TTU129: Trend Following Nordic Style ft. Svante Bergström, CEO & Founding Partner of LYNX Asset Management
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 6 February 2023
⏱️ 67 minutes
🧾️ Download transcript
Summary
Today, we are joined by Svante Bergström, Founding Partner and CEO of Lynx Asset Management, for a conversation on how they incorporate trend following in their trading strategy, through the use of a multi-strat approach. We discuss why they believe trend following will continue to work for the next hundred years and how they ensure a good balance between achieving a high Sharpe while maintaining the trend following profile, what they have learned from 2022 and how they used diversifying models and machine learning to profit in 2022, their process of finding new models and replacing the ones that do not work and why they are sceptical about the returns from CTA replication. We also discuss the number of markets they prefer to trade, how they manage risk and what you should pay attention to when evaluating managers, their approach to capacity and fees and their process of finding new talent in the industry, how they implement ESGs in their work and much more.
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Episode Timestamps:
02:18 - Introduction to LYNX
04:11 - How did they settle on trend following?
09:08 - A painful ride?
11:09 - Too focused on sharpe?
14:04 - What stood out in 2022?
16:17 - The dual mandate
18:10 - The benefits of diversifying strategies
20:08 - Why machine learning?
24:31 - The flipside of diversifying...
Transcript
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| 0:00.0 | We are in an environment where uncertainty is extremely high, and that's normally a good spot for a trend following. |
| 0:15.0 | But at the end of the day, we all know that the best environment for us is when something totally unexpected happened. |
| 0:23.6 | And I can't do a forecast of what that would be, but let's keep our fingers crossed that things happen, |
| 0:33.6 | and we'll try to make money out of that. |
| 0:36.6 | Imagine spending an hour with the world's greatest traders. and we'll try to make money out of that. |
| 0:41.2 | Imagine spending an hour with the world's greatest traders. |
| 0:45.7 | Imagine learning from their experiences, their successes, and their failures. |
| 0:47.7 | Imagine no more. |
| 0:54.1 | Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world, so you can take |
| 0:55.0 | your manager, due diligence, or investment career to the next level. |
| 0:59.2 | Before we begin today's conversation, remember to keep two things in mind. |
| 1:03.1 | All the discussion we'll have about investment performance is about the past, and past |
| 1:07.1 | performance does not guarantee or even infer anything about future performance. |
| 1:11.7 | Also understand that there's a significant risk of financial loss with all investment strategies, |
| 1:16.0 | and you need to request and understand the specific risks from the investment manager about their product |
| 1:21.4 | before you make investment decisions. |
| 1:23.8 | Here's your host, veteran hedge fund manager, Niels Kostrup Larson. |
| 1:33.4 | Hey everyone and welcome to another edition of Top Traders on Plot, where today, Alan |
| 1:37.6 | and I are joined by Sven DeBergstrom, co-founder and CEO at Links as part of our mini-series |
| 1:43.1 | focusing on the one investment strategy |
| 1:44.9 | that beat everything else in 2022, namely trend following and managed futures more broadly. |
| 1:51.3 | First off, Swente, it's great to have you on the podcast. Thanks so much for joining us today. |
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