Market averages are not what they appear to be. The standard framing presents average market returns as a benchmark against which active strategies should be measured: beat the average and you have demonstrated edge, fall short and you...
Most market participants approach financial markets as forecasting problems. If the direction of the next move can be estimated with sufficient accuracy, the rest follows. Diversified systematic trend followers take a structurally different position: the market’s direction cannot be...
Simon and I really enjoyed this episode of The Algorithmic Advantage where we had a chance to interview Dr Tom Starke. Here we explore Tom’s approach in his quest to find thousands of uncorrelated mini alphas which can be compiled...
In this second part of our TTU year end special, we continue our conversation by discussing the challenge of defining non-trend strategies and the criteria for a good backtest, whether trend followers can afford to stand still in terms of...
Join us for part 1 of this special edition of Systematic Investor, where we are joined by all of our wonderful co-hosts for a group conversation. In this first part, we take a look back on 2023 and discuss how...
In this insightful second episode with Horizon3, Sanj and Paul delve into the complexities of systematic trading and the evolving landscape of the financial markets. The discussion kicks off with a critical look at traditional trading dogmas, emphasizing the importance...
Well we thought we would end the year on a high note. This time Simon and I had the great pleasure to talk with Sanjeev Lakhanpal and Dr Paul Netherwood from Horizon3 Investment Management LLP, where we were introduced to...
It’s important to temper our expectations as traders, recognizing that while markets are efficient, they’re not totally efficient. We must engage with a clear view and realistic goals. Markets are adept enough to mislead those unprepared, seemingly offering the...
The Central Limit Theorem is one of the most powerful results in probability theory. It is also one of the most routinely misapplied tools in financial risk management. Understanding why requires examining not the mathematics of the theorem itself,...
Well, for those that were unable to attend, we did say that we would record the amazing event we had in Sydney in November where we showcased a bit of Turtle Magic. We hope you enjoy it. Many thanks to...
