Cem is the Founder and Senior Managing Partner of KAI Volatility Advisors. He is responsible for firm-wide management, as well as its Head of Research and Risk Management. Cem triple majored in Economics, Policy Studies and English at Rice University and holds an MBA from Northwestern University’s Kellogg School of Management.
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1:18 Born in London, lived in Turkey, grew up in Houston and Oklahoma
2:55 Family's immigration stories
4:22 Grandfather fled Bulgaria
6:16 Early interest in social sciences, parents were engineers
7:47 Founding Kai Volatility Advisors
10:23 Equity volatility
12:27 Macroeconomic analysis, dramatic inequality, distrust of system
21:38 Fixing inflationary problem, Federal Reserve chairs before Paul Volcker
31:09 Control inflation with real supply-side responses
34:43 Equality and fairness relative to growth
38:14 Muddling through a recession like in the 70's
40:35 Why the timing was right for Volcker's moves in the 80's
41:45 What is Jay Powell going to do?
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43:08 Bitcoin Amsterdam and Bitcoin 2023 promo
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44:42 Rebalancing takes time, no shortcuts
48:41 Decoupling the US dollar from the gold standard in 1971
52:05 Dollar is threatened, countries de-dollarizing; fairness is naive
55:08 Are Bitcoiners naive?
56:00 First discovering Bitcoin in 2009/2010
58:40 Money is power; future of BTC
1:02:24 Utopia vs. innate desire to compete
1:06:51 "I think rates are going to go a lot higher" in next 6-12 months
1:14:18 Collapse in market will trigger a pivot
1:15:10 "Market is not the economy. Economy is not the market."
1:17:32 Opportunity in this environment
1:19:30 Investing in anything close to government: infrastructure
1:23:19 UBI: Universal Basic Income
1:25:15 Sticky double-digit inflation in the next 5 years
1:27:38 Fed pivot affecting tech stocks
1:29:07 Crises are good because they rebalance things and drive future growth