Colm O'Shea

Colm O'Shea worked at Citigroup and then Soros Fund Management before founding COMAC Capital as a global macro hedge fund. He was featured prominently in Jack Schwager's 'Hedge Fund Market Wizards' (2012) as an example of a sophisticated and intellectually rigorous macro trader. O'Shea is notable for his emphasis on process over prediction: rather than making directional calls about where markets will go, he focuses on identifying scenarios where the risk-reward is highly asymmetric — where a position can generate large gains if a specific scenario plays out, while the downside is limited if it doesn't. This approach produces trades with explicitly defined exit conditions and position sizes. O'Shea's interview in Market Wizards is frequently cited for its clarity about macro trading methodology, including his discussion of how to think about the difference between the consensus view and his own view, and how to translate macro insights into specific positions across currencies, rates, and equity indices. COMAC Capital manages a macro fund focused on global interest rates, currencies, and equity index positions.