Top Traders Unplugged SI362: The Alpha Most Systems Miss ft. Yoav Git
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Aug 23, 2025 Yoav Git, a specialist in systematic trading, joins the chat to dissect the complexities of curve trading and market structure. He reveals how dislocations across time horizons can unveil alpha missed by common models. The conversation highlights the significance of breakout behaviors in commodity spreads, linking them to broader market dynamics. Git also expounds on a Bank of England study, illustrating the unique footprints left by various FX market participants and how CTAs actively respond to shifting market regimes rather than being merely passive. It's an insightful journey into advanced trading strategies.
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Comedian Debut As A Personal Challenge
- Yoav describes preparing a stand-up comedy set and performing publicly for the first time at the Fringe.
- He uses the experience to illustrate doing uncomfortable things as personal challenges.
Curve Risk Differs By Maturity
- Commodity curves behave differently across expiries because liquidity, supply/demand and transient news hit specific maturities.
- Trading spreads reveals dislocations other models miss and can offer uncorrelated alpha when treated as transient risk factors.
Wait For Volatility Before Sizing Spreads
- Wait for genuine volatility before sizing spread trades to avoid massive leverage and blow-ups.
- Enter spreads after a breakout when residual volatility justifies a tradable position and then size dynamically.