SI89: Trend Following EFTs and Asness vs Taleb ft. Rufus Rankin
Episode description
We’re joined by special guest, Rufus Rankin of Ampersand Investment Management, to discuss Trend Following ETFs, the definition of a truly diversified portfolio, flat-fees versus performance-based fees, how to choose between different managers, learning from Q1 2020, predicting CTA returns, and the recent public spat between Cliff Asness & Nassim Taleb. Questions we answer include: Are Trend Following CTAs seeing an increase in client interest after this year’s stock market crash? What non-USA or Europe markets are CTAs currently interested in?
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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
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Episode TimeStamps:
00:00 – Intro
01:26 – Macro recap from Niels
04:06 – Weekly review of performance
07:20 – Niels: How what was your journey into this industry?
08:57 – Niels: How did you end up allocating capital to CTAs?
10:05 – Niels: Do you view Trend Following as a philosophy?
12:50 – Niels: What are your thoughts about truly diversified portfolios?
17:28 – Moritz; If we can’t forecast CTA returns, do you think we should allocate capital to as many CTAs as possible?
20:02 – Niels: What percent of a whole portfolio would you recommend to Trend Following, and what would investors be comfortable with?
19:02 – Moritz; Do you only allocate to Trend Following CTAs?
22:41 – Moritz; Do you consider yourselves to be a ‘fund of funds’?
23:11 – Moritz; How do you handle client pressure surrounding double-layering of fees?
24:17 – Niels: Who do you think drives the demand for flat-fees, rather than...