MacroVoices #368 Charlie McElligott: Banking Crisis, FOMC, 0DTE, CTAs & more
Macro Voices
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The CTA Trend Is a Tail Hedge
Charlie Borsuk: It seems to me like the God of Markets have stopped being nice to trend followers. CTAs are very convex instruments with a lifespan of six and a half hours max, but by the end of the day they're either going to revert or expire worthless. The CTA trend is a phenomenal tail hedge because it can be kind of short, the kind of traditional bond stock, bonds is your hedge correlation.
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