The trader I interviewed for this episode is; Ryan Moffett from Blackpier Capital.
Having been involved with markets for about 12 years now, Ryan has experience in trading, strategy design, portfolio construction and even alternative investments—all, while working for several firms (one of which, managed upwards of $2B).
More recently though, Ryan’s ventured out to start a fund of his own, where he wears the badge of Lead Investment Manager.
Some of the subjects we check off during this episode, include; the snapping point that lead Ryan to pursue trading and cold-call 50 fund managers for guidance. How he was able to form various mentoring relationships, the first steps of starting a fund and the unseen challenges.
Plus we discuss options, strategies and research, but the highlight for myself was hearing Ryan’s insight on deliberate practice and mental discomfort.
Lessons learned in this interview:
- The snapping point that lead Ryan to pursue trading and cold-call 50 fund managers. Plus, how these conversations played out and lead to mentoring.
- Ryan discusses why he felt the need to learn the “back office of Wall Street” and how institutional firms managed portfolios, and how his perceptions changed.
- Once feeling confident to manage other peoples money, Ryan walks us through his first steps to starting a fund and setting up the business that goes beyond trading.
- Ryan gives an overview of his funds flagship product which consists of complex options strategies, and speaks about their ongoing quantitative research process.
- How deliberate practice differs from practice in a general sense, and why mental discomfort and frustration is a positive—these are the times you’re growing.
“If you can’t give your trading plan to someone else to trade for you, then it’s not clear enough.”
Links and resources mentioned:
- Trader – A classic documentary about Paul Tudor Jones—the man who many claim to be the greatest trader of our time. Follow the link to watch part 1 on YouTube.
- The Comprehensive Guide to Trading Mentorship – While we discussed mentoring, I mentioned this free guide I wrote on the subject. Follow the link to download.
- What Creates Greatness – An article Ryan wrote about deliberate practice, and The Talent Code by Daniel Coyle is recommended reading if you’d like more depth.
- BlackpierCapital.com – To learn more about Ryan and Blackpier Capital, visit this website. And here’s the Leaning Into Discomfort article which was referenced.
- @BlackpierLP – Follow Ryan on Twitter, and tweet him about this episode.
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