_source=the_opm

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Timestamps:

00:00 Intro

00:29 Fintool Front Roll

02:00 Why is LATAM a Macro Hotbed?

04:11 From Minister of the Treasury to Macro Trader

11:36 Capital Raising in LATAM

16:31 Developing & Communicating Your Investment Process

20:53 Fintool Mid Roll

22:01 The Growth of EM Debt Markets

25:56 Dispersion and Portfolio Management

30:50 Corporate/Quasi Sovereign Debt

34:30 The Events That Move Markets in EM

38:22 Data Integrity Issues in EM

39:28 Vol and Investor Expectations

43:14 Global Spotlight on Argentina

44:57 Unique Requirements of Global Investing

48:16 The Roll of the IMF

54:27 Elections and Prediction Markets

56:58 The Roll of US Financial Conditions

01:01:45 Current Outlook for US Trade Policy

01:03:17 Opportunity Right Now

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