OI09: The Key to Trend Following Success ft. Cole Wilcox
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 10 July 2024
⏱️ 49 minutes
🧾️ Download transcript
Summary
In this episode, Moritz Seibert and Cole Wilcox from Longboard Asset Management speak about systematic trend following strategies applied to single stocks, including the many advantages compared to long only buy and hold, but also some of the challenges and technical details related to portfolio construction. Cole is the founder and CEO of Longboard Asset Management, an Arizona-based alternatives fund management firm. He explains why participating in some of the big outlier price moves in mid and small cap stocks is as important as cutting out the many stock which don’t perform, in other words, avoiding the failures while having a systematic process that allows for taking part in the upside are both important.
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Episode TimeStamps:
02:07 - Introduction to Cole Wilcox and Longboard Asset Management
08:27 - Diving deep into the strategy
10:45 - What drives the alpha of their strategy?
15:41 - Understanding your investor base
18:07 - Understanding their correlation
19:31 - Thoughts on including international stocks
24:15 - Do they fully fund their portfolio?
27:52 - How they approach dividends
29:14 - Do they loan out stocks?
30:34 - Did they ever trade single stock futures in the Bond Chicago Exchange?
32:36...
Transcript
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| 0:00.0 | This is the area that I think just separates people who have success with this types of strategies and those who don't. |
| 0:13.0 | Just because you have a systematic process, you're still a human being and we still have to operate these things and do it. |
| 0:18.0 | And it's like, those who I've seen be successful over time |
| 0:22.3 | are the ones that just didn't quit or deviate from, you know, that what was otherwise a good |
| 0:29.1 | process. It just was going through a short-term performance period that didn't give you positive |
| 0:33.9 | feedback. Imagine spending an hour with the world's greatest traders. |
| 0:40.3 | Imagine learning from their experiences, their successes, and their failures. |
| 0:44.7 | Imagine no more. |
| 0:46.5 | Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund |
| 0:51.4 | managers in the world so you can take your manager, due diligence, |
| 0:55.0 | or investment career to the next level. |
| 0:57.7 | Before we begin today's conversation, remember to keep two things in mind. |
| 1:01.5 | All the discussion we'll have about investment performance is about the past, and past |
| 1:05.6 | performance does not guarantee or even infer anything about future performance. |
| 1:10.4 | Also understand that there's a significant |
| 1:11.7 | risk of financial loss with all investment strategies, and you need to request and understand |
| 1:16.7 | the specific risks from the investment manager about their product before you make investment |
| 1:21.1 | decisions. Here's your host, veteran hedge fund manager, Nealiels Kostrup Larson. |
| 1:37.0 | Welcome to another episode in the Open Interest Series on Top Traders Unplot, hosted by Moritz-Seabert. |
| 1:43.6 | In life, as well as in trading, maintaining a spirit of curiosity and open-mindedness is key, |
| 1:47.6 | and this is precisely what the Open Interest series is all about. |
| 1:52.7 | Join Moritz as he engages in candid conversations with seasoned professionals from around the globe to uncover their insights, successes and failures, |
... |
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