

Charles McGarraugh - "Change in the Market is Accelerating" (S7E1)
86 snips Dec 4, 2023
Charles McGarraugh, CIO of Altis Partners, discusses their investment stack, comprising an upstream signal layer and a downstream strategy layer. They explore the benefits and drawbacks of this design, the operation of the signal layer, the need for adaptiveness in a rapidly changing world, integrating alternative data in market prediction, portfolio construction and risk management, and their fascination with asset duration and expectations formation.
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Nonlinear Career Path
- Charles McGarraugh's career began at Goldman Sachs, spanning various roles from asset-backed securities to commodities trading.
- He later ventured into machine learning-driven sports betting and cryptocurrency markets before joining Altis Partners.
Switching Asset Classes
- Switching asset classes takes approximately two years to reach proficiency.
- Mentorship and continuous learning are crucial for navigating this transition.
Market Structure Complexity
- OTC markets often involve complex products but simpler market structures, while liquid markets have simpler products but more complex structures.
- This difference requires a shift in mindset from thematic, relative-value focus to time-series predictions and trade sizing.