Tina Vandersteel
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
Tina Vandersteel reads as The Navigator because she deliberately strips away country-specific noise, steering emerging market debt through relative value and arbitrage frameworks that hold across any sovereign context. Her discipline lies in sequencing, concentrating alpha on confirmed arbitrage first, then managing residual risk, and in pricing each instrument independently before selectively hedging only mispriced exposures. It is navigation by instrument rather than instinct, a method built to work whatever the weather.
“We try to de-emphasize needing to know anything about the country. My background is in relative value analysis and arbitrage analysis — it's independent of whatever the country is.”
“If you can find an arbitrage, you should put all your alpha chips there first and then worry about the rest later.”
“We price each one of them independently, and we take and hedge the risks that we don't think are priced appropriately.”
Masters in Business: “Tina Vandersteel on Emerging-Country Debt (Podcast)”
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