SI38: Process over outcome and how sports relates to trading

Top Traders Unplugged

Niels Kaastrup-Larsen

Business, Business News, Investing, News

4.8 • 670 Ratings

🗓️ 2 June 2019

⏱️ 93 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week, we discuss the importance of process over outcome, how sports can be related to Trading, and whether mistakes are to be avoided completely or something we should look forward to learning from. Questions answered this week include: is Ray Dalio’s suggestion of 15 uncorrelated return streams the ultimate way to diversify your portfolio? Are some markets more tradable for Trend Followers than others? Is market ‘noise’ making it harder for Trend Followers, or is the volatility a good thing? How do you deal with strategic retirement decisions as a Trend Follower? Is it in a Hedge Fund’s best interests to stay relatively small and private?

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Episode TimeStamps:

00:00 – Intro

02:30 – Weekly review of performance

10:15 – Live event update 10/26/19-10/27/19

11:30 – Top tweets

40:30 – Question 1: Jack; When/how do you decide to change a losing TF system?

49:20 – Question 2: Werner; How do you decide not to add a specific market to a TF system?

57:15 – Question 3: Sam; Should investors decrease risk as they near retirement?, and if so…How?

01:24:30 – Discussion of noise vs volatility paper by Michele Cocchiglia & Stefan Martinek of Kelonia Capital Management: Deconstructing Noise – A closer look at the notion of noise, its definition and potential impact in today’s market environment.

01:29:00 – Benchmark performance update

Transcript

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0:00.0	You're about to join Jerry Parker, Maritz Siebert, and Neil's Kastrup Larson on their raw and honest journey into the world of systematic investing and learn about the most dependable and consistent yet often overlooked investment strategy.
0:15.0	Welcome to the Systematic Investor podcast series.
0:19.6	Jerry Parker,
0:21.6	Moritz Siebert and I,
0:22.8	Niels Castro Blaston,
0:24.5	are back with this week's edition of the
0:25.6	Systematic Investor Series,
0:27.2	where each week we focus on
0:28.6	helping you build safer
0:29.9	and better performing portfolios
0:31.6	by including trend following in the mix
0:34.0	and where we do our best
0:35.7	to answer all of your questions.
0:40.6	Last week, you were out, Moritz. Now you're back.
0:43.6	Great to have both you and Jerry here online. Good morning. Good afternoon.
0:48.8	Good morning. Good morning. Good morning. Hi, guys.
0:51.3	Yeah, absolutely. And what a month may turned out to be it's certainly been a while
0:59.8	since we've seen so many of the kind of classical trend following markets move this much in a single
1:06.8	month but i don't think you necessarily can you can say that it was an easy month to navigate.
1:13.6	There were quite a few reversals in some of the established trends.
1:19.6	Some of the things that I noticed was, of course, Grange, which was a difficult sector, the downtrends we've seen for quite a few months,
1:30.9	suddenly changed course and we saw a very unforgiving rally, if I can put it like that,
	...

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