Flirting with Models
103 episodes - English - Latest episode: about 1 month ago - ★★★★★ - 215 ratingsFlirting with Models is the show that aims to pull back the curtain and meet the investors who research, design, develop, and manage quantitative investment strategies.
Join Corey Hoffstein, Chief Investment Officer of Newfound Research, on a journey to explore systematic investment strategies, ranging from value to momentum and merger arbitrage to managed futures.
For more on Newfound Research, visit www.thinknewfound.com.
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Episodes
LightSpringFox - Crypto Market Making (S5E2)
June 06, 2022 08:00 - 48 minutes - 33 MBIn a first for Flirting with Models, my guest this episode is anonymous, going only by the handle LightSpringFox on Twitter. Mr. Fox is a quantitative trader who works in crypto market making at MGNR. Mr. Fox did not begin his career in crypto, nor even in market making. Rather, his background is in traditional equity factor investing, and so we spend a good deal of comparing and contrasting the low- and high-frequency domains. We also discuss the nature of market making edges, the uni...
Michael Green - The Active Impact of Passive Investing (S5E1)
May 30, 2022 08:00 - 1 hour - 43.7 MBIn this episode I speak with Michael Green, Chief Strategist as Simplify ETFs. In a first for the Flirting with Models podcast, we recorded this episode live at the ETF Exchange in Miami in early April 2022. Given Michael’s eclectic background, our conversation is wide ranging. He has traded everything from small-cap value to commodities to housing derivatives to long volatility, and so we try to find the common elements and themes across his career. One that sticks out is his quote t...
David Berns - How do you build a portfolio for a human being? (S4E16)
August 16, 2021 14:00 - 46 minutes - 31.9 MBIn this episode I speak with David Berns, co-founder and CIO of Simplify ETFs and author of the book Modern Asset Allocation for Wealth Management. Our conversation centers around the idea of what it means to build a portfolio for a human being. This concept arises both technically and philosophically in David’s work, where he emphasizes the importance of higher return moments in portfolio optimization, but goes about achieving this end through more holistic risk preference analysis. David...
Russell Korgaonkar - Optimizing the Research Process (S4E15)
August 09, 2021 14:00 - 56 minutes - 38.4 MBToday I am speaking with Russell Korgaonkar, CIO of Man AHL. In his role, Russell oversees a large research organization and so we spend a large part of our conversation talking about research management. Russell provides his thoughts on topics such as determining which projects to take on, quantifying investments in technology, data, and people, how to avoid group think, and how to incentivize both researchers and reviewers. There is tremendous organizational alpha to be gleaned here. I...
Bryn Solomon - Exploiting Fat Finger Errors in Cryptopunks (S4E14)
August 02, 2021 10:00 - 1 hour - 41.7 MBBryn Solomon is the co-founder and CEO of MGNR, a quantitative cryptocurrency asset manager with arms in market making, discretionary trading, DeFi yield farming, and venture capital. Our conversation touches on all these arms, exploring their key differences from traditional markets, sources of edge and opportunity, and the risks unique to the cryptocurrency markets. A recurring theme within the conversation is how the pace of innovation in cryptocurrency presents both opportunities and...
Andrew Lapthorne - Thematic Baskets and Strong Balance Sheets (S4E13)
July 26, 2021 14:00 - 1 hour - 41.3 MBAndrew Lapthorne is the Head of Quantitative Equity Research at SocGen, a role he’s held for nearly 14 years. Given the breadth of topics covered by bank research, it should be no surprise that this conversation takes some wide swings as well. We discuss everything from thematic baskets to style premia and machine learning to ESG. One of my favorite parts of the conversation is when Andrew discusses his research into strong balance sheet names in U.S. small-cap equities. For all the dept...
Greg Obenshain - Quantitative Credit (S4E12)
July 19, 2021 14:00 - 53 minutes - 36.7 MBIn this episode I chat with Greg Obenshain, Partner and Director of Credit at Verdad Capital. Prior to joining Verdad, Greg worked as the high-yield portfolio manager at Apollo Global Management and Stone Tower Capital. Despite his background as a fundamental analyst, Greg is a quant convert. His ideas are still grounded in a strong fundamental understanding of what it means to invest in credit, but in a sector where even just acquiring data may be an edge, he lets the data speak for itsel...
Roxton McNeal - Liability-Driven Investing (S4E11)
July 12, 2021 14:00 - 1 hour - 42.5 MBIn this episode I speak with Roxton McNeal, Head of Multi Asset Investment Strategy & Allocation at the UPS Investment Trust. Before landing at UPS, Roxton’s career took him through the world of CTAs, developing hedge models for bonny light oil, and working in asset/liability management at General Motors. Each of these roles likely deserves its own podcast, but I do my best to pull a nugget of wisdom from each experience. Where we spend the bulk of the conversation is in Roxton’s current...
Vivek Viswanathan - Quant Equity in China (S4E10)
July 05, 2021 14:00 - 1 hour - 49.2 MBVivek Viswanathan is the Head of Research at Rayliant Global, a quantitative asset manager focused on generating alpha from investing in China and other inefficient emerging markets. Our conversation circles around three primary topics. The first is the features that make China a particularly attractive market for quantitative investing and some of the challenges that accompany it. The second is Vish’s transition from a factor-based perspective to an unconstrained, characteristic-driven on...
Tobias Carlisle - Realism Over Idealism in Value (S4E9)
June 28, 2021 15:37 - 1 hour - 53.5 MBMy guest this episode is Tobias Carlisle, author, podcast host, and founder of Acquirers Funds. Toby joined me in Season 1 where we discussed his background and overall investment philosophy. In this episode, we dive right into the well-documented woes of value investing. Rather than rehash the usual narratives, however, I wanted to get Toby’s views as to how this environment is unique. We spend time discussing relative versus absolute cheapness, the potentially arbitrary constraints of ...
Sam Trabucco - Perpetual Swaps, Liquidation Cascades, and the USD-BTC-YEN Triangle Trade (S4E8)
June 21, 2021 05:08 - 56 minutes - 38.5 MBIn this episode I speak with Sam Trabucco from Alameda Research. Alameda manages over $100mm in digital assets and trades between $600mm and $1.5bn per day. We begin our conversation with a discussion around the features that distinguish crypto markets from traditional markets. What becomes a recurring theme in the conversation is how decentralization and fragmentation present both an opportunity and a challenge. Sam provides some color into the easiest and hardest alpha he’s earned, inc...
Dennis Davitt - Markets Models (S4E7)
June 15, 2021 05:28 - 1 hour - 53.3 MBIn this episode I speak with Dennis Davitt, CEO of Millbank Dartmoor Portsmouth. Dennis began his career in the option pits of New York and Chicago and eventually worked his way to managing the equity derivatives desk for Credit Suisse. These experiences taught Dennis two important lessons. First, respect markets over models. Secondly, always ask: “what’s the motivation behind this transaction?” And for each of these lessons, Dennis offers a number of stories to entertain us. In 2013, De...
Dennis Davitt - Markets > Models (S4E7)
June 15, 2021 01:28 - 1 hour - 53 MBIn this episode I speak with Dennis Davitt, CEO of Millbank Dartmoor Portsmouth. Dennis began his career in the option pits of New York and Chicago and eventually worked his way to managing the equity derivatives desk for Credit Suisse. These experiences taught Dennis two important lessons. First, respect markets over models. Secondly, always ask: “what’s the motivation behind this transaction?” And for each of these lessons, Dennis offers a number of stories to entertain us. In 2013, De...
Angus Cameron - Trade Structuring: Systematizing a Hidden Edge (S4E6)
June 07, 2021 14:00 - 1 hour - 52.2 MBAngus Cameron is the Founder and CIO of Liminal Capital, a machine-learning focused investment manager. But Angus does not come to markets with a computer science PhD. Rather, his career arc took him through the prop desks and buyside of Asia, trading global fixed income, FX, equity markets, and arbitrage strategies on a discretionary basis. A machine-learning driven approach is a new endeavor, but one informed by the wisdom of experience. Angus would consider himself a quantitative trad...
Guillermo Roditi Dominguez - Path or Destination, Not Both (S4E5)
May 31, 2021 14:00 - 1 hour - 44.7 MBIn this episode I speak with Guillermo Roditi Dominguez, managing director at New River Investments. This was one of the more unique and wide-ranging conversations I have had on the podcast to date. We begin by discussing Guillermo’s approach to portfolio construction, which is heavily focused on the idea of under-writing risk. How he goes about achieving this, though, takes us from adjusted valuation measures to the positioning of large, systematic players and even to the importance of hi...
Tina Lindstrom - Commodity Volatility (S4E4)
May 24, 2021 14:00 - 38 minutes - 26.1 MBTina Lindstrom is a Partner at First NY, where she manages an oil volatility portfolio. She began her career at Susquehanna and eventually worked her way up to managing both the high cap equity index group and the commodity volatility group. This gives her the unique perspective to be able to compare and contrast how these two markets operate. Tina explains what makes commodity markets unique, how the structure of markets has changed over time, how relative value trades might emerge, and...
David Fauchier - Paranoid Crypto Cowboys (S4E3)
May 17, 2021 14:00 - 1 hour - 45.3 MBIn this episode I chat with David Fauchier of Nickel Digital Asset Management. At Nickel, David manages the Factors Fund, a multi-strategy, multi-manager fund for cryptocurrencies. We leave the philosophical discussions about crypto aside to dive into the features of this universe that make it rife with opportunity. What struck me most about this conversation was not just how much crypto markets have evolved in the past several years, but how fragmented they still remain. Different excha...
Darrin Johnson - Independently Shorting Volatility (S4E2)
May 10, 2021 14:00 - 1 hour - 48.9 MBDarrin Johnson is the first independent trader I’ve interviewed for this show and with that distinction he brings an entirely new perspective. After learning about how Darrin began his career as an independent trader, we get into the bulk of the conversation that circles around his process of shorting volatility in the S&P 500 complex, including options on futures, index options, VIX futures, and VIX ETPs. Darrin provides insights into how he plays certain tenors over others, why knowing w...
Cem Karsan - The Market Voting Machine (S4E1)
May 03, 2021 13:55 - 45 minutes - 31.1 MBMy guest this episode is Cem Karsan, Founder and Senior Managing Partner of Aegea Capital Management. Cem began his career in the pits, and so we begin our conversation with a discussion by comparing and contrasting today’s market versus days gone by. And, perhaps more importantly, the wisdom gained from that era. It was in the pits that Cem began to understand and develop his intuition for markets and what would become the colorful cast of characters he uses to describe what’s driving f...
Liquidity Cascades
September 20, 2020 22:50 - 1 hour - 45 MBIn this episode I am going to read Newfound’s latest research paper, LIQUIDITY CASCADES: The Coordinated Risk of Uncoordinated Market Participants. This reading will refer to a number of figures within the paper, so I urge you to go to our website, thinknewfound.com, and download the PDF so you get better follow along. This paper is unlike any research we've shared in the past. Within we dive into the circumstantial evidence surrounding the "weird" behavior many investors believe markets...
Kris Sidial - Long Volatility for the New Regime (S3E14)
September 08, 2020 06:07 - 1 hour - 51.1 MBMy guest this episode is Kris Sidial, co-CIO of The Ambrus Group, a volatility arbitrage focused firm founded in 2018. Kris recently joined Ambrus after spending several years on BMO’s exotic and listed options desks. While time on these desks gave Kris the experience of managing a large derivatives book, what convinced him to take the leap to a new firm was growing confidence in a thesis that market micro-structure had undergone a regime shift. And in Kris’s view, this regime shift suppor...
Cliff Asness - "...But Not So Open Your Mind Falls Out" (S3E13)
July 29, 2020 14:00 - 1 hour - 41.7 MB“Keep an open mind. But not so open your mind falls out.” My guest in this episode needs little introduction: Cliff Asness, co-founder and managing partner at AQR. Cliff has done dozens of interviews, podcasts, talks, and fireside chats over the years. He is also a prolific writer. So, my goal in this conversation was to try to find the questions he hadn’t been asked before or had not answered himself already. How did his formative experiences in the dotcom bubble shape his perception ...
Euan Sinclair - Positional Option Trading (S3E12)
July 27, 2020 14:00 - 1 hour - 42.3 MBToday I chat with Euan Sinclair, Partner at Talton Capital Management and author of the books Options Trading, Volatility Trading, and the up-coming Positional Option Trading. We begin our discussion with Euan’s experience as a market maker as I try to get a better understanding of what a market making operation really looks like from the inside and how it has changed over the last 15 years. Of particular interest to me, given how much market makers have been villianized in recent years, w...
Omer Cedar - Quant-Aware Discretionary (S3E11)
July 24, 2020 14:00 - 43 minutes - 30 MBToday I am speaking with Omer Cedar, CEO and co-founder of OmegaPoint. One of the significant trends in quant equity over the last decade has been the attempt to better control for unintended bets and idiosyncratic risks. At OmegaPoint, Omer comes at the problem from the opposite direction: helping fundamental managers better focus on their idiosyncratic risk and recognize the factor risks they may be unintentionally taking. We discuss how quantitative investors have impacted markets, ho...
Sandrine Ungari - Alternative Risk Premia (S3E10)
July 22, 2020 14:00 - 1 hour - 41.2 MBMy guest in this episode is Sandrine Ungari, Head of Cross-Asset Quantitative Research at SocGen. Sandrine cut her teeth in the industry as a fixed-income pricing quant, but made her way over to sell-side, investment quant research in 2006. Her early research focused on credit and macro, but since 2012 has been heavily focused on equity and alternative risk premia. Our conversation begins with equity factors and Sandrine provides insight both into how factor construction has evolved over...
Michael Hunstad - Institutional Trends in Factor Investing (S3E9)
July 20, 2020 14:00 - 1 hour - 43.1 MBIn this episode I speak with Dr. Michael Hunstad, Head of Quantitative Strategies at Northern Trust. Our conversation centers around the four key trends Michael is seeing among institutional allocators in the factor space today. These trends are (1) the adoption of factors to manage concentration risk in market-cap weighted benchmarks, (2) a move from single- to multi-factor implementations, (3) using factors to de-risk equity exposure, and (4) a tactical tilt towards value. But Michael ...
Mads Ingwar and Martin Oberhuber - Full Stack Machine Learning (S3E8)
July 17, 2020 14:00 - 55 minutes - 38.3 MBIn this episode I chat with Mads Ingwar and Martin Oberhuber, co-founders of Kvasir Technologies, a systematic hedge fund powered by a full-stack application of machine learning. By full-stack I mean every layer of the process, including data ingestion, signal generation, portfolio construction, and execution, which gives us a lot to talk about. Our conversation covers topics ranging from the limitations of machine learning and hard lessons learned to how to keep up in a rapidly evolving...
Eric Crittenden - All-Weather Portfolios with Trend Following (S3E7)
July 15, 2020 14:00 - 1 hour - 44.4 MBMy guest is Eric Crittenden, founder and Chief Investment Officer of Standpoint Funds. Eric has spent his career with trend following strategies, first at BlackStar where he managed a fund-of-funds, then at Longboard, and now at Standpoint Funds. This background makes him not only a fountain of knowledge on trend following theory, but also the operational logistics and practical considerations. In this episode our conversation ranges from the source of the trend-following premium to nove...
Jeffrey Baird - Commodity Convexity (S3E6)
July 13, 2020 14:00 - 1 hour - 41.8 MBIn this episode I speak with Jeffrey Baird, managing partner at Merritt Point Partners. Merritt Point Partners seeks to build diversified portfolios of convexity exposure through the commodities market. With that in mind, we talk about what makes the commodities market unique, who the players are, and the types of trades that Jeff looks for. Stepping somewhat outside of the theme for this podcast, Jeff actually employs a heavily fundamentals-driven process. But what fundamental means in ...
Dr. Ernest Chan - Tail Reaper (S3E5)
July 10, 2020 14:00 - 49 minutes - 34.1 MBMy guest in this episode is Dr. Ernest Chan, founder of QTS Capital Management. Investor, researcher, and educator, Ernie is well-known for his blog – which he has been publishing since 2006 – as well as the several books he has authored, including Quantitative Trading, Algorithmic Trading, and Machine Trading. Our conversation meets at the intersection of tail risk hedging and machine learning. Ernie has a long history with machine learning, having first applied it on Wall Street in the...
Jim Masturzo - Tactical Asset Allocation (S3E4)
July 08, 2020 14:00 - 54 minutes - 37.7 MBIn this episode I speak with Jim Masturzo, Head of Asset Allocation at Research Affiliates. In his role, Jim oversees the research and publication of the firm’s capital market assumptions as well as the implementation of those views into a suite of tactical portfolios. We begin our conversation discussing the foundational assumptions behind the capital market assumptions. Like most firms, Research Affiliates takes a long-term view on return and risk. In line with the firm’s guiding philo...
Dr. Benn Eifert - Bad Ideas (S3E3)
July 06, 2020 14:00 - 54 minutes - 37.7 MBToday I am speaking with Benn Eifert, founder and CIO of QVR Advisors. Benn is my first repeat guest on the podcast, making his first appearance in Season 2. When I asked listeners who they wanted on for Season 3, he was high on the list. In this episode, we take things in a bit of a different direction. Rather than a normal interview, I use this opportunity to ask Benn about his opinion on a number of different trade ideas, from covered calls to shorting VIX ETPs. Benn walks me through ...
Michael Krause - Evolving Long/Short Equity (S3E2)
July 03, 2020 14:00 - 1 hour - 47.3 MBIn this episode I am joined by Michael Krause, co-founder of Counterpoint Asset Management and Counterpoint Mutual Funds. Our conversation covers two major topics. In the first half, we discuss some of the nuances of high yield bond timing and the subtleties of strategy construction. In the second half, we discuss long/short equity strategies. For listeners more interested in the technical, this is where the meat and potatoes of the conversation lies. We discuss Michael’s evolution fr...
K.C. Hamann - Quantifying Conviction (S3E1)
July 01, 2020 14:00 - 1 hour - 48.8 MBMy guest today is K.C. Hamann, founder of AQIS LLC. K.C. is a Warren Buffett disciple and spent his first decade in the industry working as an analyst at discretionary, deep value long/short equity hedge funds. Which probably makes him sound like an odd guest for a podcast all about quantitative investing. K.C.’s experiences, however, lead him to identify a number of biases that he believes pollute the stock picking skills of discretionary analysts. And thinking of a hedge fund as a syst...
Corey Hoffstein - Rebalance Timing Luck (S2E11)
December 09, 2019 06:35 - 47 minutes - 32.8 MBMy guest today is … me. But rather than interview myself, my co-portfolio manager Nathan Faber joins the podcast to take the reigns. In this episode, we talk all things rebalance timing luck. It’s been an obsession of mine for years and something we believe to be a dramatically misunderstood and outright ignored source of risk in portfolios. We discuss how we first came across the topic, some recent research into it, important implications for the industry at large, and how we can try to...
Daniel Grioli - Thinking like a Fox (S2E1)
June 23, 2019 21:10 - 1 hour - 62.1 MBMy guest in this episode is Daniel Grioli. Daniel cut his teeth in the industry at Deutsche Bank in London, where he was responsible for valuing structured equity and hedge fund of fund products targeted at continental Europe. His timing of joining Deutsche, while perhaps somewhat unfortunate for him, proves fortunate for us as he retells a few war stories and lessons learned from the desk leading into 2008. During the crisis, Daniel found himself back in Australia working for a pension ...
Katherine Glass-Hardenbergh - All About Alternative Data (S2E9)
June 21, 2019 00:27 - 50 minutes - 34.5 MBIn this episode I am joined by Katherine Glass-Hardenbergh, Associate Portfolio Manager at Acadian Asset Management. In her role, Katherine focuses heavily on the application of alternative data in Acadian’s fundamentally-driven, systematic investment process. Purported as being one of the leading frontiers of quant finance, there is plenty of hype around alternative data. Katherine brings refreshing transparency to our conversation, speaking just as candidly about the hurdles in al...
Chris Meredith – Building a Robust Research Platform (S2E10)
June 21, 2019 00:21 - 1 hour - 44.6 MBChris Meredith is co-Chief Investment Officer and Director of Research at O’Shaughnessy Asset Management. In this episode, we focus on the latter title and talk all about what it means to develop a strong research program. Our conversation centers around what Chris considers to be the three key pillars: data, tools, and people. Chris provides insight into how data sets have changed since the beginning of his career, starting with highly structured price and fundamental data to so-call...
Liqian Ren - In Search of Modern Alpha (S2E8)
June 17, 2019 21:10 - 1 hour - 47.6 MBIn this episode I am joined by Liqian Ren, Director of Modern Alpha at WisdomTree. After receiving her degree in Computer Science, Liqian came to the United States to pursue her Masters in Economics. Liqian then did a quick stint at the Federal Bank of Chicago as an associate economist, before returning back to academia to pursue her PhD at the University of Chicago. In 2007, Liqian joined Vanguard’s Investment Strategy Group, where she leveraged her background to perform economic and c...
Wayne Himelsein - The Quant Philosopher (S2E7)
June 17, 2019 21:06 - 1 hour - 52.1 MBIn this episode I chat with Wayne Himelsein, president and chief investment officer at Logica Capital. To our conversation Wayne brings over two decades of experience managing long/short portfolios, ranging from statistical arbitrage to factor long/shorts. For as deep in the weeds as he liked to go as a quant, Wayne has a philosopher’s streak and Twitter is his soapbox. Of course, 280 characters can be limiting, so I start out conversation by putting Wayne in the hot seat and ask him to ...
Jason Thomson - The Growth Factor (S2E6)
June 11, 2019 16:10 - 1 hour - 53.5 MBMy guest in this episode is Jason Thomson, a portfolio manager at the William O’Neil family office. On paper, Jason doesn’t seem like a particularly good fit for this podcast. He runs a highly concentrated discretionary portfolio of growth equity names. He can be levered long, net short, or completely out of the market all at his discretion. What becomes rapidly apparent is that while Jason has ultimate discretion, he adheres closely to a disciplined, rules-based process driven by the ...
Artur Sepp - Conditional Beta (S2E5)
June 08, 2019 17:41 - 1 hour - 51 MBMy guest is Artur Sepp, Director of Research at Quantica Capital AG in Zurich. In 2008, Artur was working on structured credit products for Merrill Lynch, giving him a front-row seat to the ensuing credit crisis. We use this experience as a jumping off point for our conversation, with Artur providing both pragmatic and philosophical lessons learned. One of those key lessons was the role of liquidity, which Artur argues is the key factor behind many premia we see in the market. Artur’s...
Tammira Philippe and Elena Khoziaeva - It's all Greek to Me (S2E4)
June 04, 2019 18:20 - 1 hour - 65.1 MBIn this episode, I am joined by Tammira Philipe and Elena Khoziaeva, both of Bridgeway Capital Management, a quantitative asset manager founded in 1993 offering systematically managed equity strategies. But that’s not how Tammira or Elena would describe it. And that’s what this episode is all about: communication in the realm of quant. As President and CEO of Bridgeway Tammira provides us with a perspective of why effective communication is so important for building an enduring asse...
Ben McMillan - Attack of the Liquid Alternative Clones (S2E3)
May 30, 2019 18:39 - 1 hour - 64.3 MBIn this episode I chat with Ben McMillan, a founding partner of IDX Insights, a firm offering "indexing as a service." Ben cut his teeth in manager analysis at a fund-of-hedge-funds and we spend a considerable amount of time discussing how this experience impacted his research in building hedge fund replication strategies. As it turns out, a naive replication strategy is very easy to implement. A robust one, however, is deceptively difficult. One of the most interesting insights I glean...
Benn Eifert - Volatility Investing (S2E2)
May 30, 2019 04:13 - 1 hour - 46.3 MBI am joined today by Benn Eifert, founder of QVR Advisors. QVR specializes in managing option-based strategies and Benn describes what he does as volatility investing. We quickly wade into the deep end with this one. Benn schools me on relative value investing and dismisses my favored mental model of style premia for what he prefers to call “the Star Wars framework.” We chat about volatility ETPs, their impact on the volatility landscape, and how the market has changed since February 2...
Liquidity Premium with Adam Butler (S1E8)
October 17, 2018 19:34 - 1 hour - 48.8 MBIn this episode, I sit down with good friend Adam Butler, Chief Investment Officer of ReSolve Asset Management. Rather than take the usual interview style, we thought it would be fun to just sit down at a bar without an agenda and just record the stuff we would have been talking about anyway. With drinks in hand, we dive into a conversation that covers topics ranging from machine learning to analytical derivations of the correlation between trend following signals to the role of defensive...
John Alberg - The Man in the Machine (Learning) (S1E7)
July 08, 2018 23:21 - 50 minutes - 34.3 MB"How do you come to a rational conclusion as to what a company is worth?" A seemingly simple question with little-to-no clear answer. For John Alberg, a background in computer science and a passion for machine learning led him to view the problem through the lens of data. "If it is true that you can use publicly available information to buy companies for less than their economic worth," he thought, "then you should be able to see it in the data." And thus was born Euclidean, an investm...
Jack Vogel - Momentum in Theory, Momentum in Practice (S1E6)
June 26, 2018 19:19 - 1 hour - 47.3 MBToday I am speaking with Jack Vogel, co-CIO of boutique ETF issuer Alpha Architect. I’ve known Jack for some time now and was particularly excited to bring him on the show for two reasons. The first, which you will quickly learn in the episode, is his near encyclopedic knowledge of investing literature. I’ve met few investors who have both the breadth and depth of recall that he does for both academic and practitioner studies. The second was because he helps manage a momentum strategy. ...
JD Gardner - "Win Bigger Than You Lose" (S1E5)
June 26, 2018 19:18 - 53 minutes - 36.6 MBIn this episode, I am joined by JD Gardner, founder and managing member at Aptus Capital. In his time in the industry, JD has served in the role of associate financial advisor, analyst to a deep-value equity fund, and analyst at short-term, systematic, managed-futures fund. These varying experiences have mixed to culminate into JD's ultimate philosophy: it's all about the investor's return, not the investment return. I like to say, "No pain, no premium" as pithy shorthand for the not...
Meb Faber - "Just Survive" (S1E4)
June 26, 2018 19:18 - 1 hour - 43.2 MBMy guest, this episode, likely needs little introduction. His paper, a Quantitative Approach to Tactical Asset Allocation is the highest ranked paper on SSRN with over 200,000 downloads at the point of recording. But Meb Faber’s interests go far beyond tactical asset allocation. His work over the last decade-plus – from his blog to his podcast to the books he has authored – spans broad topics such as shareholder yield, global value, hard asset alternatives, risk parity, and angel inves...