HedgeD

In this episode of HedgeD, we continue our holiday series exploring Morgan Creek's highest conviction equity themes and ideas for the year ahead and beyond with Part II. Part I focused on our top Growth-oriented themes and ideas, while in Part II we explore the Value-oriented and Short sides of our research efforts. The goal of the series is to talk through a lot of ideas at a high level in hopes...

We continue the holiday tradition started this time last year with the second installment of Morgan Creek's top equity themes for the year ahead and beyond. The goal of the series is to talk through a lot of ideas at a high level in hopes of encouraging further research and due diligence by you, our listeners. We hope you find the Growth-oriented ideas in today's episode interesting and provocativ...

In this episode of HedgeD, we tackle the ins and outs of all the rage these days – Crossover Investing – that is, investing in both private and public equities and all the variations and iterations of equity ownership in between – from Friends & Family rounds, to Growth Equity investments, to Pre-IPO opportunities and so on. Investing has always been in Bill's blood, having bought his first stock...

In this Back-To-School edition of HedgeD, we breakdown why we think long/short equity might be the new 60/40. We think the outlook for stocks and bonds looks pretty bleak considering the starting point offered by prevailing valuations. And as central banks pullback emergency stimulus measures implemented during the pandemic, and inch closer to tightening monetary policy, market tailwinds could qui...

Recent developments have served as a stark reminder that understanding the Chinese mindset is essential to successfully investing in China as a foreigner. Who better to unpack this topic in grave detail than Credit Suisse's Chief China Economist David Wang. David shares many helpful insights on the ongoing regulatory crackdown from a local perspective and provides a unifying framework for thinking...

In Part 2 of our two-part series on oil, we discuss the long-term Bear Case for hydrocarbons with Matt Niblack, President & Co-CIO of HITE Hedge Asset Management. HITE is one of the longest standing and few remaining sizeable hedge funds focused on Energy, which is particularly impressive considering the peaks and valleys they have had to endure across the firm's seventeen-year history. Matt makes...

In Part 1 of our two-part series on oil, we dive into the bullish side of the debate with industry-vet Dan Pickering, Founder & CIO of Pickering Energy Partners. Dan talks about the short-term and long-term fundamentals on both the demand and supply side, and outlines the biggest risks to his otherwise bullish view. With so much riding on the future of hydrocarbons, we hope you come away from this...

Buckle up for a whirlwind of an episode covering Morgan Creek's highest conviction Growth, Value and Short themes. We provide an update on the themes we outlined going into 2021 and add some new ones to the list. It's a doozy of an episode, jam-packed with our top ideas and a bevy of names that warrant your attention.     Join the HedgeD, With A Capital "D" webinar series by contacting us at Hedge...

Brazil is blessed with abundant sunshine, wind and water, positioning the country to be a global leader in renewable energy and agriculture. In this episode of HedgeD, we take a deep dive into this topic with the help of our special guest Zeca, who founded Tarpon Investments at just 23 years old. Zeca shares with listeners his enthusiasm and involvement in these megatrends and a lot of wisdom and...

Latin America represents 6-7% of global GDP, but has only received about 1% of global venture capital and growth equity dollars historically. Why is this, how is it changing and where are the investment opportunities as a result? In this episode, Pedro Faria from Tarpon and Paulo Passoni from Softbank share their thoughts on these questions and a few of their top themes and ideas in the region. En...

Someone much wiser than us once said, "If you don't do macro, macro will do you." This is especially true in Emerging Markets like Brazil where politics can be volatile, and where the prevailing political winds can have an outsized impact on financial markets. Who better to speak with about the current state of affairs in Brazilian politics than RenovaBR Founder, Eduardo Mufarej. RenovaBR is an on...

In this episode of HedgeD, we tee up a deep dive into Brasil. Morgan Creek has been investing in the country since the mid-2000s and the opportunity set today is more exciting than ever. Whether you are new to the country or a seasoned vet, we guarantee you will come away from the next four episodes having learned something new. Enjoy. Join the HedgeD, With A Capital "D" webinar series by contacti...

In this episode, we speak with Cameron Hight, Alpha Theory CEO & Founder. We discuss his journey from CFA designation recipient, to hedge fund analyst, to entrepreneur and business owner. Cameron is a bona fide expert in the field of decision-making, and describes how good portfolio management ultimately boils down to an exercise in applied math. We were fascinated by our conversation with Cameron...

In the final episode of our three part series on Japan, we interview Eduardo Costa from Calixto Global Investors, a TMT long/short equity hedge fund. We touch on a wide array of themes, including Digital Payments, E-Commerce and Cloud Services, and some of the top companies within each. We hope you come away from our deep dive into Japan with a newfound perspective on the vastness of the current o...

Russell Clark is one of the great macro thinkers of our day and has been visiting / investing in Japan for decades. In this episode, we talk to Russell about investing in Japan as a Gaijin ("a foreigner") and what an uptick in inflation, driven by higher food prices, could mean for JGBs, the Yen and Japanese Trading Houses. Mark Yusko's lightning round at the end of the episode is particularly on...

In the next three episodes of HedgeD, we take a deep dive into Nippon, which is the Japanese name for Japan. Nippon literally means "the sun's origin," but is often translated into "Land of the Rising Sun," stemming from Japan's easterly position relative to China. In this episode, we discuss Morgan Creek's history of allocating to Japan, before bringing it to the present in the next two episodes....

Winston Churchill once said, "However beautiful the strategy you should occasionally check the results." In this episode of HedgeD, we discuss how Morgan Creek re-invented its approach to long/short equity following the GFC under the auspices of Project Quantum. What was Project Quantum and how did it come about? Tune in to find out.   Join the HedgeD, With A Capital "D" webinar series by contacti...

At the risk of looking completely incompetent this time next year, we put it all out there in this episode and discuss our top long and short themes heading into the New Year. While we obviously cannot guarantee these will look like top themes with the benefit of future hindsight, we can guarantee that a lot of brainpower, thought and analysis went into their curation. Please join us for this virt...

With over 50 coronavirus vaccines in clinical trials and another 120 in pre-clinical development, who better to make sense of it all than The Wall Street Journal Heard On The Street Healthcare Columnist, Charley Grant. We talk about Pfizer and Moderna, and about the key efficacy and safety questions remaining for their trials, and also talk about the harsh reality that a coronavirus vaccine could...

Not so fast. Just like in 2016, the race for the White House is a lot closer than polls suggest. Courtney Rosenberger of Strategas Research Partners saw a closer race then and sees a few bright spots today in recent polling for Trump in key swing states. While it is Biden's race to lose, the one thing we can count on is a few surprises come election night. What might those surprises and their mark...

Bar-B-Que, Patrick Mahomes and Whetstone Capital Advisors. That's our current Kansas City "Best of" list in no particular order. Yours might be the same after listening to this riveting conversation with Whetstone Portfolio Manager & Managing Partner, David Atterbury, and Investment Partner, Thomas McGannon.   Want more?   Join the monthly HedgeD, With A Capital "D" webinar series by contacting us...

The digital transformation of the global economy has accelerated under the pandemic. In this episode of HedgeD, Mark Yusko interviews Cory Lester and Andrew Schmeelk about this transformation and they take a deep dive into two industries squarely in the crosshairs – China Online Education and E-commerce. Cory and Andrew frame the investment opportunities in both of these Megatrends from a top-down...

How will advancements in DNA sequencing help stop crime, who will win the election in November, and when will the Golden State Warriors return to glory? Answers to these questions and more can be found in Part 2 of our discussion with John Burbank, Passport Global Founder & CIO.   Want more?   Join the monthly HedgeD, With A Capital "D" webinar series by contacting us at HedgeD@morgancreekcap.com...

What do poetry and investing have in common? Tune in to Part 1 of our two-part discussion with John Burbank, Passport Global Founder & CIO, to find out.   Want more?   Join the monthly HedgeD, With A Capital "D" webinar series by contacting us at HedgeD@morgancreekcap.com   Follow us on Twitter @HedgeD_Podcast   Visit us on the web at https://www.morgancreekcap.com/opportunistic-equity/

Mark Yusko, Cory Lester and Andrew Schmeelk explore the origins of Jones Model investing, explain the podcast's name and touch on their collective five decades of experience allocating capital. You can't spell HedgeD without Edge and Mark, Cory and Andrew discuss how the game has changed since the 1990s and early 2000s. With every investment you become either richer or wiser but never both. Your h...