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The Derivative

RCM Alternatives
Etfs
Risk Management
Investment Strategies
Managed Futures
Volatility
Trend Following
Return Stacking
Options Trading
Hedge Funds
Bonds
Alternative Investments
Commodity Trading
Private Equity
Stocks
Interest Rates
Diversification
RCM Alternatives
Zero DTE Options
Equities
Inflation

Welcome to The Derivative by RCM Alternatives, where we dive into what makes alternative investments go, analyze the strategies of unique hedge fund managers, and chat with interesting guests from across the investment world. Hosted by RCM Managing Partner, Jeff Malec, join us to take a ride through the world of alternative investments.

PublishesWeeklyEpisodes239Founded7 years ago
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Latest Episodes

Some episodes are worth bringing back. This is one of them. Salem Abraham is a bit of a legend in the trend following and managed futures world. With 30+ years in the business, he’s got the experience, the war stories, and, thankfully, the willingnes... more

Ian Cassel, founder of MicroCapClub and author of Stock Picker, joins Jeff Malec to walk through the underfollowed world of micro cap stocks, tiny, illiquid public companies where most 10x winners are born. He shares his journey from blowing up a dot... more

In this episode, Jeff Malec sits down with John McArthur of Krilogy to trace his path from backup quarterback at Mizzou and Northwestern to CIO of a nearly $6 billion independent wealth management firm. John talks about how college football shaped hi... more

Jeff Malec sits down with Josh Blanchfield of Avos to trace his path from physics at Harvard, poker pro, and 11 years at Bridgewater (including co-heading the trading desk during Lehman) to running a concentrated, risk-aware commodities and macro sho... more

Key Facts

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Recent Guests

Salem Abraham
Founder of Abraham Trading Group, veteran trend follower
Abraham Trading Group
Episode: RE-RELEASE: Texas Trend Following with Salem Abraham
Ian Cassel
MicroCap investor and founder of microcapclub.com
MicroCapClub / StockPicker author
Episode: Zigs, Zags, and Finding Micro Cap Winners with Ian Cassel
John McArthur
CIO of Krilogy Financial
Krilogy Financial
Episode: From Quarterback to CIO: John McArthur on Alts, AI, and the Future of Wealth at Krilogy
Josh Blanchfield
Executive or senior investment professional at Avos Capital
Avos Capital
Episode: Why Oil Didn't Go to $300, plus Chinese gold bugs, Copper Squeezes & Uranium Alpha with Josh Blanchfield (Avos Capital)
Jiro Fujisawa
Executive at Asset Management One
Asset Management One
Episode: Trading 80 Synthetic Markets with Trend, Carry & Skew: Jiro Fujisawa, Asset Management One USA
Eric Crittenden
Founder of Standpoint Funds
Standpoint Funds
Episode: The 6-Year Test 10,000 Tickers Failed: with Eric Crittenden of Standpoint Funds
Gavin Filmore
Executive at Tidal (ETF white-label platform)
Tidal
Episode: So You Want to Start an ETF? With Gavin Filmore of Tidal
Tom Ferguson
Founder of Burnt Island Ventures, early-stage water technology investor
Burnt Island Ventures
Episode: Too Basic to Notice, Too Big to Ignore: Tom Ferguson on the VC Opportunity in Water Tech
Bobby Schwartz
Partner, founder of RCM; former pit trader and floor commentator
RCM Alternatives
Episode: This City Trades Different: Yogi, the Floor, and Building RCM

Host

Jeff Malec
Host of The Derivative, Managing Partner at RCM Alternatives; central figure driving interview flow and guest selection.

Reviews

4.7 out of 5 stars from 117 ratings
  • Awkward interview

    I only listened to the Eric Crittenden interview, but the pace, questions, and style were all awkward and disjointed. I’ve heard Eric interviewed on several other podcasts, and this one was clearly several notches below the others.

    Apple Podcasts
    2
    AppTrail1
    United States2 months ago
  • Amazing

    Whoever gave this podcast two stars should have their head examined. 5 stars! Too many amazing guests to name. Keep it up Jeff

    Apple Podcasts
    5
    sota_trading
    Canada3 years ago
  • Great volatility group of speakers

    The only problem was in backing up 15 seconds to hear a statement repeated, I was taken to a totally different part of the podcast.

    Minutes separate one push of the 10 second forward control. Tens of minutes on the 15 seconds back control. When the end of the countdown to podcast length came, it kept playing for 24 minutes material already covered.

    This never happens on this cast, and it isn’t my Apple podcast’s problem.

    Apple Podcasts
    4
    TheLoneComic
    United States4 years ago
  • Awesome podcast!

    This podcast is a great resource for anyone looking to learn more about the world of investing to enhance their market strategies! Jeff is very knowledgeable and each of his conversations with guests uncovers valuable information.

    Apple Podcasts
    5
    maddie@podcastingyou
    United States4 years ago
  • Great Guests + Interviewer needs improvement

    The guests brought on are incredible and I am grateful overall for the podcast! My suggestion for the interviewer is to not interject so much and talk over the guests. They are intelligent and clearly articulate their points. Let them finish speaking and then follow up. Many Thanks!

    Apple Podcasts
    4
    Matt8363891)3
    United States6 years ago

Listeners Say

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

Engaging lineup of world-class guests with deep market insight.
Audience tends to praise depth and breadth of topics but note pacing or host interjections could improve.
Host drives strong conversations; some episodes feel heavy on small talk before getting to core topics.
Great resource for alternative investments and market strategies, with actionable takeaways.
Guests are consistently high-caliber, making it attractive for sponsorship and guest pitching.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#179
Italy/Business/Investing
Apple Podcasts
#31
Colombia/Business/Investing
Apple Podcasts
#90
Argentina/Business/Investing
Apple Podcasts
#128
Colombia/Business
Apple Podcasts
#157
South Korea/Business/Investing
Apple Podcasts
#231
Saudi Arabia/Business/Investing

Talking Points

Recent interactions between the hosts and their guests.

Trading 80 Synthetic Markets with Trend, Carry & Skew: Jiro Fujisawa, Asset Management One USA
Q: How did you end up at Asset Management One and what does CAFA aim to do?
CAFA combines risk-factor decomposition across 80 markets with long-short CTA-style implementation to create a flexible, multi-factor portfolio that emphasizes orthogonality and diversification across trend, carry, and skew dimensions.
Crisis Alpha, Cocoa Trends, and Correlated Trendlessness: Inside Aspect Capital’s Strategy with Christopher Reeve
Q: How has the strategy evolved from single-model trend following to a multi-model approach?
Aspect has always used multi-timeframe diversification. Over time they added modulators—non-trend models that capture orthogonal effects—to smooth returns and improve the portfolio's risk-adjusted profile. The flagship program still centers on trend following but with a broader, more diversified model set to reduce risk and enhance stability.
Crisis Alpha, Cocoa Trends, and Correlated Trendlessness: Inside Aspect Capital’s Strategy with Christopher Reeve
Q: What is Aspect's backstory and how did the founders come together?
The founders studied physics at Oxford, founded AHL, then formed Aspect in 1997 after some years apart. Two of the original AHL founders remained at Aspect, helping sustain the continuity of the firm while others retired. The network lineage from AHL and Man Group underpins Aspect's DNA.
Crisis Alpha, Cocoa Trends, and Correlated Trendlessness: Inside Aspect Capital’s Strategy with Christopher Reeve
Q: Give us the background. How did you get into the space and end up at Aspect?
I started as a junior risk analyst at Aspect, which was the first role I had in the space about 22 years ago. My background was chemistry, and AI in chemistry gave me a grounding for quantitative finance. I joined Aspect after graduating and progressed from risk and research toward leading the investment part of the business.
From Venezuelan Oil to Nuclear Frontiers: Navigating Resource Markets with Robert Mullin
Q: What were your first thoughts on the U.S. grabbing Venezuelan oil?
The idea of us leaning into what's going on in Venezuela has been pretty well telegraphed for a while, but the swiftness with which it was achieved was surprising.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

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Frequently Asked Questions About The Derivative

What is The Derivative about and what kind of topics does it cover?

Reviews across episodes suggest a focus on alternative investments, trend-following strategies, market structure, and macro themes as they intersect with real-world trading and investing. Guests range from veteran traders and fund managers to ETF founders and real estate operators, often weaving hands-on technical detail with personal career stories. The show is likely to attract finance professionals and sophisticated investors seeking practical insights, risk management perspectives, and industry evolution, with a knack for blending history, current events, and actionable ideas. A standout trait is the host's ability to pull diverse, world-class practitioners into a single dialogue, making complex topics accessible while preserving depth ... more

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Which podcasts are similar to The Derivative?

These podcasts share a similar audience with The Derivative:

1. Flirting with Models
2. Alpha Exchange
3. Top Traders Unplugged
4. Excess Returns
5. Macro Hive Conversations With Bilal Hafeez

How many episodes of The Derivative are there?

The Derivative launched 7 years ago and published 239 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

How do I contact The Derivative?

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What guests have appeared on The Derivative?

Recent guests on The Derivative include:

1. Salem Abraham
2. Ian Cassel
3. John McArthur
4. Josh Blanchfield
5. Jiro Fujisawa
6. Eric Crittenden
7. Gavin Filmore
8. Tom Ferguson

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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