SI272: Disrupting the Asset Management Industry ft. Andrew Beer

Top Traders Unplugged

Niels Kaastrup-Larsen

Business, Business News, Investing, News

4.8 • 670 Ratings

🗓️ 2 December 2023

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today, we are joined by Andrew Beer, who helps us uncover why managed futures have been struggling in 2023 and and what makes this year so different from 2022. We discuss the history of replication strategies all the way back to its origins and the intricacies of Andrew’s own replication strategy, and how disruptions have change the asset management industry and if the replicators are now facing their own competition from more pure CTA ETF offerings. We debate if Managed Futures have been "commoditized" and how the 60/40 portfolio is making a comeback this year and if 2022 was just a "fluke".

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Episode TimeStamps:

01:35 - What has caught our attention recently?

04:04 - Industry performance update

08:08 - How bad 2023 is for managed futures?

13:19 - A turn away from trend?

18:29 - Timeframe and lookback in CTA replication

27:02 - The details of Andrew's trading approach

33:01 - How increased competition impacts Andrew's trading

41:31 - How low can you go, when it comes to fees?

48:17 - The great underestimated risk

51:30 - What drives asset flows?

01:00:04 - Is 60/40 back on track?

01:07:13 - Just look at the AUM

01:11:15 - Thanks for listening

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Transcript

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0:00.0	You're about to join Neil's Kostrup Larson on a raw and honest journey into the world of systematic investing
0:07.2	and learn about the most dependable and consistent yet often overlooked investment strategy.
0:13.2	Welcome to the Systematic Investor Series.
0:33.2	Welcome, welcome back to this week's edition of the Systematic Investor series with Andrew Beer and I, Neil's Castor Blaston, where each week we take the polls of the global market through the lens of a rules-based investor.
0:36.6	Andrew, it's always great to have you on.
0:38.7	This week is no different.
0:41.1	How are you keeping where are we finding you today?
0:44.0	Well, thank you so much, as always, for having me back on.
0:47.1	I am in the New York City area, getting ready for the holidays.
0:52.2	Things are mostly good, perhaps with the exception of, like a lot of people, having walked into a propeller about a month ago,
0:55.2	when Powell decided to, you know,
0:58.1	sort of give some legs to the pivot or the taper trade.
1:02.0	So, but altogether, nothing to complain about in good spirits.
1:06.4	Yeah, no, absolutely.
1:07.4	It's great to hear that you're doing well.
1:09.6	And, of course, I can't wait to get into our conversation today where one of the topics we will discuss will be something along the lines.
1:18.3	You know, how bad is 2023 when it comes out when it comes to CTAs?
1:24.8	And as you rightly alluded to, not least thanks to the very early Santa Claus Rally in Stocks and Bonds
1:32.5	we've had in the last few weeks.
1:34.6	But as usual, before we do that, I'm also interested in hearing kind of what you've been
1:40.4	paying attention to, maybe a little bit outside of our usual topics and what you're
1:47.4	finding interesting?
	...

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