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What’s the Big Deal about Eisler Capital?

I have people asking me what’s so great about making 6% annually when Redittors can make 10x on Gamestop or Dogecoin. In fact, my 12-year-old nephew told me he made 1,000% on some crypto currency he is promoting (only to have it fall by 99% in a day). Furthermore, the fund needs to leverage by four times to make 12-15%? Meaning without leverage the strategy only makes 3%? My mom can make the same with an Asian corporate bond.

It’s actually not that easy to have reliable single-digit returns with a $1 billion. That’s more than an entire bond issuance. We are talking about probably Sharpe 2 and above. You have to fight with funds with deep pockets:

And before you start sending your resume to the funds mentioned above, because hey of course you can generate 3% returns a year, Eisler seems to be looking for quants:

How about you set up your own fund because it doesn’t seem that hard to raise $1 billion? Well there are some barriers to entry including the expensive people (who can also go to Google or Facebook or some fintech startup):

You need to have quite a bit of money to raise money. Maybe from the 16 years of salary and bonuses at Goldman Sachs.


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