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Animal Spirits Podcast

Talk Your Book: Compounding Machine

Animal Spirits Podcast

The Compound

Business News, News, Investing, Business

4.72.1K Ratings

🗓️ 2 October 2023

⏱️ 37 minutes

🧾️ Download transcript

Summary

Description: On today's show, we spoke with Eric Crittenden, CIO of Standpoint Asset Management to discuss: The creation and use of trend following, market changes over time, understanding what investors need vs. what they want, utilizing a mutual fund wrapper instead of an ETF, and much more! Learn more with the Monthly Update: https://www.standpointfunds.com/monthly-update and https://www.standpointfunds.com/ Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.   Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed.   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Today's animal spirits is brought to you by standpoint asset management on today's show

0:05.4

Ben and I spoke with Eric Quintetin who's

0:08.1

Who's been around for a while does some great research?

0:10.5

You might have heard of my meb favors podcast a few times. He's a really smart guy

0:14.9

They talk a lot about systematic trend following all weather investing

0:20.1

Why it works? We spoke briefly about this, but I just wanted to

0:25.6

Enhanced in a double click on it because it was pretty modest about the returns, but

0:29.3

Pest performance obviously, etc., etc. No guarantee you did a double click thing. I did. Yeah. Sorry. Sorry. Now I'm a podcaster now. It's official

0:38.9

This all weather strategy that they run

0:41.9

completely missed

0:43.4

And he sort of draw down missed in a good way

0:46.2

Very little draw down during the during the pandemic

0:49.1

Very little drawdown in 2022 when stocks and bonds got cloud-bird and the reason why I'm harping on this is because it's not like he got lucky with guessing

0:57.0

Now maybe there was some, you know, fortunate circumstances, whatever whatever

1:00.8

But it's not that he made a market call right? That's not that's not what they're about

1:03.8

That's not what trend following is he has a model and of course it ebbs and flows good times bad times, but

1:09.6

Man time he's everything and this thing has absolutely destroyed in a good way since inception at the end of 2019

1:15.3

And you and I looked at a ton of alternative

1:18.0

funds in the 2010s and a lot of them had a really really bad decade in you would wonder like

1:26.4

How the stock market did find the bond market did okay the stock market was lights out

1:31.0

How is it how are all these funds missing completely on

1:34.6

Like the one big trend and it's hard really hard for an alternative

...

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