Mon, Oct 25, 2021
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

As crypto tumbles, Pythagoras Investment Management finds arbitrage opportunities

Friday, November 30, 2018

Bailey McCann, Opalesque New York for New Managers:

Crypto prices have cratered over the past month but one emerging manager is still finding arbitrage opportunities. Mitchell Dong, Founder of Pythagoras Investment Management tells Opalesque New Managers that even though there have been severe fluctuations in cryptocurrencies over recent months, the pricing discrepancies between exchanges and over time zones can still provide opportunities for investors.

"Within the cryptocurrency/blockchain space, we've seen the trading infrastructure spring up at a rapid pace. There are 20 exchanges, they trade 24/7 and across several time zones. That's a great arbitrage opportunity," Dong says. "We're looking at those little movements - we don't have to be wrapped up in how far Bitcoin is off the highs. Those little movements are still happening between exchanges and within the market."

Pythagoras is not only looking for arbitrages across the exchanges, the strategy also looks at FX arbitrages involving crypto, spread trading and calendar spreads. The resulting program gives investors broad exposure to digital assets without taking on the risk of being a direct bitcoin investor, for example. Pythagoras aims to be market neutral at all times and limits its exposure at a maximum of 10% per exchange.

Dong started building the strategy in 2014, before Bitcoin hit its record highs a......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SPACs: Is the SPAC boom fizzling out?, SPAC merger mania: Companies that went public via blank-check merger in Q3, SPAC marketing heavily curtailed in House Democrats' draft bill[more]

    Is the SPAC boom fizzling out? From Crunch Base: SPACs may be fizzling out. Since February 2021, when the SPAC (special-purpose acquisition company) craze was booming, a market selloff has wiped out about $75 billion of the value of companies that went public using SPACs, according to

  2. Institutional Investors: Vanderbilt University endowment records 57.1% return for fiscal year, MIT endowment logs 55.5% return for latest fiscal year, AP1 re-tenders $720m emerging markets small-cap mandate, Harvard, world's wealthiest university, sees endowment soar to $53.2bn, San Francisco shifts passive equity mandate to active BlackRock ESG strategy[more]

    Vanderbilt University endowment records 57.1% return for fiscal year From PIonline.com: Vanderbilt University's endowment returned a net 57.1% in the fiscal year ended June 30, according to a financial report on the Nashville, Tenn.-based university. The report did not provide benchma

  3. New Launches: Massar Capital launches new global discretionary strategy, White Oak closes latest direct lending fund at $1.3bn, Aterian replicates speedy fundraise to collect $830m in nine weeks, Sofinnova holds $548m final close for Capital X, Multicoin Capital targets $250m for third crypto VC fund, Tobam launches French bitcoin and blockchain fund[more]

    Massar Capital launches new global discretionary strategy Massar Capital Management has launched a new discretionary macro hedge fund strategy which aims to capitalize on directional trading opportunities across a broad set of global markets. The Massar Macro Directional is the N

  4. How Viking Global became the hedge-fund industry's hottest launch pad[more]

    From Business Insider: Since Dan Sundheim's massively successful launch of D1 Capital in 2018, there have been six more spinoffs from Viking Global that have collectively raised billions - and at least one more is in the works. Among them: Grant Wonders, 31, who launched Voyager Global this ye

  5. SPACs: After early investors flee SPAC deals, day traders rush in, PE-backed electric car maker Polestar worth $20bn in US SPAC deal, Europe's IPO market roars back to life but where are the SPACs?[more]

    After early investors flee SPAC deals, day traders rush in From WSJ: Day traders are targeting some companies that recently closed SPAC mergers, reinvigorating some of the meme-stock excitement that helped make such deals popular early in the year. The latest special-purpose-acquis