Aubrey Basdeo: More Coupon, Less Duration
Insight is Capital™ Podcast
In this episode, our conversation with Aubrey Basdeo, Head of Fixed Income at Guardian Capital LP, we focus on the fixed income landscape and the outlook for interest rates in the US and Canada, the Federal Reserve's approach to inflation and interest rate cuts, as well as the differences between the US and Canadian economies, the impact of mortgage rates on consumer spending and the potential for rate cuts by the Bank of Canada. Overall, the conversation highlights the importance of maximizing optionality
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Doomberg Decodes: Pumpamentals, Market Riddles, Energy, Gold/China, Uranium & Canada
Insight is Capital™ Podcast
In this conversation, Doomberg (https://doomberg.substack.com/) joins Pierre and Mike to discuss various topics including Bitcoin, the parallel between Michael Saylor and Hugo Stinnes, speculative mania, the parallels in the borrowing strategy of Hugo Stinnes and Michael Saylor, pumpamentals driving distortions in the market and the flywheel effect, the geopolitical implications of the Russia-Ukraine conflict, the dangers of do-gooders and climate newspeak, and t
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Bill Bamber, BMO GAM CEO: "A generational shift in accessing structured investment payoffs"
Insight is Capital™ Podcast
This is one of the trickiest times in investing history marked by heightened uncertainty, distorted valuations, regime change and increased volatility in both equity and bond markets. For good reason, advisors have increasingly turned to shifting parts of the portfolios they manage away from traditional equity and bond assets in return for exposure to structured note and investment strategies that provide structured investing outcomes from those same asset categories.
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Vanguard's Mario Cianfarani: Three Challenges for 2024
Insight is Capital™ Podcast
This episode with guest Mario Cianfarani, Head of Distribution at Vanguard Canada kicks off delving into 2024's First Challenge: Bond yields and the importance of re-positioning cash for the long term given the likelihood of central banks shifting towards rate cuts in 2024.
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Fidelity's Ilan Kolet – 11 Questions for 2024
Insight is Capital™ Podcast
Ilan Kolet, Institutional Portfolio manager in Fidelity's Global Asset Allocation Team, joins us to discuss the most important questions he and his team mates, David Wolf and David Tulk have been fielding at the start of 2024. We delve into the unexpected shifts in monetary policy led by the Federal Reserve and mull over the repercussions of potential rate cuts on inflation volatility, weaving through the intricacies of the Fed's data-driven stance and 'pivot' toward a less restrictive monetary environment.
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John De Goey - Investing ahead of unknown market risks
Insight is Capital™ Podcast
John De Goey, Portfolio Manager and Investment Advisor at Designed Wealth Management joins us to discuss and explore the current investment landscape and the choices available to investors. He highlights the importance of managing risk and staying on the short end of the yield curve, for time being where fixed income is concerned. We also delve into the topics of optimism and pessimism, with a focus on the potential challenges and uncertainties in the market. We talk about the shifts in real estate markets,
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Fidelity's Ilan Kolet: 2024 Macro and Investment Outlook
Insight is Capital™ Podcast
Join us for this enlightening conversation with Ilan Kolet, Institutional Portfolio Manager, Global Asset Allocation Team, at Fidelity Investments, as we delve into the economic outlook for 2024. Kolet provides invaluable insight into the Canadian and US economies, the housing market, investment strategies, and inflation protection. We explore the impact of interest rates, consumer spending, and central bank policies on investments. Kolet's expe
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Dino Bourdos: Is the yield on your covered call fund too good?
Insight is Capital™ Podcast
In this insightful discussion, Dino Bourdos, Portfolio Manager & Head of Investment Solutions at Guardian Capital LP delves into the intricacies of investment strategies, particularly focusing on the use of derivatives, covered call strategies, and the impact of market dynamics on investment decisions. With his extensive experience in the field, Bourdos offers valuable insights into the challenges and opportunities in the current economic landscape, making this a must-watch for investors and financial p
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Deep Dive into Global Economic and Market Outlook, and AI's Role with Joaquin Kritz Lara
Insight is Capital™ Podcast
Join us in conversation with Joaquin Kritz Lara, Chief Economist at Numera Analytics, as we explore the intricate world of global economics and financial markets. Hosted by Pierre Daillie and Richard Laterman, the discussion delves into the nuances of macroeconometrics, the dynamics of inflation, and the complexities of investment strategies in today's volatile market.
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Michael Robbins: Ever seen a bad backtest?
Insight is Capital™ Podcast
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Join us for this insight-rich conversation with Michael Robbins, a distinguished figure in quantitative asset management. He is an author, thought leader, Professor of Graduate Studies in Quantitative Investing at Columbia University, and a sitting CIO. Our conversation focuses on quantitative trading, asset management, and financial modeling. Michael's recently published book, "Quantitative Asset Management," offers insights into the complexities and nuances of quantitative strategies. We delve deep into the intricacies of Global Tactical Asset Allocation (GTA) and explore the nuances of quantitative investment strategies.
HIGHLIGHTS
Understanding GTAA: We start by defining Global Tactical Asset Allocation and discussing effective approaches and potential pitfalls in employing this strategy.
[04:18] - Adam Butler discusses the unique challenges and advantages small investors face compared to large investors, emphasizing the benefit of portfolio agility for smaller investors.
Investment Strategy Insights: Michael Robbins shares his expertise on various aspects of investment strategies, including the importance of a fund's management team, the significance of qualitative factors, and the role of an advisor in making informed investment decisions.
Quantitative Strategies: We explore the realm of quantitative strategies, discussing hyperparameters, the impact of biases, and the importance of defining investment goals.
The Role of Machine Learning: Delve into the use of machine learning in finance, understanding overfitting, and the challenges of translating complex financial data into actionable strategies.
[24:20] - Pierre Daillie and Michael Robbins explore the concept of overfitting in algorithmic strategies and the skepticism surrounding backtesting, highlighting the importance of a solid theoretical foundation behind investment strategies.
[34:47] - The conversation shifts to the importance of qualitative factors in investment, such as the management team's experience and the terms of investment, which are crucial alongside performance metrics.
[26:58] - Michael Robbins emphasizes the need to eliminate luck and human bias from systematic investment programs, advocating for a more quantitative and systematic approach to investing.
[42:08] - Michael Robbins and Pierre Daillie discuss the often overlooked aspect of the personality and charisma of analytical experts in investment management, and how it affects investment decisions.
Practical Advice for Investors: Gain insights on what investors should look for in funds, the importance of diversification, and how to avoid common mistakes in quantitative investing.
[1:01:56] - The article concludes with a discussion on expanding investment horizons and differentiating oneself as an advisor by exploring unique investment strategies, as suggested by Michael Robbins.
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đź“š About Michael Robbins: Michael Robbins is an acclaimed author and expert in finance, Professor of Graduate Studies in Quantitative Investing at Columbia University in New York, and a sitting CIO. He is known for his deep understanding of quantitative strategies and asset allocation. His insights provide valuable guidance for both new and seasoned investors.
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Where to find Michael Robbins, CFA
Michael Robbins on Linkedin
Michael Robbins' book - Quantitative Asset Management
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