Blog
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AI, Markets, and the Profits of Doom with Adam Butler
Jeff Malec sits down with Adam Butler of Return Stacked ETFs, back for the first time since their May 2023 AI episode, when GPT-4 had just come out. Since then…
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Trend Following’s Bond Problem
Our own Jeff Malec went solo on the Derivative last week, dishing on all sorts of topics from ski races…
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Asset Class Scoreboard: March 2026
March 2026 brought a broad pullback across most asset classes to close out the first quarter. World Stocks fell -8.03%…
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OpenSnow’s Joel Gratz built a Pod Shop for Powder Days: the PMs are Meteorologists and the Returns are Faceshots. Send It!
What happens when a data-obsessed mind that could have been optimizing portfolios decides to optimize powder days instead? This episode…
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Drone Wars, Space Intelligence, and AI-powered Defense Tech Investing with Ian Winer of Center15 Capital
In this episode of The Derivative, Jeff Malec sits down with Ian Winer, West Point grad and founder of Center…
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When Skynet Writes a Substack: The AI Doom Piece That Moved Markets
Look, we’ve been talking about this. Way back in August of ’25, Jeff hopped on his solo Summer Six-Pack pod,…
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SuperCars, Salad, and Sumo Wrestlers: Inside One River’s Systematic Risk Mitigation Playbook with Patrick Kazley
In this episode of The Derivative, Jeff Malec is joined by Patrick Kazley of OneRiver explore how long volatility, convexity,…



