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013: Hedge fund manager Andreas Clenow discusses cash vs risk allocation, position rebalancing and why traditional trend following doesn't work in stocks.
Andreas Clenow is a hedge fund manager who specialises in developing and trading quantitative strategies across all asset classes.
Before joining the hedge fund world by establishing his own hedge fund he maintained Global Head positions at Reuters and Equis International.
He is the author of two books, the first being international best seller 'Following the Trend' and the second 'Stocks on the Move' has just been released.
In this episode Andreas talks about trend following in stocks, why traditional approaches don't work and what you can do to account for this. We also talk about trading concepts, cash vs risk allocation, position rebalancing and building robust strategies.
Topics discussed- The origins of trend following and why a traditional trend following approach doesn't work on stocks
- Why it's a bad idea to think in terms of cash allocation and the solution
- Position rebalancing, why, how and when
- How hedge funds look at position sizing compared to retail traders
- Why pyramiding positions doesn't make sense
- How to get a more realistic understanding of performance results than just a backtest report can provide
- How a random number generator can beat the mutual funds
- How to ensure you strategies are robust and not curve-fit
- Handling large losses or periods of drawdown
- The role of critical thinking in trading
Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.
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By Andrew Swanscott chats with professional traders Larry Williams, Ernest Cha
4.8
260260 ratings
Andreas Clenow is a hedge fund manager who specialises in developing and trading quantitative strategies across all asset classes.
Before joining the hedge fund world by establishing his own hedge fund he maintained Global Head positions at Reuters and Equis International.
He is the author of two books, the first being international best seller 'Following the Trend' and the second 'Stocks on the Move' has just been released.
In this episode Andreas talks about trend following in stocks, why traditional approaches don't work and what you can do to account for this. We also talk about trading concepts, cash vs risk allocation, position rebalancing and building robust strategies.
Topics discussed- The origins of trend following and why a traditional trend following approach doesn't work on stocks
- Why it's a bad idea to think in terms of cash allocation and the solution
- Position rebalancing, why, how and when
- How hedge funds look at position sizing compared to retail traders
- Why pyramiding positions doesn't make sense
- How to get a more realistic understanding of performance results than just a backtest report can provide
- How a random number generator can beat the mutual funds
- How to ensure you strategies are robust and not curve-fit
- Handling large losses or periods of drawdown
- The role of critical thinking in trading
Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.
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