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Artwork for Alpha Exchange

Alpha Exchange

Dean Curnutt
Risk Management
Volatility
VIX
S&P 500
Inflation
Bitcoin
Options Trading
Gold
Monetary Policy
Central Banks
Derivatives
Artificial Intelligence
Investment Strategies
Financial Markets
Market Volatility
Financial Crisis
Federal Reserve
Exchange-Traded Funds
Equity Derivatives
Market Risk

The Alpha Exchange is a podcast series launched by Dean Curnutt to explore topics in financial markets, risk management and capital allocation in the alternatives industry. Our in depth discussions with highly established industry professionals seek to uncover the nuanced and complex interactions between economic, monetary, financial, regulatory and geopolitical sources of risk. We aim to learn fr... more

PublishesWeeklyEpisodes274Founded8 years ago
Number of ListenersCategories
InvestingBusinessManagement

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Artwork for Alpha Exchange

Latest Episodes

Chris Hentemann launched 400 Capital Management in October of 2008, in the teeth of the Global Financial Crisis, with roughly $2.5 million of friends, family and mostly his own capital. Today, 400 Capital manages approximately $8 billion, focused on ... more

My guest today on the Alpha Exchange is the Convexity Maven, Harley Bassman. Harley joins me at a particularly interesting moment for markets, with long-end Treasury yields backing up, rate volatility elevated and the traditional relationship between... more

With one of the largest repricings in fixed income in decades underway, Brij joins me for a wide-ranging conversation on monetary policy, inflation, the wealth effect and where he sees opportunity across global bond markets.

We begin with a provocat... more

It was a pleasure to welcome Amanda Lynam, Chief Credit Strategist in Global Investment Research at Goldman Sachs, back to the podcast. Nearly three years after our first conversation, much has changed! With the extraordinary capital expenditure cyc... more

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Recent Guests

Harley Bassman
Avid market veteran and Convexity Maven, designer of the MOVE Index
Convexity Maven / Industry veteran
Episode: Harley Bassman, The Convexity Maven
Brij Khurana
Fixed income portfolio manager, Wellington Management
Wellington Management
Episode: Brij Khurana, Fixed Income Portfolio Manager, Wellington
Amanda Lynam
Chief Credit Strategist in Global Investment Research at Goldman Sachs
Goldman Sachs
Episode: Amanda Lynam, Chief Credit Strategist in Global Investment Research, Goldman Sachs
Kimberly Gallant
Global Head of QIS Structuring at CIBC
CIBC
Episode: Kimberly Gallant, Global Head of QIS Structuring, CIBC
Ulrike Hoffmann-Burchardi
CIO Americas and Global Head of Equities, UBS Wealth Management
UBS
Episode: Ulrike Hoffmann-Burchardi, Chief Investment Officer Americas and Head of Global Equities, Wealth Management, UBS
Tobias Adrian
Financial Counselor and Director of the Monetary and Capital Markets Department, IMF
International Monetary Fund (IMF)
Episode: Tobias Adrian, Director of the Monetary and Capital Markets Department, IMF
Jon Havice
Founder and CIO of DGV Solutions
DGV Solutions
Episode: Jon Havice, Founder and CIO, DGV Solutions
Alec Litowitz
Founder of Magnetar Capital and QStar Capital
Magnetar Capital; QStar Capital
Episode: Alec Litowitz, Founder of Magnetar Capital and Qstar Capital
Franklin Parlamis
Founder and CIO, Aequim Alternative Investments
Aequim Alternative Investments
Episode: Franklin Parlamis, Founder & CIO, Aequim Alternative Investments

Host

Dean Curnutt
Host of the show

Reviews

4.8 out of 5 stars from 204 ratings
  • Must listen if you are doing anything with finance

    This is one of my best favorite show in the financial industry, Dean provide many useful views in many many topics

    Apple Podcasts
    5
    WeAllMad
    United Statesa month ago
  • Excellent

    Excellent podcast. Informative. I came across it while looking for Mandy Xu interviews— I like her vix analysis — wound up here and I’m hooked.

    Apple Podcasts
    5
    sp312_IOMT
    United Statesa year ago
  • Nice Vol Review

    Nice Vol Review

    Apple Podcasts
    5
    san_prod
    Switzerland3 years ago
  • Glad I found it

    Thanks so much for creating it public

    Apple Podcasts
    5
    Collar John
    United States4 years ago
  • Love it!

    It’s definitely worth your time if you are trying to stay informed.

    Apple Podcasts
    5
    Mariann!!
    United States5 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Guests and host are noted for depth, focus, and credibility in complex topics.
Excellent discussions with top practitioners and deep dives into risk and volatility.
Listeners praise the high-quality guests and interviewer.
Descriptions emphasize practical, actionable insights for market professionals.

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Talking Points

Recent interactions between the hosts and their guests.

Amanda Lynam, Chief Credit Strategist in Global Investment Research, Goldman Sachs
Q: How should lenders think about borrower capacity to pay and the current leverage/coverage environment versus prior cycles?
She notes that while spreads may widen modestly due to supply digestion, fundamentals remain relatively solid, with attention needed on the left tail of the market (low-rated segments) and the evolving definition of quality in light of rising issuance and sector concentration.
Amanda Lynam, Chief Credit Strategist in Global Investment Research, Goldman Sachs
Q: Give us a sense of the big picture in the credit landscape, including the macro backdrop and the credit fundamentals.
Amanda explains that the macro backdrop is broadly supportive for credit, with growth around trend or slightly above trend, solid fundamentals in leverage and coverage, and a historically strong technical backdrop from yield-based buyers that has kept spreads historically tight and periods of widening episodic rather than persistent.
Ulrike Hoffmann-Burchardi, Chief Investment Officer Americas and Head of Global Equities, Wealth Management, UBS
Q: What role does AI play in your risk management and forecasting models?
AI tools enhance data processing, scenario analysis, and model building, but human judgment remains essential for questioning assumptions, identifying hidden factors, and ensuring the models capture structural shifts rather than just pattern recognition.
Ulrike Hoffmann-Burchardi, Chief Investment Officer Americas and Head of Global Equities, Wealth Management, UBS
Q: How do you manage hidden exposures in a diversified-looking portfolio?
We explicitly test for hidden factors by deconstructing portfolios into their AI-driven connections, ensuring we don't over-allocate to assets that share a common AI exposure, and we stress test across scenarios to avoid unanticipated correlations.
Ulrike Hoffmann-Burchardi, Chief Investment Officer Americas and Head of Global Equities, Wealth Management, UBS
Q: Could you walk us through the three-lens framework and how it translates into portfolio construction?
The framework combines macro, bottom-up, and a third structural-trend lens to forecast returns and assess risks. Each lens feeds into a cohesive view, guiding both offense and defense by aligning investments with AI, electrification, and longevity themes while considering volatility, liquidity, and potential bottlenecks.

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Frequently Asked Questions About Alpha Exchange

What is Alpha Exchange about and what kind of topics does it cover?

This show offers in-depth conversations with senior finance practitioners focused on risk management, derivatives, volatility, and capital allocation across macro and micro market regimes. Episodes often explore how central banks, regulation, and monetary policy shape risk premia, liquidity, and market structure, with particular attention to volatility strategies, cross-asset hedging, and practical lessons from crises and regime shifts. A notable strength is the ability to pull insights from highly experienced traders, quants, and bankers to reveal actionable perspectives on risk budgeting, portfolio construction, and the evolving role of technology and AI in market making and client services. Listeners are likely to appreciate rigorous ana... more

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Which podcasts are similar to Alpha Exchange?

These podcasts share a similar audience with Alpha Exchange:

1. Monetary Matters with Jack Farley
2. Macro Hive Conversations With Bilal Hafeez
3. Excess Returns
4. Forward Guidance
5. Top Traders Unplugged

How many episodes of Alpha Exchange are there?

Alpha Exchange launched 8 years ago and published 274 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Alpha Exchange?

Recent guests on Alpha Exchange include:

1. Harley Bassman
2. Brij Khurana
3. Amanda Lynam
4. Kimberly Gallant
5. Ulrike Hoffmann-Burchardi
6. Tobias Adrian
7. Jon Havice
8. Alec Litowitz

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