SI96: How RobinHood really makes its profits ft. Moritz Seibert

Top Traders Unplugged

Niels Kaastrup-Larsen

Business, Business News, Investing, News

4.8 • 670 Ratings

🗓️ 13 July 2020

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today’s episode, we discuss the clear link between stock market prices & the Federal Reserve balance sheet, the widening gap between the best & worst CTA performances, the influx of retail money into the stock market, how RobinHood makes its profits despite offering free trading, bond prices and what they may be telling us about the future, how CTAs might now be swinging back to the long side, and how lofty expectations are driving many stock prices unexpectedly higher. If you would like to leave us a voicemail to play on the show, you can do so here. Learn more about the Trend Barometer here. IT's TRUE - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here. And you can get a free copy of my latest book "The Many Flavors of Trend Following" here. Send your questions to [email protected] Follow Niels & Moritz on Twitter: @TopTradersLive, and @MoritzSeibert, And please share this episode with a like-minded friend and leave an honest rating & review on iTunes so more people can discover the podcast. Episode Summary 0:00 - Intro 1:21 - Global macro review 2:42 - Weekly review of returns 5:15 - How lofty expectations are driving stock market prices 8:25 - What bond markets are telling us about the long prospects for equities 13:13 - Why we may be heading for an inflationary environment 19:05 - How CTA positioning is beginning to swing to the long side of equities 21:20 - Article on downside protection by Mark Zepczynski 28:29 - Article on high CTA returns dispersion by Mark Zepczynski 30:23 - Unveiling of guests, & more info, about our upcoming mini-series 44:47 - Performance recap Subscribe on:

Transcript

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0:00.0	You're about to join Jerry Parker, Maritz Siebert, and Nealz Kostrup 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.
0:22.6	Welcome or welcome back to this week's edition of the Systematic Investor series
0:26.3	with Moritz Sieber and I, Niels Karst Blasen, where each week we take the pulse of the global
0:31.3	market through the lens of a rules-based investor.
0:35.1	If this is the first time we meet, our hope is that today's episode will trigger your
0:39.3	curiosity to check out the back catalog of all the episodes we have produced and you may
0:44.3	have missed.
0:45.3	And for those of you who are regular listeners, and if you appreciate the content we produce,
0:50.5	we would be grateful if you would go to iTunes and leave a rating and review as they actually
0:55.5	matter more for the iTunes algorithm than you can imagine and it helps other people to discover
1:00.8	the podcast. Moritz, how are you doing this Saturday afternoon?
1:06.3	Howdy, howdy, Niels? I'm doing fine. How are you? Doing very well. The sun is back here in
1:10.8	Denmark. At least today.
1:12.5	It has been pretty much raining all week. So today is a good day.
1:16.8	Wow. Quite opposite here. We had a sunny week and now it's raining.
1:21.7	In terms of sort of a quick review of the week, I mean, I know you and I are going to say probably many times today that this
1:27.8	was probably one of the most boring weeks we've seen in the markets for a long time, but I did
1:33.0	pick up that, you know, if you look at the Fed's balance sheet, the expansion has paused for a while
1:39.3	now. The total balance sheet fell actually slightly for the fourth consecutive week
1:45.0	to about 6.9 trillion down 60 billion from a week ago
1:49.7	and about 200 billion from June 10 high.
	...

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