Vaneer Bhansali on Losing Fed Independence as the Biggest Tail Risk Right Now

In this episode of the Odd Lots podcast, hosts Tracy Alloway and Joe Weisenthal interview Vineer Bhansali, founder of A Long Tail Alpha, about tail risk hedging and portfolio construction in today's complex market environment. Bhansali discusses his career path from theoretical physics to Wall Street, the evolution of volatility selling, and the impact of automated trading on market liquidity. The conversation explores the purpose of tail risk protection as insurance against market collapses, the challenges of diversification, and potential risks on the horizon, including the erosion of Federal Reserve independence. Bhansali also shares insights on constructing robust portfolios and offers advice for young, quantitatively-minded individuals interested in finance.