Avoiding Losses with a Systematic Approach to Active Management — Live with Michael Gayed

Published on
November 20th, 2020
Duration
57 minutes


Avoiding Losses with a Systematic Approach to Active Management — Live with Michael Gayed

Live ·
Featuring Michael Gayed

Published on: November 20th, 2020 • Duration: 57 minutes

Michael Gayed, author of the Lead-Lag Report and portfolio manager of ATAC’s $ATACX mutual funds and their new ETF $RORO, has spent years developing robust systematic models to determine "risk-on" and "risk-off" tendencies in markets. While most managers are focused on delivering outperformance by finding the next big macro trade or growth company set to provide them with outsized returns, Gayed has been focused on figuring out how avoid drawdowns so that one can actually underperform in bull markets and still outperform in the long term. In this interview with Max Wiethe, Gayed will delve into the models he uses to avoid drawdowns, the historical evidence and back testing to support those models, and the larger issues surrounding why the obvious but often ignored idea that avoiding losses is the key to compounding is so hard to sell in a world focused on "what have you done for me lately?"

Comments

Transcript

  • DR
    David R.
    30 November 2020 @ 01:25
    Michael, one of my favorite. It was great again. Thanks for sharing those perspectives!
  • RY
    Roy Y.
    29 November 2020 @ 18:00
    Excellent -- listening to this interview after reading his 'research' repot makes a lot of sense. Thank you!
  • RM
    Richard M.
    25 November 2020 @ 15:34
    Great interview. Michael has given me a lot to think about with the indicators he talked about. Will be interesting to watch the performance difference between his old ATACX fund vs the new RORO etf.
  • JC
    Juan C.
    24 November 2020 @ 22:59
    Can you guys share Michael´s white paper?
    • EH
      Eric H.
      25 November 2020 @ 04:12
      You can see it here: https://www.naaim.org/wp-content/uploads/2020/11/2020-F_Winner_Actively-Using-Passive-Sectors-to-Generate-Alpha-Using-the-VIXupdated.pdf
  • PG
    Philippe G.
    24 November 2020 @ 18:46
    Fantastic - appreciate Michael's thesis walkthrough/delivery style
  • RG
    Rob G.
    24 November 2020 @ 08:17
    Really like the way Michael looks at his trading approach. I've spent the last 18months building a suite of non-correlated trading systems for all the reasons that he talks about. You can't predict the future, people hit the brakes after the car accident etc. Great to get validation of this approach.
  • AP
    Alistair P.
    24 November 2020 @ 07:48
    A decent and coherent piece, well led by Max. Definitely some valuable takeaways from this discussion with Michael. As an aside, quite refreshing given the level of fluff out there at the moment.
  • JA
    Jordan A.
    24 November 2020 @ 01:11
    I remember the last time you guys talked Michael said "crash is coming yo" and he nailed it. This guy is great always enjoy his commentary.