The Hedge Fund Podcast with Fexingo: Alternative Investments, Strategies, and Institutional Investing

Lucas and Luna unpack an unusual disconnect in the volatility market as of June 16, 2026: the VIX has plunged 27.6 percent in five days to 16.09, while the VVIX — the 'volatility of volatility' — has only fallen 8.6 percent to 87.58. They explain why this gap signals a potential tail-risk event and how hedge funds are using options on the VIX, variance swaps, and put spreads to position for a vola...

The SpaceX IPO has landed, and hedge funds are now navigating the aftermath: retail investors got tiny allocations, the stock is volatile, and big holders like Ron Baron are sitting on massive gains. Lucas and Luna break down how funds are trading the float shortage, the hold-or-sell calculus for institutional players, and what the VIX drop to 16.20 tells us about risk appetite. Plus, a look at ho...

The Russell 2000 surged 3.1% in the past five days while the S&P 500 edged up just 0.3%. Lucas and Luna break down exactly how hedge funds are positioning for this small-cap rotation: the catalyst from falling rates, the sectors and stocks getting the most institutional flow, and why some fund managers see a trap in low-quality names. They also discuss the Charlie Javice pardon story and what it m...

Episode 51 of The Hedge Fund Podcast digs into the small-cap rotation that has powered the Russell 2000 up 3.1% over the past five days while the NASDAQ slipped. Lucas and Luna explore why hedge funds are piling into small caps now, the role of falling Treasury yields and lower Fed funds rates, and how managers are pairing long small-cap positions with short large-cap tech to capture the spread. T...

On Episode 50 of The Hedge Fund Podcast, Lucas and Luna break down the hedge fund playbook for the SpaceX IPO — the biggest listing in history at $75 billion. They explore why funds are buying allocation from retail accounts, the mechanics of secondary block trading, and what the S&P 500's implicit valuation tells us. Along the way, they tie in market-wide signals like the S&P 500 at 7,431 and the...

Lucas and Luna break down what institutional investors are actually doing in the week after SpaceX's record-setting $75 billion IPO on Nasdaq. They walk through the mechanics of aftermarket positioning—how funds are sizing their initial stake, whether they're adding on dips or taking quick profits. The conversation covers the unusual retail allocation cut to the low 20% range and what that signals...

SpaceX’s IPO is the biggest in history, aiming for a $2 trillion market cap on debut. But hedge funds aren’t just buying the stock — they’re trading the allocation mechanics. This episode unpacks how funds are exploiting the gap between institutional and retail allotments, using data from the S&P 500’s record high and the small-cap Russell 2000’s 3.1% weekly surge as context. Lucas and Luna break...

With SpaceX pricing its $75 billion IPO and allocating retail investors a smaller slice than expected, hedge funds are running the numbers on a classic arbitrage. Lucas and Luna break down the mechanics: how funds use prediction markets like Kalshi to gauge aftermarket pop, the two trillion dollar market cap debate, and why the low retail allocation actually strengthens the IPO arbitrage case. Plu...

SpaceX is raising $75 billion in the biggest IPO in history, with prediction market traders betting it debuts above a $2 trillion market cap. But how are hedge funds actually positioning? We break down the specific mechanics: the retail allocation being cut to the low 20% range, the SPAC-like blank-check vehicles being used for structured access, and the post-listing volatility arbitrage on option...

On June 11, 2026, SpaceX's retail IPO allocation was cut to the low 20% range, and prediction markets are pricing a $2 trillion market cap on debut. Lucas and Luna break down how hedge funds are positioning around one of the most anticipated public listings in history. They discuss the implications of a tight retail allocation, the role of prediction markets like Kalshi and Polymarket in pricing t...

On this episode of The Hedge Fund Podcast, Lucas and Luna examine how hedge funds are positioning around KKR's bold call that AI-driven productivity gains are accelerating at a pace not seen since the 19th century. With the S&P 500 near all-time highs at 7,267 and the VIX at 20.53, they discuss why event-driven and macro funds are treating KKR's warning as a signal to short overvalued AI hype name...

Episode 43 of The Hedge Fund Podcast dives into a surprising new play: hedge funds are buying up solar panel scrap from decommissioned farms, extracting silver and other precious metals. With silver prices rallying and solar installations from the early 2000s reaching end-of-life, funds see a $2 billion opportunity. Lucas and Luna discuss the economics, the players, and the environmental angle. Pl...

In its first week, Kalshi's perpetual futures contracts crossed $1 billion in volume. Lucas and Luna break down what 'perps' are, why they appeal to hedge funds over standard prediction market binary bets, and how a few funds are using basis trades and delta-neutral strategies to extract yield from the chaos. They also discuss the regulatory edge Kalshi has over offshore crypto perp platforms and...

Episode 41 of The Hedge Fund Podcast with Fexingo. Lucas and Luna explore how hedge funds are buying up decommissioned wind turbine blades, extracting carbon fiber and rare earth magnets, and selling them into supply-constrained industries like aerospace and EV manufacturing. They break down the economics: a single 50-meter blade yields about 8 tons of carbon fiber worth roughly $80,000 on the rec...

As BYD predicts 80% of new car sales in China will be electric, hedge funds are scrambling to map the battery supply chain from lithium mines to cathode factories. Lucas explains why the trade has shifted from buying Tesla to shorting cobalt miners and going long on lithium refining capacity in China. Luna asks whether the trade is too crowded and what happens if solid-state batteries kill lithium...

Episode 39 dives into a niche but fast-growing corner of alternative investing: silver recovery from end-of-life solar panels. With global solar installations booming, hedge funds are backing recycling startups that extract silver—a critical metal for electronics and solar manufacturing itself. Lucas and Luna break down the economics, the key players, and why this is becoming a $2 billion market o...

Episode 38 of The Hedge Fund Podcast with Fexingo dives into the emerging hedge fund strategy of arbitraging Hong Kong IPO allocations. With the Hang Seng index down and the VIX spiking to 20, Lucas and Luna analyze how funds are exploiting the disconnect between IPO volume and post-listing performance. They discuss the mechanics of grey market trading, the role of cornerstone investors, and why t...

The VIX surged 34% in five days to 21.51 after a hot jobs report on June 5 pushed Fed rate cuts further out of reach. Lucas and Luna break down how hedge funds are positioning into this volatility spike — whether they're buying puts on the S&P 500, fading the VIX pop with calendar spreads, or using VIX futures contango to capture carry. They look at the VIX-VVIX relationship, the diverging moves i...

In this episode of The Hedge Fund Podcast, Lucas and Luna dissect how hedge funds are trading around the June 5 hot jobs report. With the S&P 500 down 2.8% in five days, the VIX surging 34% to 21.51, and Fed Chair Warsh facing policy tests, they explore the specific positioning shifts: why some funds are shorting small caps via the Russell 2000, how tail-risk hedgers are piling into VIX calls, and...

Lucas and Luna explore the quiet revolution inside hedge fund technology stacks: proprietary AI models trained on decades of in-house trading data, not generic LLMs. With the S&P 500 down 2.8% in five days and the VIX spiking 34% to 21.51, hedge funds are doubling down on custom systems that can adapt faster than off-the-shelf AI. Lucas breaks down how one mid-sized multi-strat firm spent two year...

With the S&P 500 down 2.8% in five days and the Nasdaq off 5.1%, this episode zooms in on a signal that looks like a regime shift: the Russell 2000 has been getting hammered harder than large-cap indexes relative to fundamentals. Lucas and Luna break down the specific ratio hedge funds are watching — the S&P 500 to Russell 2000 ratio — and what it says about positioning, liquidity, and the Fed hol...

With the S&P 500 down 2.8% in five days and the VIX surging 34% to 21.51, hedge funds are piling into short bets on the broad market. Lucas and Luna drill into the specific trade: how managers are using S&P futures, put option collars, and inverse ETFs to capitalize on the rotation out of large-cap tech. They examine the jobs report shock that pushed the Fed further out of reach, the Nasdaq's 5.1%...

The Bank of Japan's latest policy tweak has created a fresh opportunity in Japanese bank stocks, and hedge funds are diving in. Lucas and Luna break down the trade: why regional banks like Mitsubishi UFJ and Sumitomo Mitsui are suddenly attractive, how the carry trade unwind is shifting capital flows, and what the VIX at 15.67 and VVIX at 85.75 tell us about the broader risk backdrop. They also di...

Ark Invest says Starlink alone could support a $2 trillion valuation for SpaceX ahead of its IPO. Lucas and Luna break down how hedge funds are positioning around this number — the SPAC precedent, the options market whisper, and the ETF arbitrage that lets institutional money get pre-IPO exposure. They also look at what the VIX at 15.40 and the VVIX at 85.75 say about hedge fund conviction in this...

Episode 30 of The Hedge Fund Podcast with Fexingo. Lucas and Luna unpack Morgan Stanley's plan to open its trillion-dollar wealth management funnel to AI agents, announced June 3, 2026. They explore what this means for hedge funds: how funds are positioning around the AI-in-wealth-management theme, the potential for new alpha in fintech and big tech stocks, and the macro backdrop with the VIX at 1...