Alternative Fund Insight Ep 30 - Christian Dery, head of macro strategy at CFM, on why all roads lead to fiscal in 2025
Discover the 25 most influential global hedge fund allocators: https://alternativefundinsight.com/power25-hedge-fund-allocator-ranking-2024/
In episode 6 of the second series of the AFI podcast, host Will Wainewright is joined by Christian Dery, head of macro strategy at CFM, the Paris-based firm - one of the ten largest quantitative hedge fund managers in the world: https://alternativefundinsight.com/power-list-quant-hedge-fund-top-10-in-2024/
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Release date: 19 January 2025 (recorded on 9 January 2025)
*No part of this audio constitutes investment advice. Past performance does not guarantee future returns*
1:50 - Introduction to CFM and Dery's career background
6:20 - How his macro role works with quant engine of firm
7:58 - His macro outlook - and why all roads lead to fiscal in 2025
10:37 - Will the Trump-induced market changes last? Dery discusses the sequencing. The tariffs will be a substitute for tax cuts.
18:40 - Importance of following Musk actions - how different does that make it for macro watchers?
21:45 - Alternative data a big driver for their firm.
24:27 - How tariffs will drive opportunities in different asset classes.
29:57 - Will Trump changes lead to an inflation comeback this year?
32:07 - Will Musk's DOGE counter the inflationary impact? Could Europe learn from some of tactics in the years ahead?
36:04 - What about Argentina's Milei, lessons for Europe?
39:50 - Bond investors limiting wiggle room, e.g. in UK?
41:26 - Equity market outlook.
45:57 - Practical use cases of how the macro feeds CFM trading.
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