In this episode, Moritz Seibert speaks with Asim Ghaffar, the founder and CIO of AG Capital, a Boston-based macro hedge fund. Asim explains why he believes insourcing rather than outsourcing the organizational processes of running a hedge fund business is critical and how it can add long-term value to the business. He also describes why sales and branding are key components to a successful investment management business, and how AG Capital connects with clients and prospective investors. In the second part of the conversation, Asam and Moritz speak about AG Capital’s style of trading, how they position size, why they take concentrated positions, how their methods differ from those of systematic trend following funds, and what their current long-term and short-term investment themes are, touching on gold, Bitcoin, copper, natural gas, and some other markets. ----- Follow Niels on Twitter , LinkedIn , YouTube or via the TTU website . IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here . And you can get a free copy of my latest book “ Ten Reasons to Add Trend Following to Your Portfolio ” here . Learn more about the Trend Barometer here . Send your questions to
[email protected] And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast. Follow Moritz on Twitter . Episode TimeStamps: 02:13 - Introduction to Asim Ghaffar and AG Capital 06:48 - What defines a great hedge fund? 12:13 - How do you find clients as a hedge fund? 18:32 - Creating world class in-house operations 25:32 - Ghaffar's framework for building portfolios 35:05 - How Ghaffar differs from a classical trend follower 39:16 - Why Ghaffar enforces a fixed number of positions 41:40 - What is so cool about stocks? 46:16 - Why Ghaffar sometimes decreases an exposure 51:36 - How Ghaffar approaches gold 54:05 - Why AG Capital stays away from Bitcoin 01:01:54 - Is China actually more democratic than the US? Copyright © 2025 – CMC AG – All Rights Reserved ---- PLUS: Whenever you're ready... here are 3 ways I can
