The Meb Faber Show
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Jason Buck, Mutiny Fund – Carry, Convexity & The Cockroach | #440
Today’s guest is Jason Buck, founder and CIO of Mutiny Funds, which specializes in volatility, options, hedging, and portfolio construction. In today’s episode, Jason shares the winding path that led him to launch Mutiny Funds and focus on the risk management side of things. We spend a lot of time talking about what true diversification looks like and why people don’t consider human capital when constructing portfolios. Jason shares how this led him to launch the cockroach portfolio and long volatility strategies.
Key Points
- Jason Buck's journey from real estate entrepreneur to co-founder and CIO of Mutiny Funds was shaped by the 2007-2008 financial crisis, which led him to focus on hedging strategies and risk management.
- The Mutiny Funds specialize in long volatility, tail risk, and constructing portfolios like the Cockroach Portfolio to provide true diversification and manage savings for any macro environment.
- Allocating to long volatility and tail risk strategies should be significant enough to balance a portfolio, with Jason suggesting an equal weighting between offensive (like 60/40 stock/bond portfolios) and defensive assets to manage risk effectively.
Follow Jason: Website; X; LinkedIn
Resources: Girl stomping grapes in Napa and falling Pirates of Finance Mutiny Investing Podcast Time To Hedge Your House
Chapters
| 0:00 | |
| 1:22 | |
| 8:21 | |
| 11:02 | |
| 16:02 | |
| 25:36 | |
| 30:11 | |
| 39:36 | |
| 49:01 | |
| 59:00 | |
| 1:10:06 | |
| 1:20:20 | |
| 1:22:15 | |
| 1:25:02 |
Transcript
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