TTU Trend Barometer
— Full details
How to Master Managed Futures
— Get the eBook

Allocator

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Mark on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:30 – Introduction to Mark Haefele
05:13 – Behind the scenes of Haefele's job
06:46 – The key takeaways from Haefele's book
09:01 – The difference between managing your wealth and managing your investment
11:16 – How has the investing world changed over the years?
14:50 – Is now a culmination of previous crises?
16:58 – The 5 structural trends of the global economy and how it relates to government spending
19:58 – How they apply the 5 structural trends in a broad sense
22:19 – The most important thing you can do for your portfolio
24:09 – Big problems are big money
25:08 – A historical perspective of the economy
27:43 – Are we moving into an era of greater economic intervention?
30:11 – Was Covid19 the beginning of a new era for inflation?
34:07 – Why private markets are crucial for your portfolio
37:39 – Tips to avoid investing on trends that are peaking
42:41 – Overcoming the behavioural challenges as an investor
47:04 – Half of the battle is mental
49:55 – Advice to become a great investor
52:16 – Understanding your relationship to money
54:31 – Practical ideas for investing with ESG
57:25 – Haefele's perspective on US international relationships
01:00:15 – Key advice for other investors

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Amy on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “10 Reasons to Add Trend Following to Your Portfolio” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

03:02 – Introduction to Amy Flikerski
08:02 – How they think about manager selection
09:28 – How do they categorize their strategies?
11:40 – How they assess their investment objective
13:07 – How they manage risk
14:29 – How the global macro environment affects them
15:41 – How they manage a billion dollar portfolio
17:11 – How the hedge fund industry have evolved
19:13 – Is there a place for multi-manager pods?
20:47 – A war for talent
22:34 – How they approach internal vs external management
26:34 – How is their team set up?
28:48 – What are they looking for when assessing managers?
30:54 – Making allocation to emerging managers
33:10 – What characterize their managers?
34:48 – Assessing the scalability of a strategy
37:29 – What makes a good allocator
39:23 – Advice for independant hedge funds
41:40 – What types of early stage managers do they look out for?
42:55 – How they approach their portfolio construction
45:25 – How they manage fund constraints
46:48 – What is their typical ticket size?
47:31 – Reaching the right level of transparency
49:46 – Characteristics of a succesful discretionary manager
51:14 – Managing drawdowns
52:56 – Their decision-making process
55:58 – How they approach commodities
57:33 – Advice for other managers
01:00:18 – Advice for people coming into the industry

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow John on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:37 – Introduction to John Jackson
05:40 – A changed environment for hedge funds?
08:42 – Best strategies for a high rates environment
11:50 – Are clients stuck in the past?
13:40 – A framework for building hedge fund allocations
18:13 – More art than science
19:15 – Define your objectives clearly
20:51 – A multi-strat dominance – pros and cons
25:14 – Getting comfort in your hedge fund strategies
28:32 – How to incorporate diversifying strategies in your portfolio
30:48 – How Jackson approaches return expectations
33:13 – Typical number of managers
34:00 – The role of hedge funds
35:44 – Their process of selecting managers
38:56 – What makes an opportunity compelling to them?
43:28 – How they trade in the systematic space
45:10 – Quant managers – are they any different?
47:08 – AI and machine learning in the quant space
49:25 – How important is transparency?
50:54 – Their process of deselecting and changing their manager roster
54:07 – Identifying talents in the manager space
56:18 – How much capital is needed to launch a macro fund?
57:52 – The pros and cons of committees
01:00:21 – Getting through the committee

01:02:12 – Advice for other investors

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Richard on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:45 – Introduction to Richard Urwin
06:31 – A noticeable shift?
08:49 – What is Saranac's investment philosophy?
13:06 – Dealing with structural shifts as an asset allocator
18:07 – How confident are they in forecasts?
24:24 – Balancing competing forces
30:08 – How Saranac builds balanced portfolios
33:55 – Do they consider supply shocks in their portfolios?
40:00 – The dangers of pessimism
44:27 – Their approach to alternative assets and strategies
48:38 – Their perspective on high-risk managers
51:15 – Their manager selection process
55:06 – How does the current environment dictate investing?
58:13 – About Urwin's PhD on option pricing
01:02:40 – Advice for other allocators
01:05:16 – Thanks for listening

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Tad on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:34 – Introduction to Tad Fallows
12:38 – The risk appetite of Long Angle investors
15:45 – What defines the Long Angle community?
19:52 – Why not the traditional route?
23:14 – How are they allocated?
27:20 – How they incorporate private equity in their portfolio
35:02 – How much of their returns are resilient to changes in global macro?
40:18 – Micro or macro?
45:08 – Taking advantage of inefficiencies in markets
47:04 – Why are they staying away from hedge funds?
49:32 – Why are they using trend following?
52:24 – Their thoughts on crypto
56:29 – Generating ideas and finding priorities
01:01:29 – Advice for other investors
01:07:05 – Thanks for listening

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Christophe on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:50 – Introduction to Christophe L'Ahelec
07:06 – A new initiative
10:01 – What kind of strategy drives their asset allocation?
12:40 – What goes into which bucket?
14:45 – What makes absolute return exposure more attractive at the moment?
16:31 – Constructing an absolute return portfolio
18:38 – How they approach trend following
21:58 – Why do they use leverage?
23:32 – What do they expect from their portfolio?
25:12 – Managing liabilities
27:58 – Public equities – where do they stand?
30:59 – Investing in niche strategie
34:11 – How they evaluate managers
36:21 – Open to early stage manager risk?
41:42 – What makes a manager stand out?
44:56 – When should you remove a manager?
46:47 – What is their governance process?
50:36 – How they make decisions as a team
52:20 – Advice for new investors
55:34 – Thanks for listening

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Peter on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:56 – Introduction to Peter Madsen and his firm
06:54 – How is their portfolio charactarized?
09:16 – Their investment philosophy
14:33 – A skepticism about equities?
17:04 – How do the macro environment influence them?
21:23 – What is reasonable return expectation for equities?
25:19 – Splitting between public and private markets
28:20 – Where lies the most risk?
30:25 – Opportunities in the private credit space
33:21 – Building a strong defense
38:29 – Why don't more people invest?
40:41 – Madsen's view on CTAs and Global Macro
45:51 – The pitfalls of manager selection
49:29 – How important is performance?
51:39 – Constructing an efficient decision-making process
56:24 – Guiding and assessing a team of managers
59:55 – Advice for other investors

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Casey on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:45 – Introduction to Casey Clark
07:02 – How do Rockefeller Capital Management manage their assets?
10:01 – What is their investment philosophy?
12:04 – Who are their clients?
12:45 – How do they build their strategies?
14:24 – How are they setting themselves up for mega trends like AI
16:55 – What is driving the ETF growth?
17:32 – Their approach to evaluating managers
21:49 – Having the right benchmark
24:34 – What makes a good investment process?
26:08 – How do they come up with new ideas?
30:13 – Investing with ESG in mind
34:30 – A constraint or opportunity?
36:56 – Are we approaching a changing investment environment?
41:55 – How mega trends will shape the macro landscape
50:36 – A shift in the 60/40 portfolio?
54:17 – Is there a place for alternatives?

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Joe on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:46 – Introduction to Joe Prendergast
04:50 – Prendergast's learnings from working at Credit Suisse
07:00 – What types of portfolios are Prendergast running?
09:49 – Prendergast's investment philosophy
13:59 – How has 2022 changed the asset allocation space?
16:32 – Could we have another 2022?
18:56 – Having metrics for success
26:50 – Managing cash flow
31:43 – Shooting for a higher return
39:33 – Dealing with bumps on the road
43:48 – Prendergast's experience with the hedge fund industry
46:29 – Working as a Europe based FX investor
51:10 – Balancing attractive earnings capabilities vs a higher valuation starting point
55:13 – How Prendergast incorporates ESGs in his allocation
59:46 – Advice for other investors

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow David on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:42 – Introduction to David Kelly
05:44 – What has become of the recession?
08:38 – Are we missing an accident?
11:09 – Why is the saving rate in the U.S. so low?
13:29 – Is this cycle unusual compared to the past?
14:52 – Are central bankers becoming arrogant?
17:15 – What happened to the bond market?
19:31 – High debt and high deficit – a new normal?
21:48 – Kelly's outlook for the next decade
23:42 – Inflation in the U.S.
27:29 – A new equilibrium
30:14 – Discussing inflation on a global scale
33:35 – The state of the asset allocation environment
35:37 – Should you look beyond the 60/40 portfolio?
39:04 – The magnificent seven
40:50 – A political mess
44:51 – How will Artificial Intelligence impact the economy?
47:55 – Managing the labour shortage
50:13 – An all-time high misery
51:36 – A discontent with the economy
53:50 – An outlook of the political landscape
56:14 – How does the shifting demographics impact the economy?
57:57 – Is an aging population disinflationary?
59:07 – Advice for investors
01:01:34 – Thanks for listening

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Matt on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:54 – Introduction to Matt Smith
07:51 – The resilience of the economy
11:50 – Matt's portfolio construction process
16:23 – Skepticism about the goldilocks
21:57 – The outlook for inflation
30:56 – The risk and fear of structural inflation
40:27 – What we can learn from history
46:19 – The process of finding insights from history
51:09 – Matt's perspective on financial repression
54:57 – Advice for other investors

by

Follow Niels on Twitter, LinkedIn and YouTube.

Follow Alan on Twitter.

Follow Troy on LinkedIn.

IT's TRUE 👀 – most CIO's read 50+ books each year – get your copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.

Learn more about the Trend Barometer here.

And please share this episode with a like-minded friend and leave an honest rating & review on iTunes or Spotify so more people can discover the podcast.

Episode TimeStamps:

02:44 – Introduction to Troy Gayeski
11:36 – A top-down macro perspective
19:43 – The state of the 60/40 portfolio
26:37 – How do investors react to the interest rate?
30:47 – Analyzing the alt space
35:50 – Advice for allocating to real estate
40:00 – An overweight of privates?
44:02 – A mockdown in valuations – an unfolding process or mostly done?
46:30 – Opportunities and positioning in the liquid space
52:42 – Building a diversified liquid alts portfolio
55:09 – Is old school global macro still viable?
57:15 – Troy's perspective on AI tools
01:00:25 – Advice for other investors
01:02:54 – Thanks for listening