Today’s guest is Rob Citrone, founder of Discovery Capital Management, a hedge fund that invests opportunistically across asset classes in emerging and developed markets. Rob worked for Julian Robertson at Tiger Management in the mid 1990’s and managed money for the Soros family. He’s also a minority owner of the Pittsburgh Steelers.
In today’s episode, Rob explains why he expects the investment regime to shift, with higher volatility and lower returns in the next decade. He highlights the potential for Latin America to outperform Asia in the coming years and why he sees a huge opportunity in Argentina. He also discusses his investments in cryptocurrencies, why he’s bearish on China and Europe, and the skill and discipline needed to be a short seller.
(2:09) Rob's 25th anniversary at Discovery Capital Management
(4:01) Lessons from Julian Robertson and George Soros
(7:42) The opportunity in Argentina
(18:07) Geopolitics
(25:38) Outlooks for China, India, US and Europe
(29:12) The art of short selling
(36:54) Fiscal policy concerns
(39:18) Bitcoin
(42:08) Contrarian investment beliefs
(43:30) Rob's most memorable investment
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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
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