In this engaging discussion, Gary Antonacci, a seasoned investment professional with over 50 years of experience, delves into dual momentum strategies. He explains how relative and absolute momentum can enhance traditional trend-following approaches, particularly in volatile markets. Gary shares lessons learned from the 2020 market crash, emphasizing adaptable strategies and the importance of empirical data in momentum investing. He also explores advanced trading strategies and the psychological barriers investors face, offering insights into optimizing portfolio performance.
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question_answer ANECDOTE
Early Career Spark
Gary Antonacci started his investment career as a broker in 1974 during tough market times.
He was inspired by a top producer's use of Mansfield stock charts with a 39-week moving average.
question_answer ANECDOTE
Learning from Trading Legends
Antonacci managed hedge funds allocating to legendary traders like Paul Tudor Jones and Richard Dennis.
Watching these traders shaped his understanding and inspired him to build his own models.
insights INSIGHT
Universality of Momentum
Momentum was first noted in 1937 but ignored until early 1990s academic research.
Momentum works universally across markets and assets, challenging efficient market hypothesis.
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Gary Antonacci's "Dual Momentum Investing" provides a comprehensive guide to momentum-based investment strategies. The book details the science behind dual momentum, combining relative strength and absolute momentum for superior risk-adjusted returns. Antonacci explores how this approach enhances traditional trend-following methods, offering practical applications for investors. The book emphasizes the importance of discipline and risk management in implementing these strategies. It serves as a valuable resource for both seasoned investors and those new to momentum investing.
Dow Theory for the 21st Century
Dow Theory for the 21st Century
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Jack Shonup
Jack Shonup's "Dow Theory for the 21st Century" offers a contemporary interpretation of the classic Dow Theory. The book updates the original principles to reflect modern market dynamics and technological advancements. Shonup provides practical applications of the theory, incorporating new indicators and analysis techniques. He explores the theory's relevance in today's complex financial landscape. The book is a valuable resource for investors seeking to understand and apply the Dow Theory in the 21st century.
How I Made $2,000,000 In The Stock Market
Nicolas Darvas
In this book, Nicolas Darvas recounts his journey from being a professional dancer to becoming a successful stock trader. He details his 'Box Theory' method, which involves identifying stock prices within specific 'boxes' and using stop-loss orders to manage risk. Darvas shares his experiences of developing this strategy while traveling and performing, and how it helped him achieve significant profits in the stock market. The book also addresses his incorporation of fundamental analysis and technical trading, making it a valuable resource for traders and investors[1][3][5].
Momentum remains one of the most persistent and powerful anomalies in financial markets. In this engaging fireside chat, recorded live at the West Coast Regional Summit in San Francisco, we sit down with Gary Antonacci, the renowned author of Dual Momentum Investing, to explore the evolution, application, and enduring effectiveness of momentum-based investment strategies.
Gary will share his insights on the science behind Dual Momentum, how it enhances traditional trend-following approaches, and the ways investors can apply these principles to achieve superior risk-adjusted returns. Whether you’re a practitioner of systematic investing, a trend-following enthusiast, or simply curious about momentum’s role in portfolio management, this conversation will offer valuable perspectives from one of the field’s leading experts.
Fill the Gap, hosted by David Lundgren, CMT, CFA and Tyler Wood, CMT brings veteran market analysts and money managers onto a monthly podcast.
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CMT Association is the global credentialing authority committed to advancing the discipline of technical analysis in the financial services industry. We serve members in over 137 countries. Our mission is to elevate investors mastery and skill in mitigating market risk and maximizing return in capital markets through a rigorous credentialing process, professional ethics, and continuous education. CMT Association formed in the late 1960s with headquarters in lower Manhattan, NY and Mumbai, India.
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