Ep. 316: Gary Antonacci Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 6 February 2015

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Gary Antonacci. Antonacci focuses on two issues in the quant world: relative strength price momentum with trend following absolute momentum. He's developed a strategy where he believes it's best to combine both.

The topic is his book Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk.

In this episode of Trend Following Radio we discuss:

Momentum vs. trend
Relative strength momentum, cross sectional momentum, absolute momentum, and time series momentum
Trend following vs. managed futures as terms
Antonacci's early history and how he found his way into the career he has today
Three legendary traders that crossed paths with Antonacci early on
The efficient market hypothesis as a less-than-solid foundation
Buying higher highs
Ray Dalio and risk parity strategies
Academic perspectives on momentum
The interaction and correlation between the two momentum strategies (relative and absolute)

Jump in!

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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

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0:00.0	This is Trend Following Radio, where great thinking comes alive.
0:10.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.
0:21.2	I am your host, Michael Covel.
0:24.0	Not filtered, raw, honest.
0:27.3	That's my passion.
0:33.2	Before I jump into my guest today, a favor, a request often made. If you like this podcast, go to iTunes, write a review for your time and toil. If you write the review, even if you despise my podcast, even if you can't stand it.
0:55.9	Write a review.
0:57.3	Actually, I don't want you to write a review if you actually despise the podcast.
1:00.7	But if you like it, write a review.
1:02.9	I will send you a DVD of Trend Following Extras.
1:07.1	All you have to do, write a review, drop me an email, send me your address, anywhere in the world.
1:13.3	Boom, boom, boom, boom, real easy.
1:16.5	My guest today is Gary Antinacci.
1:19.0	35 years as an investment professional.
1:22.9	Quant guy.
1:25.0	Focusing on two things in the quant world. Relative strength, price momentum, with trend
1:32.5	following absolute momentum. He's developed a strategy where he believes it's best to combine both.
1:41.8	Today, Gary makes the case for his strategy.
1:46.0	I hope you enjoy this conversation.
1:54.0	Gary, so you're right in the middle, along with me, with this area of momentum and trend and I thought one of the I would let you
2:03.7	right out of the gate clarify what I often see is confusion either in just common trading parlance
2:12.2	or academic parlance and that that is the notion of momentum because sometimes I think people are
	...

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