SI279: Prepare for a Bumpy Landing ft. Katy Kaminski
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 712 Ratings
🗓️ 20 January 2024
⏱️ 59 minutes
🧾️ Download transcript
Summary
In this episode, I'm joined by Katy Kaminski, who delves into the nuances distinguishing momentum trading from trend following, emphasizing the importance of comprehending the underlying philosophy of a trading strategy. Katy sheds light on the concept of 'pure trend' and offers insights on identifying convergent patterns within a trend following approach. We also reflect on the peculiarities of 2023, with Katy sharing her perspective on why we might be entering 'the final phase' and her expectations of a "bumpy" rather than smooth or abrupt economic transition, among other insightful topics.
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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
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Episode TimeStamps:
00:52 - A funny story from Katy
02:34 - An important shout-out
03:42 - A rare event in Denmark
06:55 - Industry performance update
08:10 - Thoughts on 2024 so far
09:42 - The difference between momentum and trend following
13:53 - Convergent vs. divergent strategies
24:08 - What does "pure trend" mean to Katy?
28:03 - What makes you a pure trend follower?
32:53 - Looking back at 2023
37:48 - An unusual year
43:22 - Discussing Katy's paper on fixed income
47:43 - How were trend models positioned in the 1960's?
51:11 - What does your position mean?
54:40 - Next big bull market in commodities?
56:10 - Thanks for listening
Resources discussed in this Episode:
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Transcript
Click on a timestamp to play from that location
| 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. |
| 0:33.5 | Welcome and welcome back to this week's edition of the systematic investor series with Katie Kaminsky and I, Neil's Castro-Larsen, where each week we take the pulse of the global market through the lens of a rules-based investor. |
| 0:39.2 | Katie, wonderful to be back with you in the new year. How are you doing? How things where you are? |
| 0:44.8 | Good. Things are good. It's cold here in Boston, but, you know, that's January and that's winter. |
| 0:56.7 | So. I'm spending a day in Denmark and it's pretty cold here as well, I have to say. Now, before we do anything else, that's a couple of important things we need to do. And the first thing is, we need to go back in time to after our last |
| 1:03.2 | conversation, because after I clicked stop record, you told me a really funny story about a doctor |
| 1:10.0 | near you. |
| 1:11.2 | So I really wanted you to share that. |
| 1:13.2 | It was quite amusing. |
| 1:14.6 | Yeah, so I was, you know, this is a shout out to Niels because like I had an appointment at the allergist. |
| 1:20.0 | And I went to the allergist and I had to drive far away at in Waltham, which is not quite in the city. |
| 1:26.4 | And I go to the allergist and I'm sitting there |
| 1:28.7 | and the doctor comes in and he goes, are you Katie Kaminsky? And I was like, yes, that's my name. |
| 1:36.4 | And then he's like, from top traders unplugged. And I was like, wow, really? Yeah. I mean, he's like, I said, he's like, I love Neals. I love the podcast. And I was so excited because it was just so not expecting that at the allergies. So you've got fans everywhere, Neils. It was so cool. I was like, Dr. Morris, thank you. Anyway, so that was my story. |
| 2:02.1 | And it just shows you like what this podcast is fun. |
| 2:05.8 | Like people are learning things about investing and, you know, |
| 2:09.5 | even my allergist is up to speed with top traders I booked. |
| 2:13.5 | So that's kind of cool. |
| 2:15.0 | I had not expected that, Katie, and I appreciate you sharing. |
| 2:18.6 | But of course, massive shout out to your doctor for being a loyal listener. |
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