Finding Truth and Profits in a Volatile World

Featuring Paul Britton

It’s been a turbulent, exhilarating and highly rewarding road for Paul Britton, who currently manages $6 billion as founder of Capstone Investment Advisors. In this interview, Dean Curnutt, CEO of Macro Risk Advisors, sits down with Paul to embark upon a fascinating journey through the world of options that ranges from surviving in the pits of Amsterdam to praying in New York’s historic Trinity Church during the crisis of 2008/2009. The two veteran investors also discuss the challenges of trading the VIX, the future of bitcoin and Trump’s true impact on the economy. Filmed on August 23, 2018 in New York.

Published on
31 August, 2018
Topic
Volatility, Investment Framework, Financial System
Duration
66 minutes
Asset class
Options
Rating
47

Comments

  • IO

    Igor O.

    4 9 2018 13:20

    0       0

    I'd sell volatility in bitcoin through options.

  • YB

    Yuriy B.

    4 9 2018 00:28

    0       0

    The "what I got wrong" portion of this alone is highly valuable. Great job Real Vision!

  • MB

    Matthias B.

    3 9 2018 10:13

    3       0

    I truly liked Dean Curnutt as interviewer as he was well prepared, calm but still lead the interview well - pls bring him back. I liked the content as well although it sometimes just scratched the surface thus could have gone deeper. I do concur with others commenting here that this interview together with the one with Nancy Davies lays a good base to build upon.

  • AM

    Artur M.

    2 9 2018 21:50

    0       0

    I really enjoyed that interview! Geat Job!

  • VS

    Victor S.

    2 9 2018 19:23

    0       0

    Very well done- a consummate professional.

  • MS

    Mark S.

    2 9 2018 12:37

    6       0

    Here's another interview on options, where the trader did not give me any education on how they manage their greeks or a trade. Any option trader knows that options are complex and misleading. One can learn something very basic about options and THINK they understand options. They can then be exposed to something a little deeper and THINK they understand options. Options like an onion can go deeper and deeper and deeper layer after layer. I feel like none of the onion was exposed nor any detail about the market, where is Dean is seeing tail risk, or mispriced options or when long vol, how does he pay for the vega or whatever. Not a great education here.

  • NE

    Neil E.

    1 9 2018 15:39

    2       2

    It’s funny how at the beginning he called it the great financial crisis, just like people used to call WWI the Great War.

  • AP

    Armin P.

    1 9 2018 12:45

    2       0

    Amazing guy

  • SS

    Sam S.

    31 8 2018 20:38

    10       0

    Totally professional by both Mr. Britton & Mr. Curnutt. Really enjoyed this piece and ask for more from both of them. Well done!

  • PA

    Pascal A.

    31 8 2018 17:22

    9       0

    "I don't want to go too much into technical details....". Please do! It's oftentimes hard to get some expert opinion and having enough detailed information to know exactly what they are talking about. I really enjoyed that interview! Just great stuff.

  • TH

    Truman H.

    31 8 2018 16:17

    21       0

    Britton reminds me of the old quote from Peanuts, Linus: "Until it is demonstrated, one forgets the very great difference between the merely competent amateur and the very expert professional." Anyone trading in front of a glowing screen at home might benefit by realizing that they're competing directly with intellects of this magnitude. A great lesson in humility, & a really useful interview. Bravo, Real Vision!

  • MM

    Mike M.

    31 8 2018 15:18

    3       8

    Really amazing conversation when there is no mention of the 800 lb gorilla everyone is trading against aka Federal Reserve/Central banks? Maybe, we are closer to the end game?
    Can we get someone to interview Bernie Madoof to learn what his take on all of this is?

  • V!

    Volatimothy !.

    31 8 2018 13:17

    2       0

    I feel like this interview was done just for me. Thanks RV, very relevant!

  • Nv

    Nick v.

    31 8 2018 13:01

    10       0

    Very interesting. Thank you
    Capstone website has a good white paper on volatility strategies