{"podcast":{"title":"The Derivative","slug":"the-derivative-1211538","podcast_index_feed_id":1211538,"rss_url":"https://anchor.fm/s/11908b3c/podcast/rss","website_url":"https://www.rcmalternatives.com/the-derivative-podcast-2/","image_url":"https://d3t3ozftmdmh3i.cloudfront.net/production/podcast_uploaded_nologo/2846855/2846855-1620915954456-19c2307e4d322.jpg","author":"RCM Alternatives","episode_count":233,"summary":"Welcome to The Derivative by RCM Alternatives, where we dive into what makes alternative investments go, analyze the strategies of unique hedge fund managers, and chat with interesting guests from across the investment world. Hosted by RCM Managing Partner, Jeff Malec, join us to take a ride through the world of alternative investments.","last_synced_at":"2026-07-10T08:18:50.968173+00:00","page_url":"https://stenobird.com/podcast/the-derivative-1211538"},"episode":{"title":"Defensive Equity, Flex Options, and the Future of Quant at PGIM","slug":"defensive-equity-flex-options-and-the-future-of-quant-at-pgim","published_at":"2026-02-12T18:13:37+00:00","page_url":"https://stenobird.com/podcast/the-derivative-1211538/defensive-equity-flex-options-and-the-future-of-quant-at-pgim","show_page_url":"https://stenobird.com/podcast/the-derivative-1211538","url":"https://podcasters.spotify.com/pod/show/rcm-alts-the-derivative/episodes/Defensive-Equity--Flex-Options--and-the-Future-of-Quant-at-PGIM-e3f0ovu","audio_url":"https://anchor.fm/s/11908b3c/podcast/play/115417534/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-1-12%2F417987369-44100-2-f85b0b788b9e6.m4a","summary":"In this new episode of The Derivative, host Jeff Malec talks with PGIM Quantitative Solutions’ Devang Gambhirwala and Lorne Johnson about managing over $100 billion in quant and multi-asset strategies inside a $1.5 trillion asset manager. They break down the boom in options-based ETFs, from covered calls and defensive equity to buffered and defined-outcome strategies powered by flex options, plus what today’s volatility and rate environment mean for investors. The trio also tackles the impact of AI, fiscal imbalances, and even gold’s renewed role in portfolios. SEND IT! Chapters: 00:00-00:46= Intro 00:47-07:25 = From Newark to Quant: Devang & Lorne’s Paths to PGIM and the Rise of a $100B Quant Group 07:26-17:06 = Inside PGIM QSG: Trillion‑Dollar Roots, Quant Investing 101, and the Rise of AI-Driven Models 17:07-28:30 = Options Boom: Democratized ETFs, Flex Options, and the New Era of Defensive Equity 28:31-42:38 = Defined Outcomes, Tail Hedges, and Building Portfolios for an Uncertain Macro World 42:39-56:24 = AI, Gold, and the Future of Risk: PGIM’s Take on What Comes Next for Markets and Jobs Follow along with Devang Gambhirwala and Lorne Johnson on LinkedIn and be sure to check our PGIM's website at www.pgim.com for more information! Don't forget to subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ , follow us on Twitter at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and our host Jeff at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@AttainCap2⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠…","meta_description":"In this new episode of The Derivative, host Jeff Malec talks with PGIM Quantitative Solutions’ Devang Gambhirwala and Lorne Johnson about managing over $1…","key_points":[],"chapters":[],"topics":[],"duration_seconds":3384,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-derivative-1211538/episodes/defensive-equity-flex-options-and-the-future-of-quant-at-pgim/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-derivative-1211538/defensive-equity-flex-options-and-the-future-of-quant-at-pgim.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}