The Derivative A Multi PM (Global) Macro Masterclass with Markian Zyga
Attract Talent With Shared Platform Support
- Build a platform of shared services to let talented traders focus on trading instead of firm-building tasks.
- Offer operational, execution and data support to attract experienced managers who prefer to avoid business overhead.
First-Day Meetings That Shaped A Career
- On his first day, Markian met Peter Teal and Gill Bass and knew he was in the right industry.
- That day convinced him this career fit his curiosity for prediction and competition.
Validate Managers With Live Trading Data
- Do track live trading and build simple models to separate bad luck from true alpha when allocating to managers.
- Use both pre-investment diligence and continuous post-investment monitoring to validate convictions.
In this episode, we shed some light on one of the largest groups you’ve maybe never heard of, whose new “mission” is to seek out incredible trading talent and blend them together in a multi-PM Global Macro approach. We get into just how this all works, and more, in our chat with Markian Zyga, Portfolio Manager of Mission Crest, which is a subsidiary of Lighthouse Investment Partners who oversee about 14 billion in assets across their own hedge funds, solutions and services groups.
We begin by discussing Markian’s background and start in the investment world, his college soccer days, what allocators miss, and how to avoid falling for the narrative of a strategy. Digging in deeper we talk how, why, and when to allocate to Emerging managers, the fund of funds versus Multi PM models, the Mission Crest strategy, macro investors, this history of Global Macro, the current Global Macro environment, blending discretionary and systematic together, trading tactically on the shorter side of trade duration, capturing big macro trends, seeking out capacity constrained strategies and searching for Alpha in the markets they’re trading. But we don’t stop there... Markian explains Mission Crests’ Multi-PM model, how the process of finding top trading talent includes both trust and identifying an edge. Buckle up for an interesting discussion on their global macro approach to investing for absolute returns.
Chapters:
00:00-03:38= Intro
03:39-16:16= Striker to Strategist, and avoiding the Narratives
16:17-25:40= Emerging Managers & the Fund of Funds vs Multi PM Model
25:41-46:44= The Global Macro, all Assets, all Regions, Sustainable Edge Mission
46:45-01:00:46= Finding Attractive Talent, Gaining Trust, & Maintaining the Right Mental Space
01:00:47-01:12:59= Fixing the Great Trader/Terrible Business Person Conundrum
01:13:00-01:20:21= Accessing A.I., Model Degradation & Machine Learning
01:20:22-01:24:55= Favorites
For more information please visit lighthousepartners.com
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