Top Traders Unplugged

SI281: More Markets = Better Performance? ft. Mark Rzepczynski

10 snips
Feb 3, 2024
Mark Rzepczynski reflects on the first month of 2024, discussing the impact of misinformation on the global economy. Topics include using price as the only data input, the role of speed in trend following, and the importance of a manager's 'personality'. They also dive into principal component analysis and the factors that drive trend following performance. New research suggests that trading more markets may produce better returns, highlighting the importance of diversification.
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INSIGHT

Market Prices over Predictions

  • Wall Street predictions are often wrong by the year's end, so follow market prices instead.
  • Prices reflect current market realities more accurately than forecasts.
INSIGHT

Misinformation Risk

  • The World Economic Forum's top risk is misinformation, impacting quantitative models.
  • Focus on price data, as it's determined by market forces and less susceptible to distortion.
INSIGHT

Price vs. Fundamentals

  • Price-driven models are observational, while fundamental data introduces prediction.
  • The link between fundamentals and prices isn't always causal, posing challenges for macro managers.
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