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EssentialThe Essential Conversation

Roy Niederhoffer: One Million Trades, Zero Regrets

Featuring Roy Niederhoffer and Jason Buck

Dec 22, 2020 • 99 minutes

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Essential

The Essential Conversation

Roy Niederhoffer: One Million Trades, Zero Regrets

Roy Niederhoffer joins Jason Buck to share the lessons Niederhoffer learned during his fruitful career as a systematic trader and portfolio manager.

Featuring Roy Niederhoffer and Jason Buck

Dec 22, 2020 • 99 minutes

Roy Niederhoffer, president of R. G. Niederhoffer Capital Management, joins Jason Buck of The Mutiny Fund to share the lessons Niederhoffer learned during his fruitful career as a systematic trader and portfolio manager. Niederhoffer tells Buck about his journey from being a high school entrepreneur to a trader at his brother's firm to then developing his own systematic trading algorithms and ultimately starting his own firm, R. G. Niederhoffer. Using vivid examples from financial crises such as "Black Monday" in 1987, 9/11, and the 2008 Great Financial Crisis, Niederhoffer discusses the advantages of systematic trading as a way to avoid behavioral traps that humans fall into. Niederhoffer provides insights on the nuances of risk parity, particularly the waning correlation between stocks and bonds, before sharing with Buck his views on monetary debasement, inflation, and Bitcoin. Filmed on December 15, 2020. Key Learnings: Negatively correlated assets are crucial to hold as they reduce volatility within a portfolio. Systematic trading (as opposed to discretionary trading) is an effective way to exploit emotional foibles of other market participants and not fall victim to your own. The negative correlations between stocks and bond prices is not an unmoving axiom of financial law, but rather a feature of the last four decades which may no longer be true. Show More

The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

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