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Top Traders Round Table – Solarz | Duncan | Wood #06

“I think people lose sight of the fact that hedge funds have done a very good job over the last 15 years.” – Adam Duncan (Tweet)

We are back with another great episode of Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed Futures. On this episode my guests are Chris Solarz, Managing Director, Global Macro Hedge Fund Strategies at Cliffwater, Adam Duncan, Managing Director at Cambridge Associates as well as Freeman Wood, who is a Partner and Head of North America, at Mercer.

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In This Episode, You’ll Learn:

  • If there are there enough assets to go around
  • What made 2015 such a weak year for hedge funds
  • Why 2016 was such a strong year for hedge funds
  • The future of hedge fund investing
  • What Chris thinks hedge fund managers have done poorly
  • How Adam looks at fees as a coin toss
  • Why Freeman thinks that fees must add value to both parties
  • The guest’s biggest takeaways from 2016
  • How the rise of the voter is providing opportunities to hedge fund managers
  • The coming possibility of an equity correction, and it’s effects
  • The question everyone should be asking right now
  • Why a client needs a goal and a timeline for their assets
  • The views expressed in this program are solely those of the host and speakers in their individual capacity and they do not necessarily reflect the views of the program’s sponsors or the entities with which any of the participants are affiliated. The contents of this program are for informational and educational purposes only. They do not constitute and should not be considered legal, tax, investment advice or a solicitation of the sale or purchase of any futures, options or swaps contracts.

This episode was sponsored by CME Group:

Connect with our guests:

 

Learn more about Chris Solarz and Cliffwater

Learn more about Adam Duncan and Cambridge Associates

Learn more about Freeman Wood and Mercer

“I think some of the high performance culture is contributing to a lack or unwillingness to take risk.” – Adam Duncan – (Tweet)

4 Comments

  1. Jim Beam on 04/13/2017 at 8:31 PM

    I like most episodes. these guys are worthless. Proof that most consultants aren’t worth anything.

    • Niels Kaastrup-Larsen on 05/09/2017 at 8:06 AM

      I think it highlights the challenge of they feel is the right thing to do…such as allocation a high percentage to Trend Following…but they simply can’t get their clients to do it…but I think a lot of people share your sentiment

  2. James T. Kirk on 04/15/2018 at 4:09 PM

    It is quite challening listening to these three consultants as a hedge fund manager as much of what they saying is simply nonsense.

    – “Hedge fund managers get paid big bucks to generate big returns” – No, they don’t. They get paid to generate uncorrelated, positive returns.
    – “Distressed debt paid us handsomely over the last 13 years”. This is not a hedge fund strategy. There is no hedge in distressed debt. It’s a highly speculative long-only position.
    – “Hedge fund managers missed the central bank puts and might have been too hedged” – It is amazing that these consultants believe that hedge fund managers have or should have crystal balls. Wasn’t the last financial crisis sufficient evidence that forecasting does not work and should not be expected?
    – “We have 1,000 hedge managers on our managers list” – It is not credible that these 1,000 hedge managers offer strategies that are unique and not proxies of each other.

    I’m a great fan of the show, but disappointing to see that these three consultants, which yield considerable fiduciary power, have so little true understanding of hedge funds and their purpose.

    • Niels Kaastrup-Larsen on 04/15/2018 at 4:31 PM

      Hey James…I agree with some of your observations…but of course all guests are entitled to their opinions, even if we may not agree. But to get them to openly voice these opinions allow us to access their role in the industry and perhaps better understand the thinking behind where the money is invested…which again allow us to take action and get our voices heard. Thanks for the feedback.

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