SI309: Bonds Behaving Badly ft. Katy Kaminski
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 715 Ratings
🗓️ 17 August 2024
⏱️ 59 minutes
🧾️ Download transcript
Summary
Along with Katy Kaminski, we discuss how the current disruptions in the economy and markets cause a change in investors’ behaviour. We dive deep into the interconnection between inflation, bonds and volatility and we discuss how to build a portfolio that performs well in economic downturns. We also discuss the difference between a crisis versus a correction and the evolution when it comes to "model speed" within the CTA industry, the importance of sticking to the process in times of uncertainty and much more.
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Episode TimeStamps:
00:47 - What has been on our radar recently?
02:15 - Have investors internalized the new Divergent economies and policies?
05:37 - Are investors mistaking convergence for divergence and vice versa?
08:57 - Industry performance update
17:19 - Connecting the dots
23:35 - Bonds - Why are they Behaving Badly?
27:59 - Conditional return distribution - what and why?
30:04 - Alternative markets and the 60/40 struggle
35:29 - The role of crisis alpha and a discussion on speed
42:42 - Thoughts on carry in the CTA industry
47:29 - Did the VIX really hit 65?
55:34 - Sticking to the process
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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 and learn about the most dependable and consistent yet often overlooked investment strategy. |
| 0:13.0 | Welcome to the Systematic Investor Series. |
| 0:33.2 | Welcome and welcome back to this week's edition of the systematic investor series with Katie Kaminsky and I, Neels Kastrow-Larsen, where each week we take the pulse of the global market through the lens of a rules-based investor. |
| 0:36.2 | Katie, it is so wonderful to be back with you this week. |
| 0:37.8 | How are you doing? What's going on where you are? Good. Things are good. It's still summer. You know, it is so wonderful to be back with you this week. How are you doing? What's going on where you are? |
| 0:40.2 | Good. Things are good. It's still summer. |
| 0:41.8 | You know, it's warm still. |
| 0:44.7 | So trying to soak it in, I guess. |
| 0:47.1 | Yeah, make the most of it for sure. |
| 0:53.5 | Now, we have, as usual, a really thorough lineup of topics. |
| 0:57.1 | Of course, somewhat inspired by what's happened in the recent weeks. But before we get into all of that good stuff, as I always like to do, |
| 1:04.6 | I'd love to hear sort of what's been on your radar, market-oriented or not market-oriented |
| 1:09.3 | in the last few weeks since we spoke? |
| 1:12.5 | Well, I guess, you know, the market has been so wild. So let's talk about something else. |
| 1:16.4 | I mean, I think this summer has been so fun with all the different sports. And, you know, |
| 1:22.3 | obviously the Olympics, but I think we were also really excited watching the Euro Cup happened to be |
| 1:27.2 | in Spain when Spain won |
| 1:29.9 | and not at the actual game, but it was so cool because all the Spanish at the restaurant we went to |
| 1:37.8 | to watch it got up and started seeing the national anthem and I was like, I just love the Euro Cup. |
| 1:42.9 | It's so fun yeah so I guess |
| 1:45.5 | sports has been kind of a good distraction this summer it's been a great great |
| 1:49.7 | summer for sports funny you mentioned it my daughter actually was also in Spain when |
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