George Schultze, Schultze Asset Management
– Top decile performer since 2020 (HFRI ED: Distressed/Restructuring Index)
– Discusses 2024 market risks, opportunities and outlook
– 30 years of experience investing in Event-Driven and Distressed Securities
– Schultze Asset Management is based in New York
Market Outlook with Crescent Rock Capital Management, LP
We chat with Michael Marone, CIO and co-founder of Crescent Rock Capital Management, LP about his outlook for the year ahead in equities, and his views on where the biggest risk-reward tradeoffs may lie in 2024 and in the medium term. This interview was recorded on March 27th, 2024.
Our latest episode of Market Outlook features top performing manager Sal Naro, Coherence Credit Strategies. Sal discusses his expectations regarding the fixed income landscape and economic outlook in 2025, and describes his investment process and strategic thinking.
Manager: Sal Naro
Fund : Coherence Credit Strategies, New York
HFR Vital Stats:
- Top quartile performer in volatility and Sharpe Ratio in the HFRI RV: Fixed Income Corporate Index, over 2, 3, 5, and 7 year horizons
- Top quartile HFR Advanced Diversification metric of high alpha returns over 2, 3, 5, and 7 year horizons
Strategy: Long/Short Fixed Income Credit with focus on corporate and sovereign investment grade, crossover, and high yield markets in North America and Europe.
Parent Group: Tiptree Inc (TIPT) with AUM $1.6 billion
Mission: Prioritize risk-adjusted absolute returns, capital preservation, and low volatility, viewing the fixed income landscape as an extension of equity markets.
Experience: 42 years experience in fixed income long/short credit
Industry Awards:
2024 US Performance Award, HFM
2023 Best Credit Long/Short Fund, Hedgeweek
2022 Best Credit Long/Short Fund, Hedgeweek
2016 U.S. Performance Award, Alt Credit Intelligence
2014 Firm of the Year, Global Fixed Income, Alternative Investment
Patrick Kazley discusses his expectations of the market environment in the near and medium term, and One River’s approach in these conditions. This interview was recorded April 29th, 2025
Manager: Patrick Kazley, Head of Solutions
Firm: One River Asset Management, LLC
HFR Index: HFR Long Volatility Index
Patrick Kazley is Head of Solutions at One River Asset Management, leading ORAM’s risk mitigation solutions practice. In this role, Patrick heads the construction and management of portfolio solutions for clients. Further, Patrick helps global clients understand, access, and stay connected to the investment capabilities across all ORAM strategies. Patrick leverages over a decade of experience in systematic strategies and institutional investing across the globe. Patrick holds a degree in International Finance from Tufts University, graduating magna cum laude. Patrick also holds a certificate in Enhanced Financial Analysis from the Principles for Responsible Investment Academy.
Zem Sternberg discusses his expectations of the market environment in the near and medium term, and Lake Hill’s strategic approach. This interview was recorded May 2nd, 2025
Manager: Zem Sternberg, CEO
Firm: Lake Hill Capital Management
HFR Index: HFR Long Volatility Index
Zem Sternberg got his start in 1987 as a graduate student at The University of Chicago, trading index options using a simple Apple computer and statistical techniques. He quickly caught the attention of Blair Hull, a pioneer in options trading, and began working with the Hull Trading team where he learned firsthand the importance of staying disciplined during difficult market events like the 1987 crash. Zem joined Salomon Brothers in 1990 and built their equity derivatives business into a global powerhouse and became one of the youngest Managing Directors in firm history.
In 2005, Zem founded Lake Hill Capital Management, LLC and serves as the firm’s Chief Executive Officer. Lake Hill manages funds for some of the world’s most distinguished foundations, endowments, institutions, and Forbes list individuals.
Doug Fincher analyzes market volatility in April 2025 and what to expect in the near and medium term, as well as Ionic’s approach. This interview was recorded on 7th May, 2025.
Manager: Doug Fincher, Portfolio Manager
Firm: Ionic Capital Management, LLC
HFR Index: HFR Long Volatility Index
Doug Fincher is a portfolio manager at Ionic Capital Management LLC. Together with the Principals, he is responsible for asset allocation across strategies. Prior to joining Ionic, Mr. Fincher was the president and CEO of Rock Maple Funds LLC, a New York-based fund of hedge funds, from 2008 to 2012. During his tenure, he also was a portfolio manager and served on the firm’s investment committee. From 2002-2008 he worked for CIBC WM Inc., where he managed two departments and served on the bank’s U.S. Executive Management Committee. Earlier in his career, Mr. Fincher held a variety of senior management positions at Lazard Frères, ABN AMRO Bank N.V. and Kidder Peabody. Mr. Fincher graduated from Lafayette College in Easton, PA in 1986 with a BA in History.