Ep. 74: Anna Raytcheva on Trading Regime Changes, Reflation and Crypto

This episode is supported by private equity platform Moonfare.

Anna founded Sonya Capital Management in December 2016. Prior to that, Anna spent over twenty years at Citigroup, where she oversaw a multi-billion dollar balance sheet and large teams of traders as the Head of the Strategic Trading Desk, Co-Head of Risk Treasury and Head of the Agency MBS trading desk. Anna traded through eight central bank tightening and easing cycles and a few financial crises, such as the Asian financial crisis, the Dot-com bubble and the Global Financial crisis. When she left Citigroup, the WSJ featured her as ‘Citigroup’s last proprietary trader’. She graduated with honours from Princeton University with a degree in Mathematics. In this podcast we discuss:

Difference between trading on the sell-side versus at own fund
Framework used to invest in markets
How to use flow information to validate views
The value of machine learning
How to identify market regime changes
The impact of risk transfers on market volatility
How bubbles can be rational
The difference between high-frequency trading and macro
Views on the current reflation theme
Two major risks: US tax changes and China decoupling
Market to watch – yen
Views on crypto markets
Books that influenced Anna: The Second Machine Age (Brynjolfsson, Mcafee), Thinking, Fast and Slow (Kahneman)

You can reach Anna on email.

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