01:13:15

EssentialMike Green in Conversation

The Real Titans of Finance: Demystifying the World of Prop Traders and Market Makers

Featuring Noel Smith and Michael Green

Jun 14, 2021 • 73 minutes

208

11

Essential

Mike Green in Conversation

The Real Titans of Finance: Demystifying the World of Prop Traders and Market Makers

Noel Smith and Mike Green examine the real titans of finance proprietary traders and market makers.

Featuring Noel Smith and Michael Green

Jun 14, 2021 • 73 minutes

To people outside of the asset management world, the most successful hedge funds and their strategies seem like the pinnacle of public market investing with high teens returns or slightly better being the target that many aspire to. Noel Smith, CIO of Convex Asset Management, looks at an entirely separate group as the real titans of finance—proprietary traders and market makers. In this interview with Mike Green, Smith argues that most investors would be stunned at the returns that are generated by these firms and how, having been a market maker and prop trader himself, he has seen firsthand what he believes are superior strategies that put most hedge funds to shame. They also discuss the evolution of market making and how that has affected market structure, why the intellectual capital and reinvestment in that world is what really sets these proprietary trading firms apart, and how he is blending the two worlds and bringing these prop trading strategies to outside investors at his fund. Filmed on June 8, 2021. Show More

A Real Vision original, Mike Green engages in exciting conversations about the big macro topics that matter. Exploring personal passions -- including the US-China relationship that defines modern geopolitics as well as market structure and the question of how short-volume strategies and passive indexation have warped the way markets function -- Mike creates immeasurable value for investors. Never stuck on any one or two themes, he also explores breaking issues sure to shape our understanding of ever-changing financial markets.

More Episodes

A Real Vision original, Mike Green engages in exciting conversations about the big macro topics that matter. Exploring personal passions -- including the US-China relationship that defines modern geopolitics as well as market structure and the question of how short-volume strategies and passive indexation have warped the way markets function -- Mike creates immeasurable value for investors. Never stuck on any one or two themes, he also explores breaking issues sure to shape our understanding of ever-changing financial markets.

More Episodes

COMMENTS

Sort By
  • Newest First
  • Oldest First
  • Top Rated
  • Most Discussed
  • Most Controversial

Access Essential Content

This content is reserved for the thousands of visionaries supporting the financial revolution. We'd love for you to join us. Interested?

See Our Plans

Already have an account? Log In