"Positions Can Be LESS Risky at Higher Prices" - Derek Pilecki on Finding Edge in Financials

Podcast: Odds on Open · Ethan Kho

Opublikowano: 2026-04-02

In this episode of Odds on Open, Ethan Kho sits down with Derek Pilecki, founder of Gator Capital Management, to deconstruct his 20%+ annualized track record in the financial sector. While many generalist PMs view financials as a "sleepy backwater" or overly complex, Derek explains how he extracts alpha from regional banks, brokerages, and insurance companies by identifying fundamental business changes before they are reflected in the tape.The conversation moves from the microstructure of bank underwriting in a post-Dodd-Frank regime to the practicalities of portfolio construction, including why Derek has expanded his concentration from 25 to 40 names and his strict...