In Part 2 of the Takahe Capital conversation, Moritz Seibert and Moritz Heiden move from philosophy into the operational details of how the firm builds and manages its strategies. Heiden discusses the in-house trading and backtesting platform that Takahe built from scratch, explaining why controlling your own technology infrastructure matters: it allows you to test exactly what you trade, with no gaps between the logic in the code and the execution in the market.
The episode covers Takahe’s two standalone programmes and how they are combined in the firm’s Global Quantitative Fund. The combination is not simply additive. The two strategies interact in ways that create a more diversified overall return profile, with exposures that are complementary across different market conditions. The conversation also examines cross-market spreads and synthetic markets as research directions, and why the firm consistently finds itself gravitating back toward simpler, more robust approaches.
A recurring theme across both Takahe episodes is the danger of abandoning a strategy at the worst possible moment. Both partners are explicit: the discipline of staying systematic through a difficult period is not just about following rules. It reflects a genuine conviction, built through rigorous testing, that the approach has positive expected value over time. That conviction is not available to you unless the research process was honest and thorough from the beginning.
Related reading: Read: The Regime Shift: Recognising Transition in Real Time