CI INTERVIEW


A lifelong performance in currencies


With Peter Panholzer, Managing Partner of DynexCorp


Peter how long have you been in the Currency Management business and what attracted you to the


industry? I madeP\ ÀUVW FXUUHQF\ WUDGH LQ 2FWREHU


$IWHU


%UHWWRQ :RRGV VSRW VHWWOHPHQW UXOHV ZHUH VWLOO LQ WKHLU LQIDQF\ $W WKDW WLPH \RX KDG D FKRLFH RI IRUZDUG VZDSV VXFK DV GD\V GD\V HWF ZKLFK FRXOG RQO\ EH UHDOLVHG DW H[SLU\ $W 5RVV 3HURW·V 'XSRQW *ORUH )RUJDQ RIÀFH LQ 7RURQWR DUELWUDJLQJ EHWZHHQ DQG GD\ VZDS VSUHDGV ZDV D SRSXODU VWUDWHJ\ $IWHU GD\V \RXU VZDSV PXWDWHG WR VSRW DQG ,I DQ H[SLU\ IHOO RQ D ZHHNHQG DQG WKH LQYDULDEO\


PHDQ UHYHUWLQJ DUELWUDJH KDSSHQHG WR EH LQ \RXU IDYRXU \RX FRXOG HLWKHU HDUQ VHWWOHPHQW LQWHUHVW RU UROO WKH VZDS SRVLWLRQV IRUZDUG ,W ZDV D ZLQ ZLQ ² QRZ RU ODWHU ² VLWXDWLRQ


7KDW ZDV WZR \HDUV DIWHU WKH JROG VWDQGDUG KDG EHHQ DEDQGRQHG ² FDXVLQJ WKH ELJ LQÁDWLRQ RI WKH V ² DQG RQH \HDU DIWHU WKH FUHDWLRQ RI FXUUHQF\ IXWXUHV FRQWUDFWV DW WKH ,00 LQ &KLFDJR , DP VWLOO LQ WRXFK ZLWK Mark J. Powers WKH IDWKHU RI FXUUHQF\ IXWXUHV WRJHWKHU ZLWK Leo Melamed 0DUN DOORFDWHG SHQVLRQ IXQG PRQH\ WR XV LQ


,Q WKHLU GXH GLOLJHQFH KH


DQG KLV SDUWQHU Mike Dubin SXW HPSKDVLV RQ NQRZLQJ WKH PDQDJHU SHUVRQDOO\ E\ DVNLQJ KLP WULFN\ TXHVWLRQV RYHU DQ H[WHQGHG OXQFK , ZDV LPSUHVVHG E\ WKLV SOHDVDQW DSSURDFK


, KDG DFWXDOO\ DEDQGRQHG P\ VXFFHVVIXO FDUHHU DV DQ DUFKLWHFW WR EHFRPH D FRPPRGLW\ WUDGHU DQG E\


D


SXUH FXUUHQF\ WUDGHU $ KLJKO\ GLYHUVLÀHG WUHQG IROORZLQJ V\VWHP LQ commodities GXULQJ WKH LQÁDWLRQDU\ V ZDV YLUWXDOO\ DVVXUHG WR EH SURÀWDEOH


PETER PANHOLZER


Autumn 2011 | Currency Investor 65


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92