(Bloomberg) --
Based in Sydney, Australia, David Adams, the chief investment officer at Reminiscent Capital, picked up on funding market stress early on. That helped his firm's Asia-focused macro strategy implement a multi-step trade that delivered a 16.5% return in the first quarter of 2020. He joins the latest “What Goes Up” podcast to discuss how it worked, and what markets are signalling now.
Some highlights of the conversation:
“We start to get a sense of funding pressure quite early as a bit of a warning sign out here in Asia through those markets. What's more is if it's come from China, if it's a coronavirus that's on our doorstep, we started to see it spreading from Sydney is getting shut down and China, to tourism and such getting affected over here, and then our funding markets start to pick that up. It meant that you could do the following. That gave us the signal that there was going to be a problem.”
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