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16 results for “operator investing”
And so what we think the combined solution does is by shifting everything kinda up towards the equity market as its base, and then being able to overweight or underweight based on trend, we think could be a product that can add more incremental retur
16:32 / 17:41
from transcript16:32 – 17:41
emerging market hedge funds typically have a huge long bias. They're less liquid, and they have higher fees. That is not logical as an investor. Why am I paying all this extra in terms of liquidity and fee for something that is essentially a long onl
33:46 / 34:45
from transcript33:46 – 34:45
That's totally reasonable strategy, but that is a very, very difficult in client strategy because what the in client sees is, one, trades happening. And second is they expect you to be right and not even, like, fifty fifty right, probably, like, 80%
17:21 / 18:23
from transcript17:21 – 18:23
And quite honestly, it's a very long term forecast and they they evolve pretty slowly for us. What are the buckets of the strategies that you use in your in your approach? At the top level, we believe that strategies fall into two main categories. Th
25:31 / 26:33
from transcript25:31 – 26:33
So you have at least twenty years of good data to give you some sense of how these businesses have done in that period. Now, obviously, the next would be worse. Now we spend our lives trying to understand this. What are the only ways you can deal wit
53:11 / 54:17
from transcript53:11 – 54:17
From our perspective, we build returns, expected returns for each of those strategies and we don't think there's some sort of magical, mystical, uncorrelated beast. If you think equities are going to return 7.5%, if you're a long short equity manager
24:43 / 25:51
from transcript24:43 – 25:51
you make more money in a high vol environment, but you lose money in the move from a low vol environment to a high vol environment. As you've extended risk capital to the market and now the cost of risk capital has gone up, you're gonna lose on mark
44:51 / 46:06
from transcript44:51 – 46:06
And it's often hard to distinguish who's actually good and has a repeatable process and edge for someone who might have gotten lucky one day and got a call on the euro right, and they're sort of riding that for a decade. So the thing that we think is
55:18 / 56:35
from transcript55:18 – 56:35
if you have patience in a strategy that's like this, they tend to revert. They tend to be cyclical. And so there is a premium to being patient with strategies and not just picking, you know, those at the bottom of the list and saying, okay. Well, tha
10:36 / 11:36
from transcript10:36 – 11:36
are bringing. You can certainly look in the rearview mirror and you can't argue with the historical performance. You know, it's excellent both on an absolute and risk adjusted basis, but our job as investors is really to think prospectively both abou
44:58 / 46:14
from transcript44:58 – 46:14
is because after o eight and o '9, everyone was looking for, hey. What could I have done to avoid this? Say, ah, trend following. That's what I could have done. And so trend following is a strategy that people are drawn to traditionally to reduce vol
24:05 / 25:05
from transcript24:05 – 25:05
So it's purely market neutral, and it is market. It's flat on the air. But we are looking for cross asset, idiosyncratic opportunities in the vol space. And I think coming out of this crisis, it's gonna be a very target rich environment for a strateg
26:14 / 27:19
from transcript26:14 – 27:19
If you look at the real risk in their portfolio, it's probably 90% driven by equities, and it comes in all sorts of different forms, private equity, public equity, credit. You end up with portfolios that there's just one risk factor, which is equitie
18:02 / 19:07
from transcript18:02 – 19:07
If you actually have a set of people who are very lowly color correlated with each other and you put them together, you lever them up, you can have a very good business. So to your question is, like, the answer is you gotta be disciplined. You gotta
42:42 / 43:53
from transcript42:42 – 43:53
being aware of other CTA returns and what they're doing combined with sort of risk management and priors for trend systems or trend strategies gives you lower tracking error compared to a typical index. So if you're looking for something beta like, i
33:05 / 34:08
from transcript33:05 – 34:08
If you have a good long term relationship and you're a large allocator of capital, we get a lot of information to make a very, very good decision. I think if you're just trying to do it on your own, you have no shot. Yep. It sounds like you're trying
32:11 / 33:21
from transcript32:11 – 33:21
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