Jeff Chang
The Disruptor
Contrarian and drawn to the edge; challenges the settled answer.
Jeff Chang earns The Disruptor honestly, through four years of zero income spent proving banks and insurers were unnecessary intermediaries in defined outcome investing. He did not iterate on existing ETF structures at Vest. He rebuilt the delivery mechanism entirely, wrapping options-based downside protection inside a regulated fund vehicle no incumbent had cleared through regulatory terrain.
“Yeah, so I had a very short stint at ProShares where I met my co founder Quran Sud. He worked on the structuring desk at Barclays and we talked about, hey, let's start our own firm. And then our first idea was going to be buffers, like downside protection that we saw in the structure note market.”
“Spooky I mean, they teach that in middle school. Yeah, exactly. So the quantum entanglement of that you have two protons that, you know, if you do want to X, Y will do the same. It's just like having two dice. If dice on Earth, by the way, they've proven this.”
“Exactly. This is why we say why not diversify your risk management and hedge so if I have a hundred dollar portfolio and let's say I have $60 in equity, $40 in fixed income, and let's just say I take $10 out, I put six from equity four from fixed income, and I put it into, let's say, a 10% buffer strategy in S&P.”
“Exactly It's a call activity. That's a great question. So let's take Igold as an example, right? Prior to that fund, GLD options stopped trading at 4 o'clock. By the way, this is one of the reasons why SIBO partnered with us is how do we solve certain issues in the option market for the construction of funds, right?”
Masters in Business: “Financial Products for Hedging with Vest Co-Founder Jeff Chang”
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