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Mike Harris, a seasoned expert in quantitative hedge funds, shares insights from his journey in the industry. He discusses the intricacies of trend-following strategies in commodity trading and the challenges posed by the overcrowded quant equity space. Harris dives into statistical arbitrage and its risks in volatile markets, while also exploring the evolving role of AI in trading. He highlights the importance of adaptability and vigilant risk management in navigating today’s complex financial landscape.
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Quick takeaways
- Mike Harris emphasizes the effectiveness of Quest Hedge Fund's short-term trading strategy, characterized by rapid response to market volatility and capturing momentum.
- The podcast discusses the risks associated with overcrowded statistical arbitrage strategies in quant trading, highlighting potential systematic risks during simultaneous unwinding events.
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Background and Career in Quantitative Investing
The speaker discusses his extensive career in the quantitative investment space, beginning with his role at Morgan Stanley, where he was responsible for allocating to various quantitative and macro funds. His interest in trading and investment strategies deepened as he conducted due diligence on portfolio managers, leading him to transition to a more active trading role at Campbell & Company, where he became president. His journey encompasses valuable insights gained over 25 years, including working with ultra-high-net-worth families at a multifamily office before taking on the presidency at Quest Partners, a $2.5 billion short-term quantitative hedge fund known for its fast-paced trading strategies. Through his experiences, he has developed a keen understanding of data-driven investment approaches and their evolution within the financial landscape.
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