Interview with Joe Macaione
In this episode of The Payne Points of Wealth, we interview our cousin Joe Macaione, a top hedge fund insider. Joe shares his journey from the Goldman Sachs bond desk to three decades working in the hedge fund industry, covering the “wild West” early days to the Great Financial Crisis, and the subsequent regulations that followed.
Joe offers insights into what makes a fund manager great, the perils of using leverage in an investment portfolio, the current state of the hedge fund industry, and more. Join us for an enlightening and educational conversation!
AI will improve efficiency for many industries increasing earnings .10
Big rotation from tech to RE, small caps, financials 2:00
What are hedge funds? :00
How Joseph got started in 1991 at the Convertible Bond Desk: 3:50
How the industry changed post-2008 8:00
Why Joe changed jobs and went into hedge funds 10:00
A dinosaur fossil for $44.6 million? 14:20
What’s to prevent another financial crisis? 16:00
How much is the actual hedge fund world like the show “Billions?” 23:25
What was it like to go from the best hedge fund of all time? 25:00
How to make a good fund great, the 3 top essentials: 28:00
Why is it bad for a fund to be overcapitalized? 34:00
The importance of net returns 38:00
The funds that didn’t adjust after the great financial crisis 40:00
What were your views on money at an early age and how did you get started? Bob was a huge influence. 46:00
