Updated:
Even Odds Investments
Even Odds Investments operates a concentrated global macro strategy managed by founder Chris MacIntosh, who developed the firm's Capital Asymmetric Risk...
Even Odds Investments
Even Odds Investments operates a concentrated global macro strategy managed by founder Chris MacIntosh, who developed the firm's Capital Asymmetric Risk Management framework. The firm deploys capital across public equities, commodities futures, currencies, and, more recently, Bitcoin and digital asset infrastructure. MacIntosh's investment posture emphasizes asymmetric bet-sizing and deep liquidity monitoring, a discipline he publicly attributes to lessons drawn from prior cycles in junior mining and precious metals. The portfolio spans North American and international developed-market equities, gold and silver futures, agricultural commodities, and major currency pairs. In digital assets, the firm takes directional positions in Bitcoin and select Layer-1 protocols, while also evaluating equity stakes in publicly traded crypto-adjacent operating companies. Position sizing is constrained by a proprietary risk-budgeting model that caps single-name exposure and monitors aggregate portfolio correlation in real time. The firm's analyst and trading team operates from Toronto with a lean structure typical of concentrated macro boutiques. MacIntosh publishes market commentary under the Capitalist Exploits brand, a research service that shares thematic trade ideas with a subscriber base of institutional and high-net-worth individuals. No additional office locations or regulated affiliate entities are publicly disclosed. What distinguishes Even Odds structurally is the direct pipeline between MacIntosh's published research franchise and the firm's proprietary capital allocation. The subscription advisory service functions as both an idea-generation engine and a reputational signal, creating a feedback loop where publicly articulated macro theses are stress-tested by a community of professional allocators before the firm commits its own balance sheet.
General information
Firm type
Generalist
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
Toronto, ON, Canada
Sector focus
Frequently asked questions
Who makes investment decisions at Even Odds Investments?
Chris MacIntosh, as founder and portfolio manager, holds sole decision-making authority over the firm's concentrated macro book. He developed the Capital Asymmetric Risk Management framework that governs position sizing and entry. No co-portfolio manager or investment committee structure is publicly disclosed.
What is Capital Asymmetric Risk Management?
It is the proprietary investment framework MacIntosh uses to size bets with asymmetrically favorable risk-reward profiles. The approach emphasizes liquidity conditions, correlation monitoring, and position limits that cap downside while allowing concentrated upside exposure. MacIntosh details the framework in published research distributed through the Capitalist Exploits service.
How does Even Odds source its trade ideas?
Trade ideas originate from MacIntosh's own macroeconomic research, which he publishes through the Capitalist Exploits subscriber platform. The research community provides feedback that helps refine thesis development. The firm does not rely on traditional sell-side research or broker-driven idea generation, operating instead as an independent macro practitioner.
What role does Bitcoin play in the portfolio?
Bitcoin represents a directional macro position within the broader portfolio, not a standalone digital-asset fund. MacIntosh has publicly articulated a thesis around Bitcoin as a portfolio hedge against monetary debasement. The firm also evaluates equity positions in publicly traded companies that provide digital-asset infrastructure or hold Bitcoin on their balance sheets.
Is Even Odds a registered investment advisor?
The firm's regulatory status in Canada is not publicly detailed in available records. Even Odds operates from Toronto without disclosing a specific registration category, compliance structure, or external administrator. Prospective allocators should conduct independent regulatory diligence.
What is the relationship between Even Odds and Capitalist Exploits?
Capitalist Exploits is the trade-research subscription service MacIntosh operates alongside the Even Odds book. It publishes macro commentary, trade ideas, and risk-framework education for a subscriber base. The brand functions as both an external revenue stream and an intellectual proving ground for the firm's investment theses.
Does Even Odds accept external investor capital?
The firm does not publicly disclose a fund structure, AUM, or investor base. Available public records indicate Even Odds operates primarily as a proprietary capital vehicle with MacIntosh as principal, with no marketed fund offerings or third-party capital-raising activity confirmed.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on asset managers?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: