Ex-Citadel PM: All Hedge Fund Failures Are Because of One Reason - Rich Falk Wallace

Podcast: Odds on Open · Ethan Kho

Opublikowano: 2026-07-09

In this episode of Odds on Open, we dissect the mechanics of institutional alpha generation with Rich Falk-Wallace, founder of Arcana and former portfolio manager at Citadel. Rich explains why the vast majority of hedge fund failures stem from flawed portfolio construction and mismanaged risk leakage rather than a lack of fundamental insights. We dive deep into how elite multi-strat platforms mathematically isolate idiosyncratic alpha by systematically neutralizing ex-ante correlation and factor exposures across trading books. For PMs, quants, and allocators looking to understand market structure, this conversation provides a rigorous framework for evaluating the cost of volatility, managing...