TTU19: How to Take the Emotions out of Investment Decisions ft. Roman Lutz of Future Value Capital – 1of2
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 4 August 2014
⏱️ 63 minutes
🧾️ Download transcript
Summary
Can you implement well established hedge fund strategies in a systematic way?
Future Value Capital has been researching this for years, before they started trading. They are unique because of how they simplify and automate complex Risk Premia.
But we aren’t the best at explaining their systems. Roman Lutz, the Chief Financial Officer of Future Value Capital will explain it all in this interview.
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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
In This Episode, You’ll Learn:
- About Merger Arbitrage and How investors can Profit
- What criteria they look for in mergers, such as Market Cap, Deal Size, Liquidity etc.
- What currency markets Future Value Capital enters
- The app. 15 strategies they use and how many sub strategies they may have
- The origin stories of where the Future Value Capital strategy derived from.
- Understanding the typical way to build a derivative business
- Why the average correlation of a hedge fund with equities has shifted from 0.6 to 0.9 from the 1990’s to today.
- How Scottish Whiskey tasting can kickstart long term business relationships
- Addressing the “Black Box” label that many systematic programs has
- What environment Future Value Capital’s systems are best suited to operate within
- The business structure of Future Venture Capital and the alliance with Trium Capital
- About the post Madoff and additional regulatory environment investors are operating in
- How Roman Lutz developed the shared business management and split the overhead cost with other emerging fund managers
- The negative side effects of sharing hedge fund management business practices with other firms
- A ballpark figure for the cost of being part of the Trium Manager Alliance and get the services required to be able to operate as a regulated and well run firm
- How Roman and partners develop new plans in regards to where the economy is going and how to develop plans to manage funds going forward
- How merger arbitrage and volatility arbitrage connect implied and realized volatility
- How to buy realized volatility
- When to deploy and when not to deploy the realized volatility trades (when volatility starts to trend)
- Main categories from a strategy point of view – Trend Following for example
- How Future Value Capital uses trend following
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Resources & Links Mentioned in this Episode:
Listen to the past episode with Marty Bergen from Dunn Capital mentioned in regards to the higher correlation between traditional alternative investment space and the traditional assets.
Lars Jaeger owner of Alternative Beta Partners – Wrote extensively about the lack of alpha to people hunting it. 4x more assets are looking for alpha than alpha is available in the market.
Listen to our previous guest Karsten Schroeder from Amplitude Capital on the value of systematic trading vs. discretionary
Learn more about the determining implied market volatility with VIX
Follow Niels on Twitter,
Transcript
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| 0:00.0 | You're listening to Top Traders on Plot, episode number 019, will Roman Lutz managing partner of future value capital? |
| 0:09.8 | This episode is sponsored by Saxo Bank and Swiss Financial Services. |
| 0:15.0 | Imagine spending an hour with the world's greatest traders. |
| 0:18.6 | Imagine learning from their experiences, their successes, |
| 0:21.4 | and their failures. Imagine no more. Welcome to Top Traders Unplugged, the place |
| 0:27.5 | where you can learn from the best hedge fund managers in the world so you can take |
| 0:31.4 | your manager due diligence or investment career to the next level. Here's your host, veteran hedge |
| 0:37.1 | fund manager, Niels Kastrop Larson. |
| 0:43.3 | Welcome to another episode of Top Traders Unplocked. |
| 0:51.4 | Thanks so much for tuning in today. |
| 0:53.9 | I know how valuable your time is, so I appreciate |
| 0:57.2 | you spending some of it here. On today's show, I'm talking to Roman Lutz, managing partner of |
| 1:05.4 | future value capital. His interest in global macro trading and whiskey let him to meet and team up with his |
| 1:14.0 | business partner Walter Distasso and today they are part of a new trend in the hedge fund space. |
| 1:22.6 | This trend involves establishing their business as part of a bigger hedge fund alliance platform, |
| 1:29.9 | which allows them to focus on what they love the most. |
| 1:34.7 | Research and Trading |
| 1:36.3 | Seated by a pension fund in 2013, they continue to evolve their risk premier trading program, |
| 1:45.1 | which tries to capture many different alternative return streams. |
| 1:51.1 | And for those of you who are new to the show, |
| 1:54.4 | I just want to let you know that you can find all of the show notes, |
| 1:58.5 | including a full transcript of today's episode on the top |
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