Today, we welcome Katy Kaminski to the Systematic Investor Series, as we dive deep into trend following systems and how to overcome the unintended biases that can creep into CTA systems, why Katy believes everybody has to “go back to the drawing board”, why it is unrealistic to expect things to go back to “normal”, and why Katy believes we are not in a crisis but rather a correction. We also discuss how a crisis is in the eye of the beholder and shed light on the current global macro narrative. We round things off uncovering why Katy believes bonds are mispriced, why "simple" trend following strategies persist to thrive and much more.
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Episode TimeStamps:
01:16 - What has caught our attention recently?
03:43 - Industry performance update
06:06 - The challenge of bias in trend following systems
13:54 - Taking the bonds out?
16:22 - Advice on trading universal parameters
19:35 - Going back to normal - a fantasy?
23:35 - Trend following - a long divergence strategy
26:31 - Are we actually in a crisis?
32:05 - Are crises becoming shorter and shorter?
36:38 - How does Katy define a crisis?
37:40 - A different understanding of trend following?
40:32 - Are there different types of crises?
45:55 - A global macro perspective
51:38 - Are bonds mispriced?
55:37 - From predictable to unpredictable inflation
59:11 - Thanks for listening
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PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:
1. eBooks that cover key topics that you need to know about
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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