Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

'Sometimes no trade is the trade', Vulcan Metals takes the long view

Friday, June 29, 2018

Bailey McCann, Opalesque New York for New Managers:

When James Gallo started in markets, commodities were still traded in the pit. After a short stint as an intern he was hooked. Gallo eventually became the youngest COMEX trader ever at age 21. Since then, he's built an expertise in copper and metals trading that he now uses to run his own fund.

"As a floor trader you learn certain things about how the commodities market works," he tells Opalesque New Managers. "When the market changed and went to all electronic trading, a lot of guys didn't handle it that well. I've been fortunate in that when I wanted to start my own fund I was able to join up with a couple other metals brokers and we're using our knowledge of floor trading and electronic trading to build the Vulcan Metals strategy."

Vulcan Metals is a discretionary metals strategy that trades both base and precious metals. The fund uses a mix of arbitrage and flow trading and has a target size of about $300-400 million.

"We're really focused on market structure, we aren't doing directional trades," he says. "That means sometimes the trade isn't there but we're looking at the market and thinking about the next 10 or 15 years. Sometimes no trade is the trade."

Gallo first developed views on market structure by trading his own money. He owns and operates All American Copper corp a copper broker......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1