In today’s episode, Richard Brennan takes us on a tour around the Australian economy and how the investment landscape is changing. We also discuss how different investment philosophies demand different interpretations and why the “one size fits all” approach does not exist, how cross-sectional momentum differs from absolute momentum. Lastly, we discuss why Richard uses an ensemble of trend following systems and why he always strives for maximum diversification, and why I feel we should not introduce divisiveness in the trend following industry and much more.
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Episode TimeStamps:
01:04 - What is happening in Australia at the moment?
07:53 - The investment landscape is changing
09:57 - Best UCITS Managed Futures Fund revealed
13:17 - Industry performance update
16:25 - Why does OJ keep rising?
19:54 - There is no "one size fits all" approaches
26:44 - How does cross-sectional momentum work?
31:12 - The importance of correlation
40:26 - Nuancing "treating all markets equally"
48:00 - The use of continuous signals
53:03 - How does absolute momentum works?
59:13 - Discussing sample size
01:01:30 - The principle of no selection bias
01:04:16 - Why Rich uses traditional risk measures
01:06:56 - Letting profits run to their conclusion
01:08:03 - Single asset level risk vs portfolio level risk
01:08:59 - Releasing the risk steam
01:10:37 - Using simple models
01:13:46 - Trend following - not so black and white?
01:22:45 - Thanks for hanging in there
01:24:11 - What's up for next week?
Copyright © 2023 – CMC AG – All Rights Reserved
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PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:
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In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here
2. Daily Trend Barometer and Market Score
One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here
3. Other Resources that can help you
And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here
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GM20: Bitcoin & The Great Power Shift ft. Nathaniel Whittemore
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GM18: Boomers, Tax & Deflation ft. Alfonso Peccatiello & Andreas Steno Larsen
SI195: Trend Following 101 ft. Richard Brennan
GM17: Elon Musk...From Showman to Charlatan ft. Grant Williams
SI194: Trend Following & Manager Selection ft. Alan Dunne
GM16: Central Banking in a De-Globalized World ft. Joseph Wang
SI193: Nothing But Trend Following ft. Jerry Parker
GM15: The New World Order & Space Race ft. Pippa Malmgren
SI192: Knowing What You Don't Know ft. Mark Rzepczinsky
GM14: The Dark Side of Renewable Energy ft. Adam Rozencwajg
SI191: The Flash Crash & Central Banks Screwing Up ft. Richard Brennan
GM13: The Decline of the Dollar & Prepping for the Worst ft. Izabella Kaminska
SI190: Overthinking the Systematic Investment Game ft. Rob Carver
GM12: WW3 is just the beginning ft. Peter Zeihan
SI189: A New Era for Currencies ft. Alan Dunne
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