Podcast / Live Segment
Mike Duncan appeared on Nasdaq TradeTalks alongside Jill Malandrino, Kevin Davitt, and Nicholas Smith to discuss what actually determines portfolio survival during market stress–beyond surface-level hedging narratives.
The conversation focused on a reality many institutions avoid until it hurts:
Most portfolios don’t fail due to a lack of hedges.
They fail due to a lack of discipline.
Key themes covered:
- Capital efficiency is no longer optional
Tying up capital just to gain exposure is an outdated model. Derivative-based optimisation is now core infrastructure for teams serious about returns and resilience – particularly across the Asia–Pacific region. - Index derivatives as clean growth exposure
Nasdaq’s index derivatives, including the N100, offer efficient access to US growth without balance-sheet drag, funding leakage, or unnecessary capital consumption. - A hedge only matters if it can be monetised under stress
Hedges that cannot be executed, monetised, or recycled quickly during volatility are not protection — they are decoration. Speed, liquidity, and execution discipline matter more than theory when markets break.
The discussion moved beyond academic hedging frameworks to the practical mechanics of how capital, liquidity, and derivatives behave when volatility spikes.
This appearance reflects Para Bellum Advisors’ focus on real-world execution, capital discipline, and total-portfolio resilience – not optics-driven hedging.
Watch the segment
Mike joins the discussion from 02:57
https://www.nasdaq.com/videos/capital-efficiency-and-risk-management-using-derivatives
Topics Mike Speaks On
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Capital efficiency and derivative-led portfolio optimisation
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Hedge design vs hedge monetisation
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Index derivatives and balance-sheet efficiency
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Structural drag in FX, rates, and equity overlays
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Portfolio resilience under real stress conditions
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