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Minyanville >  Professors >  Peter Tchir
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Peter Tchir
Peter started TF Market Advisors in 2011 as a platform to trade and provide market information.  The trading strategies are macro, but the direction and value decisions are based on insights into the credit markets.  The firm’s commentary has been gaining respect and Peter has become a recognized source of information on the developments in Europe in particular, but has also been very involved in recommendations on the banking industry and high yield bonds.  He has appeared numerous times on Bloomberg TV and radio, and has been quoted in articles in the Wall Street Journal, the Associated Press, and Fox Business News.  Many top hedge funds, money managers, and asset allocators have asked to be included on the distribution list.

Peter was a Portfolio Manager at KLS in the fall of 2008 and spring of 2009.  He achieved positive performance for the period using a combination of single credit positions, well timed macro trading, and an active trading strategy that developed additional trading revenue around the core credit decisions and enhanced relationships to ensure allocations on investment grade new issues that could perform well.  The returns were aided by product choice as much as specific credit decisions because the understanding of bonds, loans, and CDS, and investment grade and high yield, and single name and index, helped maximize returns or minimize downside for any level of risk.

Peter has been involved in all aspects of credit trading.  He started his career with Bankers Trust in 1994 in the newly formed Credit Derivatives group.  While at Bankers Trust and then Deutsche Bank, Peter ran High Yield Credit Derivatives which included cash, CDS, synthetic CDO’s, total return swaps on leveraged loans, and hybrid CLO’s.  During this time he was very involved in the industry groups that developed the CDS product and that deep familiarity with the product helps when trading as the in depth knowledge can spot trading opportunities when markets are volatile or headline driven.  He was hired by UBS to build out those businesses there, but over time became involved in the Credit Index Trading.  He was a board member of CDS Indexco, which created the CDX suite of indices.  He went on to start a successful index trading business at RBS in North America, where during 2007 and early 2008, the business went from nowhere to being profitable and a top 5 liquidity provider.

Peter received his Bachelors of Mathematics degree, Joint Honors Computer Science and Combinatorics and Optimization from the University of Waterloo, where he was a Descartes Fellow and graduated as the all-time leading scorer on the football team.  He completed his MBA in Finance and Marketing at Vanderbilt University and was awarded the Matt Wiggington Leadership award for outstanding performance in finance.
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