Cem Karsan
Cem Karsan is the Founder and Senior Managing Partner of Kai Volatility Advisors, formerly known as Aegea Capital, a recognized leader in volatility investing. He is responsible for firm-wide management, as well as being Head of Research and Risk Management. He also advances his legacy in research, thought leadership in the volatility space, risk management, and portfolio innovation for the firm. Karsan is an experienced volatility trader and derivatives expert. Prior to launching Kai, he spent two decades building industry-leading derivatives businesses. He is a trader skilled at projecting market changes, managing portfolios based on the first- and second-order Greeks, known as Charm and Vanna. Previously, Karsan worked under renowned Wall Street investor John Mulheren at Bear Wagner Specialists, where he helped expand the firm’s fledgling derivatives arbitrage business into a competitive force within the industry.
Cem Karsan Professional Experience / Academic History
Professional Experience
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Founder and Senior Managing Partner
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Volatility Trader
Academic History
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M.B.A., Management, Analytical Finance
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B.A., Mathematical Economic Analysis, Policy Studies, English
Under his leadership, Kai specializes in volatility strategies, which are designed to profit from fluctuations in the level of volatility in the market.
The firm created a non-correlated and scalable investment vehicle that takes advantage of the structural mispricing inherent in option indices worldwide.
The firm employs strict risk management frameworks to mitigate potential losses and protect capital, and provides tailored investment solutions aligned with each client's risk tolerance and investment goals.
CAREER HIGHLIGHTS
He started his career as a volatility trader at the Derivatives Arbitrage Group of RBC Dominion Securities, now RBC Wealth Management.
In 2005, he founded his own proprietary market making firm, Precision Capital Management, specializing in equity index volatility arbitrage.
Under his leadership, Precision Capital earned a compounded return to investors of many multiples of their initial investment.
With its success, Precision quickly grew in the products it traded, accounting for approximately 13% of Cboe S&P 500 index option volume at its peak.
MEDIA & APPEARANCES
Karsan's macro insights have been spotlighted in The Wall Street Journal, CNBC, Benzinga, Yahoo! Finance, Fortune, and Bloomberg LP.
He has appeared as a guest on Real Vision.