SI56: The risk of smooth and steady returns for risk avers investors
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 7 October 2019
⏱️ 78 minutes
🧾️ Download transcript
Summary
This week, we discuss the potential risks of aiming for smooth & steady returns, the pitfalls of having to make predictions, the higher-than-expected appearances of tail events, why it’s dangerous to look at the ‘average performance’ of an industry, and why aiming to trade in a style that suits your personality can actually turn out to be a bad idea. Questions we cover this week include: Have you encountered any CTAs with unusually low-frequency trading strategies? Should the optimization of your strategy come from an ideas-based approach or a data-based approach? How do you feel about the integration of Value Investing into a Trend Following strategy? What does discipline mean to you, and how do you stay disciplined?
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Episode TimeStamps:
00:00 - Intro
01:05 - Request for podcast reviews
01:30 - Macro recap from Niels
04:00 - Weekly review of performance
11:10 - Top tweets
43:25 - Live event update 10/26/19-10/27/19; Special Guest: Denise Shull
44:20 - Question 1: Chris; What should an individual pay in fees (data, commissions, etc.)?
47:45 - Question 2: Chris; Do you follow front month or highest open interest contracts/continuous contracts or the month you are trading?
54:30 - Question 3: Jacob; Have you encountered extremely low frequency CTAs?
01:00:20 - Question 4: Jacob; What is your opinion on optimizing using ideas (vs data) first?
01:03:50 - Question 5: Jacob; How do you feel about TF meets value investing?
01:08:30 - Question 6: Adrian;...
Transcript
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| 0:00.0 | You're about to join Jerry Parker, Maritz Siebert, and Nealz 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. |
| 0:15.1 | Welcome to the Systematic Investor podcast series. |
| 0:19.6 | Jerry Parker, Moritz Siebert, and I, Niels Kostra Larson, are back with this week's edition |
| 0:23.6 | of the Systematic Investor Series, where we continue our journey into the world of rules-based |
| 0:29.0 | investing and share our experience with you each week, hoping that you can find a few |
| 0:33.9 | golden nuggets to implement in your own investment journey. |
| 0:40.4 | And if you're tuning in for the first time today, welcome. |
| 0:45.4 | We love that you are here and we'll certainly do our best to inform and entertain you about systematic investing during the next hour or so. |
| 0:50.2 | As usual, let me start by saying good morning to you, Jerry, good afternoon to you, Mards. |
| 0:55.3 | Good afternoon, Neil's. Good morning, Jerry. Good morning. Good afternoon. |
| 0:58.6 | Yeah. Last week, we shared some of the latest iTunes review, by the way, that we had received. |
| 1:05.6 | So if you want to help us grow the show, we have made it really easy for all of you. |
| 1:11.7 | You just want to go to top traders on plot.com forward slash review. |
| 1:16.3 | And there you can see exactly what to do. |
| 1:18.5 | It should only take a minute or so. |
| 1:20.1 | But we highly appreciate your time. |
| 1:23.4 | Before we jump into all the details for this week, let's see what caught my eye. |
| 1:30.3 | Of course, you know, after a Wednesday where it was announced we had a big building crude oil supply |
| 1:37.3 | and also I think the WTO were lowering their trade growth forecast. |
| 1:42.3 | It was quite a tough week for the energy complex. Of course, |
| 1:46.3 | a little bit kind of ironic because only three weeks ago, many of the market participants |
| 1:51.7 | were fearing much, much higher prices after the attack in Saudi Arabia. And now we're sitting |
... |
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