May 27, 2021
Benn Eifert is the managing member and CIO of QVR Advisors, a quantitatively-driven, options-and volatility-focused investment manager. QVR helps institutional investors navigate the highly complex derivatives market. Listen in as Benn talks to Richard about the Genesis of QVR, the evolution of the Derivatives Markets as well as how his firm adds value to clients. Benn also delves into his background, the GameStop Gamma Squeeze, Retail Activity in the Options Market and much more.
To learn more about Benn please visit www.qvradvisors.com or follow him on Twitter @bennpeifert.
To learn more about Richard please visit www.thinkaen.com.
Show Notes:
(01:14) About Benn and QVR
(03:42) Time spent at Wells Fargo, Prop Desk
(04:32) The Derivatives and the time of the Wild West, Benn explaining Derivatives versus other instruments
(09:51) The shift from Over the Counter (OTC) Derivatives to Listed Derivatives
(12:09) Equity Options and Retail Trading
(13:03) Regulators and other Watch Dogs
(15:32) Delving into QVR, Process Driven Advisor, U.S Allocation, Different Asset Classes
(18:29) Recurring Thematic Dislocations
(22:31) AMC and GameStop, Roaring Kitty
(27:35) Gamma Squeeze
(28:32) Implied Volatility and how it impacts the markets
(30:35) Melvin Capital and what exactly happened
(33:32) AQR and its hunt for dislocations
(34:35) What led Benn to start a fund, setting up his Team
(37:12) Talking about his Popular "Junior Analyst" Interview Questions
(39:05) It all comes down to Supply and Demand
(42:57) Learning from mistakes, unwinding trades
(43:24) Cycling in San Francisco and the Cycling Jersey
(44:00) Peleton, Family Life and Closing Remarks