Bob Elliott: Hedge Fund Replication and Strategies for a Complicated Decade

Описание: #ReSolveRiffs
This week we had the pleasure of speaking with Bob Elliot (who can be found on Twitter @BobEUnlimited), CIO at Unlimited, a new investment firm that launched a hedge fund replication strategy in ETF format. Our conversation included:
Bob’s career and especially his years at Bridgewater Associates
The synergies between macro research and systematic investing
Systems that create discipline and leverage (the non-financial kind)
A better sense-making process within an investment framework
Why most intuitions are inaccurate
Identifying inconsistencies between one’s framework and new data
How the signaling power and precision of any variable can change over time
Dealing with the scarcity of macro data points within a systematic approach
Why there is no such thing as a single most important variable in macro investing
No certainty, just a probabilistic range of outcomes
Why diversification is one of the fundamental laws of asset management
The importance of maximizing the number of independent bets in low signal-to-noise domains
Why the starting point for Bob’s personal portfolio is Risk Parity
The folly of singularly focusing on the S&P500
Avoid going “all-in” into any single scenario, no matter how compelling the narrative
And so much more

This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.

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*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association ("NFA"). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.