Quantitative Insight with a Discretionary Edge

Published on
June 30th, 2017
Topic
Structural flows, US Economy, Hedge fund
Duration
53 minutes
Asset class
Equities, Real Estate, Bonds/Rates/Credit

Quantitative Insight with a Discretionary Edge

The Interview ·
Featuring Richard Excell

Published on: June 30th, 2017 • Duration: 53 minutes • Asset Class: Equities, Real Estate, Bonds/Rates/Credit • Topic: Structural flows, US Economy, Hedge fund

Richard Excell, Senior Portfolio Manager at Wolverine Asset Management, gives Michael Green a glimpse into his investment process, with an understanding that the fundamentals driving the market might not be the fundamentals you are paying attention to. Fusing quantitative insights, from ‘bots’ monitoring sector-focused portfolios, with his discretionary expertise, Rich gauges the motivation behind the passive money inflows dominating investment markets. Filmed on May 25, 2017, in Las Vegas.

Comments

  • KK
    Kevin K.
    3 July 2017 @ 13:24
    It would have been great for him to go into more detail on how he conducts his fundamental analysis.
  • VS
    Victor S. | Contributor
    3 July 2017 @ 13:15
    Very interesting discussion , but the answer to flat wages and thereby disinflation is answered by Govt trends to Socialism world wide. Tax increases see ACA and Climate change HOAX etc . People can't spend if they don"t have money?? You may wish to think about this more?
  • us
    ujjwal s.
    2 July 2017 @ 19:01
    Another great interview, love to hear more conversation on these lines. Thanks
  • DM
    Daniel M.
    2 July 2017 @ 16:58
    This is fantastic! Love the fresh ideas and the explanation of his process.
  • LC
    Liliana C.
    2 July 2017 @ 03:11
    The opportunities to profit are there if you listen carefully and extrapolate. Thankso to both interviewer and interviewee!
  • JH
    Jesse H.
    1 July 2017 @ 23:28
    Good interview, but again I believe it could be improved by the interviewer speaking a bit less. Mike Green is totally brilliant and an excellent commentator, but I would like to see him make it less of a conversation and more of an interview, drawing out the key insights from the interviewee and spending less time trying to discuss proprietary information (such as the 56-metric based approach), which really doesn't inform us of much, as Richard could not go into detail about his work in this regard. All up, though, still interesting and good interview.
  • CB
    CLAUDE B.
    1 July 2017 @ 23:01
    Ygffgyxygvygggxuhygy dugrTdj. J u b j
    • CA
      Christopher A.
      13 July 2017 @ 14:56
      i agree
  • AG
    Amir G.
    1 July 2017 @ 20:52
    This was one of those interviews where they cover a whole range of broad topics and after an hour of watching you ask yourself what the main point(s) of the discussion was.
    • TS
      Thomas S.
      5 July 2017 @ 23:36
      Didn't you hear him summarize the takeaways at the end? ....the incredible opportunity to combine the intelligence of quantitative management combined with the experience of discretionary management.
  • NH
    Neil H.
    1 July 2017 @ 17:35
    Great big picture thinking but I came away with no conclusions
  • BS
    Baldev S.
    1 July 2017 @ 12:57
    At least this time Michael focused on more probing questions this time instead of talking more than the person he's interviewing. I agree that his insight this time around was complementary to Rich's comments
  • MN
    Mark N.
    1 July 2017 @ 05:41
    I love the market anomalies they divulge. To me it wasn't clear what they did with these anomalies though; do they trade in the same direction as these anomalies as kind of a momentum approach or do they go against them, betting that the anomalies with will disappear in the long run as a value approach?
  • TR
    Thomas R.
    30 June 2017 @ 23:30
    Evaluating ETF inflows to their bias to determine what is going to move
  • LT
    Luis T.
    30 June 2017 @ 23:10
    Great interview and strong dynamics.
  • DS
    David S.
    30 June 2017 @ 19:01
    Taking undervalued companies private from Target to small corporations may be a better way to run a business – away from the micromanagement of Wall Street. The key question is how to develop long-term equity and debt investors in these businesses? DLS
  • KA
    Kristian A.
    30 June 2017 @ 18:02
    Michael Green is just great, on both sides of the interviews. Looking forward to a follow up to his last interview with Raoul.
  • dj
    daniel j.
    30 June 2017 @ 17:30
    This interviewer talks a lot.
    • RR
      Raghu R.
      1 July 2017 @ 00:11
      Thats cool though. I had no idea what L1, L2 & L3 are. There are times Michael catches those gaps..
    • MM
      Michael M.
      2 July 2017 @ 05:21
      Because he's more than "just" an interviewer. Which is a damn good thing.
    • AB
      Alain B.
      5 July 2017 @ 12:17
      Great dialogue, in my opinion.
  • HJ
    Harry J.
    30 June 2017 @ 16:21
    Mike green is the Neil DeGrass Tyson of finance! Love to watch his mind work. Excellent work as usual!
  • RM
    Richard M.
    30 June 2017 @ 14:46
    Excellent interview! Mike Green just asks such great questions and has such great observations - superb interviewer! And the interviewee was super smart too! Great job!
  • MM
    Michael M.
    30 June 2017 @ 14:43
    Great stuff, love Michael Green's stuff. Can someone explain the terms 'marginal buyer/seller' and 'at the margin' - for a a layperson?
    • JC
      John C.
      2 July 2017 @ 09:27
      I believe it is referencing the economic concept of consumer surplus. Essentially saying that the marginal buyer is the person willing to pay the most for something. The price is set by this person's maximum willingness to pay. Another way of looking at it would be that everyone has different perceptions of the value they are getting as a buyer or seller of a good or security at a given price. The person with the maximum willingness to pay drives prices to levels above the willingness to pay of other market participants.
    • MM
      Michael M.
      3 July 2017 @ 13:08
      thank you
  • Nv
    Nick v.
    30 June 2017 @ 12:35
    Absolutely excellent. Well done

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