Episode description
Episode description
Welcome to Part 2 of our conversation with Managed Futures expert and President Mike Harris of Campbell & Company. In this episode we delve into the specifics of Campbell & Company’s trading programs, how models are added or removed, and the importance of risk management. This episode also explores the managed futures industry as a whole and is a must-hear for anyone looking to gain knowledge about this strategy.
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In This Episode, You’ll Learn:
- About Campbell & Company’s trading program.
- How they create a trading strategy.
- Why they use a hypothesis driven system to add new models to their programs.
- About the peer review process they use before adding or subtracting models.
- When do you remove a model? How do you know when it isn’t working anymore?
- About position sizing and why its important.
- How they look at risk through something called Vertical Risk and Horizontal risk.
- Campbell’s systematic approach to risk management.
- How he deals with drawdowns.
- Why he worries about systemic risk and natural disasters.
- Why Mike thinks redundancies are so important.
- The risk of regulation.
- How these strategies tend to perform when interest rates go up.
- The trend of the managed futures industry and why it has been dominated by European firms in the past 10 years.
- What people need to become a successful manager: humility is “at the top of the list.”
- Books that Mike recommends.
- What he would do differently if he could talk to his younger self.
- The importance of managing work and life balance.
- What the future looks like for Campbell & Company.
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Resources & Links Mentioned in this Episode:
- Learn more about Baltimore and Johns Hopkins University.
- Hedge Fund Market Wizards by Jack Schwager
- Technical Analysis of the Futures Markets by John Murphy
- Trend Following with Managed Futures
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