Dmitry Balyasny's guest appearances

Dmitry Balyasny

Invest Like the Best with Patrick O'Shaughnessy

SALT Talks

Ray Dalio

Josh Wolfe

Donald Trump

Kyle Samani

Kurt Andersen

Gary Vaynerchuk

Stephen A. Smith

Mark Epstein

Wes Moore

Erika Nardini

David Blumberg

Walter Isaacson

Steve Case

Adrian Aoun

Joe Torre

OwlTail

My guest today is Dmitry Balyasny. Dmitry is the Managing Partner and CIO of Balyasny Asset Management, otherwise known as BAM. BAM runs a multi-strategy, multi-PM model that aims to produce consistent absolute returns. Since its founding in 2001, it has produced only one negative year and become one of the largest firms of its kind. Please enjoy my conversation with Dmitry Balyasny.    For the full show notes, transcript, and links to mentioned content, check out the episode page  here.   -----   This episode is brought to you by Canalyst.  Canalyst is the leading destination for public company data and analysis. If you're a professional equity investor and haven't talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at canalyst.com/Patrick.    -----   This episode is brought to you by Vanta. Vanta has built software that makes it easier to get and maintain your SOC 2, HIPAA or ISO 27001 reports at a fraction of the typical cost. Listeners can redeem a $1k off coupon at vanta.com/patrick.    -----   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include  Tobi Lutke,  Kevin Systrom,  Mike Krieger,  John Collison,  Kat Cole,  Marc Andreessen,  Matthew Ball,  Bill Gurley,  Anu Hariharan,  Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:53] - [First question] - The origin story of his firm and the key stages of evolution [00:06:43] - Describing the difference between good and great in platform hedge funds  [00:10:25] - How a multi-strategy, multi-investor group works and managing capital allocation [00:13:58] - What he’s trying to solve at the end of the day as their CIO [00:16:21] - How close they are to their idealized end-state  [00:18:26] - Typical amounts of leverage associated with these types of models [00:20:22] - Lessons learned about incentivizing talented investors [00:22:39] - Ways he tends to attract risk takers and their levels of variance [00:28:15] - Other characteristics that are common amongst great PMs [00:30:42] - The nature and source of edge and how it’s changed most over time [00:33:19] - Some of the hardest portfolio and business decisions he’s had to make  [00:37:59] - One of his most important business decisions on the firm side [00:40:09] - How they’ve thought about shorting as a firm in general and more recently [00:43:52] - How interest rates affect this style of investing [00:45:29] - His view on the opportunity set in private markets and what does and doesn’t excite him about it [00:49:42] - How reading Ayn Rand most shaped his thinking [00:50:36] - Things Ayn most got right and most got wrong in his mind [00:51:24] - What the war in Ukraine has felt like for him as a Ukrainian-American [00:52:08] - Ways the future still has him excited as he continues to build his firm [00:53:53] - Where his trading instincts draw him today and areas of interest [00:55:11] - His most memorable trade of all time [00:56:37] - In which order the major asset classes will be affected by digital innovation [00:58:13] - The kindest thing anyone has ever done for him

My guest today is Dmitry Balyasny. Dmitry is the Managing Partner and CIO of Balyasny Asset Management, otherwise known as BAM. BAM runs a multi-strategy, multi-PM model that aims to produce consistent absolute returns. Since its founding in 2001, it has produced only one negative year and become one of the largest firms of its kind. Please enjoy my conversation with Dmitry Balyasny.  For the full show notes, transcript, and links to mentioned content, check out the episode page <a href="https://www.joincolossus.com/episodes/36513013/balyasny-building-a-better-model" rel="nofollow" target="_blank"> here</a>. ----- This episode is brought to you by Canalyst. <a href="https://canalyst.com/patrick/?utm_source=iltb_show_notes&amp;utm_medium=sponsored_content&amp;utm_campaign=Invest%20Like%20The%20Best&amp;utm_term=apr_2022&amp;utm_content=apr_2022" rel="nofollow" target="_blank"> Canalyst</a> is the leading destination for public company data and analysis. If you're a professional equity investor and haven't talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at <a href="http://canalyst.com/Patrick" rel="nofollow" target="_blank">canalyst.com/Patrick</a>.  ----- This episode is brought to you by <a href="https://www.vanta.com/patrick" rel="nofollow" target="_blank">Vanta</a>. Vanta has built software that makes it easier to get and maintain your SOC 2, HIPAA or ISO 27001 reports at a fraction of the typical cost. Listeners can redeem a $1k off coupon at <a href="https://www.vanta.com/patrick" rel="nofollow" target="_blank">vanta.com/patrick</a>.  ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit <a href="https://www.joincolossus.com/episodes" rel="nofollow" target="_blank">joincolossus.com/episodes</a>.  Past guests include <a href="https://joincolossus.com/episodes/64592621/lutke-building-a-modern-business?tab=transcript" rel="nofollow" target="_blank"> Tobi Lutke</a>, <a href="https://joincolossus.com/episodes/60313963/krieger-how-to-build-a-great-product?tab=transcript" rel="nofollow" target="_blank"> Kevin Systrom</a>, <a href="https://joincolossus.com/episodes/60313963/krieger-how-to-build-a-great-product?tab=transcript" rel="nofollow" target="_blank"> Mike Krieger</a>, <a href="https://joincolossus.com/episodes/34646260/collison-growing-the-internet-economy?tab=transcript" rel="nofollow" target="_blank"> John Collison</a>, <a href="https://joincolossus.com/episodes/15230717/cole-how-to-operate-lessons-in-brand-distribution-and-leadership?tab=transcript" rel="nofollow" target="_blank"> Kat Cole</a>, <a href="https://joincolossus.com/episodes/58516750/andreessen-making-the-future?tab=blocks" rel="nofollow" target="_blank"> Marc Andreessen</a>, <a href="https://joincolossus.com/episodes/69430337/ball-the-future-of-media-movies-the-metaverse-and-more?tab=transcript" rel="nofollow" target="_blank"> Matthew Ball</a>, <a href="https://joincolossus.com/episodes/12224182/gurley-all-things-business-and-investing?tab=transcript" rel="nofollow" target="_blank"> Bill Gurley</a>, <a href="https://joincolossus.com/episodes/99792081/hariharan-lessons-in-growth-investing?tab=transcript" rel="nofollow" target="_blank"> Anu Hariharan</a>, <a href="https://joincolossus.com/episodes/91241527/thompson-platforms-ecosystems-and-aggregators?tab=transcript" rel="nofollow" target="_blank"> Ben Thompson</a>, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up <a href="https://www.joincolossus.com/newsletter" rel="nofollow" target="_blank">here</a>. Follow us on Twitter: <a href="https://twitter.com/patrick_oshag" rel="nofollow" target="_blank">@patrick_oshag</a> | <a href="https://twitter.com/JoinColossus" rel="nofollow" target="_blank">@JoinColossus</a> Show Notes [00:02:53] - [First question] - The origin story of his firm and the key stages of evolution [00:06:43] - Describing the difference between good and great in platform hedge funds  [00:10:25] - How a multi-strategy, multi-investor group works and managing capital allocation [00:13:58] - What he’s trying to solve at the end of the day as their CIO [00:16:21] - How close they are to their idealized end-state  [00:18:26] - Typical amounts of leverage associated with these types of models [00:20:22] - Lessons learned about incentivizing talented investors [00:22:39] - Ways he tends to attract risk takers and their levels of variance [00:28:15] - Other characteristics that are common amongst great PMs [00:30:42] - The nature and source of edge and how it’s changed most over time [00:33:19] - Some of the hardest portfolio and business decisions he’s had to make  [00:37:59] - One of his most important business decisions on the firm side [00:40:09] - How they’ve thought about shorting as a firm in general and more recently [00:43:52] - How interest rates affect this style of investing [00:45:29] - His view on the opportunity set in private markets and what does and doesn’t excite him about it [00:49:42] - How reading Ayn Rand most shaped his thinking [00:50:36] - Things Ayn most got right and most got wrong in his mind [00:51:24] - What the war in Ukraine has felt like for him as a Ukrainian-American [00:52:08] - Ways the future still has him excited as he continues to build his firm [00:53:53] - Where his trading instincts draw him today and areas of interest [00:55:11] - His most memorable trade of all time [00:56:37] - In which order the major asset classes will be affected by digital innovation [00:58:13] - The kindest thing anyone has ever done for him

Dmitry Balyasny - Building a Better Model - [Invest Like the Best, EP. 274]

Steve Cohen

Ilana Weinstein

The hedge fund comeback with Steve Cohen the Founder of Point72. Ilana Weinstein the Founder &amp; Chief Executive Officer of The IDW Group. Dmitry Balyasny the Managing Partner &amp; Chief Investment Officer of Balyasny Asset Management. Mike Rockefeller the Co-Chief Investment Officer of Woodline Partners.Moderated by Barry Ritholtz the Founder &amp; Chief Investment Officer of Ritholtz Wealth Management.——————————————————————Watch this video on YouTube: https://www.youtube.com/c/SALTTube/videosFor podcast transcripts and show notes, visit https://www.salt.org/SALT New York is a global thought leadership and networking forum at the intersection of finance, technology and public policy. Over the course of three days, leading investors, creators and thinkers will take the stage in support of SALT’s mission: empowering big ideas.#SALTNY

The hedge fund comeback with Steve Cohen the Founder of Point72. Ilana Weinstein the Founder &amp; Chief Executive Officer of The IDW Group. Dmitry Balyasny the Managing Partner &amp; Chief Investment Officer of Balyasny Asset Management. Mike Rockefeller the Co-Chief Investment Officer of Woodline Partners.Moderated by Barry Ritholtz the Founder &amp; Chief Investment Officer of Ritholtz Wealth Management.——————————————————————Watch this video on YouTube:<a href="https://www.youtube.com/c/SALTTube/videos" rel="nofollow" target="_blank"> https://www.youtube.com/c/SALTTube/vide</a>osFor podcast transcripts and show notes, visit <a href="https://www.salt.org/" rel="nofollow" target="_blank">https://www.salt.org/</a>SALT New York is a global thought leadership and networking forum at the intersection of finance, technology and public policy. Over the course of three days, leading investors, creators and thinkers will take the stage in support of SALT’s mission: empowering big ideas.#SALTNY

The Hedge Fund Comeback: Steve Cohen, Ilana Weinstein, Dmitry Balyasny & Mike Rockefeller | #𝐒𝐀𝐋𝐓𝐍𝐘