Wayne Himelsein - Negative Skew, Ergodicity and Thoughtful Diversification

Описание: Episode 6 - Negative Skew, Ergodicity and Thoughtful Diversification

In this episode, we chat with Wayne Himelsein, president and chief investment officer at Logica Capital. Wayne has spent over two decades managing long/short portfolios and so brings a wealth of experience to the conversation.

We talk with Wayne about a concept called negative skew and how it leads many investors to underestimate the risk in their portfolio (as well as what investors can do to protect against it).

We dived into the concept of ergodicity, an idea that I initially discovered through Nassim Taleb but that has become a very valuable mental model for me for looking at both markets and life in general.

We dove into the pitfalls of diversification and how many investors engage in anive rather than what Wayne calls thoughtful diversification as well as why you only need to be right 54% of the time.

You can find more of Wayne on Twitter (@WayneHimelsein).

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Futures and options trading involves a substantial risk of loss. You should therefore carefully consider whether such trading is appropriate for you in light of your financial condition. Unless distinctly noted otherwise, the data and graphs included herein are intended to be mere examples and exhibits of the topic discussed, are for educational and illustrative purposes only, and do not represent trading in actual accounts. Opinions expressed are that of the author. The mention of specific asset class performance (i.e. S&P +3.2%, -4.6%) is based on the noted source index (i.e. S&P 500 Index, etc.), and investors should take care to understand that any index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.

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