SI108: The case for and against the Kelly Criterion ft. Robert Carver

Top Traders Unplugged

Niels Kaastrup-Larsen

Business, Business News, Investing, News

4.8 • 670 Ratings

🗓️ 4 October 2020

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Robert Carver joins us today to discuss the case for and against the Kelly Criterion, short vs medium vs long-term Trend Following, how closely you should be following different markets, diversification across markets vs across timeframes, how mainstream financial media is driving investors to alternative information sources, the amount of screens you need to trade successfully, and the importance of viewing returns in terms of percentage rather than monetary terms.

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Episode TimeStamps:

00:00 – Intro

01:24 – Macro recap from Niels

04:40 – Weekly review of performance

31:11 – Q1 & Q2; Roberto: Can Rob & Moritz explain the framework behind building block ‘volatility-targeting in his book ‘Systematic Trading’? Why does Rob, in his book, disagree with trading leveraged ETFs?

01:03:50 – Q3; Chris: Am I correct in avoiding the mini-futures in Silver market due to low liquidity?

01:10:08 – Trend Following: short-term vs medium term vs long term

01:18:05 – Benchmark performance update

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PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:

1. eBooks that cover key topics that you need to know about

In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful.

Transcript

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0:00.0	You're about to join Jerry Parker, Maritz Sebert, and Nealz Kostrup Larson on their raw and honest
0:07.3	journey into the world of systematic investing and learn about the most dependable and consistent
0:12.3	yet often overlooked investment strategy. Welcome to the Systematic Investor podcast series.
0:22.7	Welcome or welcome back to this week's edition of the systematic investor series with
0:26.7	Rob Carver, where each week we take the pulse of the global market through the lens
0:33.0	of a rules-based investor.
0:35.2	Now, for those of you who are regular listeners, our conversations are, of course, intended
0:39.1	to keep you focused, inspired, and motivated
0:42.1	to continue your rules-based investing journey.
0:45.0	And if you're new to the show,
0:46.2	we hope that today's episode will trigger some level of curiosity
0:49.7	to check out the back catalog
0:51.2	and listen to past episodes that you may have missed.
0:56.6	Rob Moritz, great to be back with you this week.
0:59.9	How are things where you are? How are you doing?
1:02.4	Yeah, doing well. It's a bit wet and soggy here in not very sunny England.
1:07.7	So it's been quite funny. I've been setting up meetings with people and saying,
1:12.0	yeah, it's going to be at 3pm British summertime, but it doesn't feel like summer here,
1:15.8	that's for sure. Hey, guys, I'm fine. Weather's improving and nothing to really complain about. So all
1:22.0	good. Very good. Very good indeed. So, I mean, just as a quick summary, as we always do, it was a bit of a crazy
1:29.5	week, certainly in US politics with, of course, the presidential election debate, which I don't
1:35.3	think we need to talk about. And of course, now with Donald Trump and the first lady contracting
	...

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