hbspt.cta.load(7754154, '115928a3-f4d3-4ec6-8039-3f6961d4019c', {"useNewLoader":"true","region":"na1"}); Managed futures can help investors diversify portfolios over the long-term and prepare for changing economic climates. In the question, I was posting to him, how do you get better at your diligence? Home. I dont know what time it is over there. Alan started his career as a foreign exchange analyst and trader, working for Bank of America in London, Hong Kong, and Singapore and for BNP Paribas in emerging markets before returning to Dublin to join Allied Irish Capital Management, a global macro commodity trading advisor. Guys? Right now view it kind of the investors viewed as a But the managers view it as a feature. Yeah, its its one that it does irk investors, for sure. So with my that 100 million, whats the proper? Prior to founding Archive Capital, he was Managing Director and a member of the investment committee at Abbey Capital. It is for the purpose of providing general information and does not purport to be full or complete or to constitute advice. You know, if youre if youre if Im not so much a golf fan, Im, you know, probably be a bit 36 handicap or something like that. This was a great chat with Alan on the current craziness and commodity markets, how macro traders have evolved over the years and why words are a good thing and a trend managers track record. Funeral services will be at 2:00 pm on Thursday September 16, 2021, at the First Southern Baptist Church in Greenup, IL. The Long-Short Podcast Ep 42: 2022: The year of the CTA strategy. And then on the flip side of all this, the emerging manager, how do you think about the emerging manager, someone with a very short track record? And then its odd to me that they have these, youd think, isolate that person, keep them out of the HR and all the people business and just let their brain work on the allocations, right, thats interesting that theyre dealing with all that side of the business. And what that means is, you know, and even then breakout versus kind of more moving average type models. Mick has deep experience in trading and research over nearly four decades, including 20 years investment experience in managed futures. Abbey Capital Limited And so you know, if you take 2020, for example, you know, more breakout, so trading tended to do better in the first quarter. forwardthinking investors. Alan Dunne, Abbey Capital . And yeah, what you know who better to have on St. Patricks Day? Any last thoughts before we leave it? I mean, if youre using managed accounts, its not necessarily the case. Its. Dont know. Yeah, thats true as well. Because, you know, I always liked the idea of looking back into the past, for clues to the future, you know, and, certainly, thats in the, in the kind of the whole CTA approach of, you know, looking at the past, to see performance, but But more than that, just looking at past episodes of history, and effectively looking at archives for clues to feature so, so that was it. But certainly, as we moved into this decade, its been very different. "It's me home, ain't it," he said in his broad London accent. Thats right, youre gonna lose some of the convexity because youre going to be taking profits, and in some of those instances where you get the big move, so you would have already have taken some profits ahead of, you know, you know, maybe the move up from increased from 100 to, you know, above $130. He is recognised as a leader in the industry globally and is a regular guest speaker at alternative investment industry conferences. . And Wintons, you know, David Harding was also seemed to be part of that, that that perspective that maybe the returns werent going to be as good going forward, I think it was maybe misconstrued a little bit in the sense that, you know, trend was still going to be a pretty, pretty decent part of their portfolio, it was a multi strap portfolio, but obviously not as much as it had been previously. And so, so looking to work with those types of entities, either in terms of assisting a manager selection and manager insights, and portfolio construction as well. When he said that. Past results are not indicative of future results. Gannon has been involved in managed futures since the 1980s. And so I think its, um, you know, speaking to some of the managers or some of the guests, its certainly something that has been a challenge for them that theyve actually actively had to work on. Alan is a CFA Charter holder and holds an MSc Investment Management from Hong Kong University of Science and Technology, an MBA from Smurfit Business School, and a BA (Mod) in Economics from Trinity College Dublin. So its a, its going to be very contentious. So thats been really interesting. 1. AGE View Full Report AGE Phone Address View Full Report AGE View Full Report AGE Phone Address View Full Report Powered by Whitepages Premium AGE 40s Alan Dunne Or is it you know, how much of the return attribution you get? So you may learn something in that situation that you didnt realize in terms of maybe their growth exposure, or you know, how quick they are to manage to increase or scale back risk. And I think I think experience and perspective is helpful to you know, because youll always think back of Oh, yeah. Pro - Try 1 Week Free and access, 64K PE/M&A Contacts . The disclosure document contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA. View Alan Dunne's business profile as Manager, Technology at Disney Cruise Line. So, a equally people say, Oh, managed futures is a long vowel strategy, and it has comparisons with that. And I think it comes back to the point that in winning trend following you have a lot of unique decisions to make as you construct a trend following program, you know, firstly, what markets are you going to trade? I started off in FX and as an FX Trader and analysts, and then as an as a macro strategist. Thats right. Going back, how many meetings would you take a year? So thats something that were starting to see more in the market. So different market environments could just favorite strategy. Obviously, weve had COVID so that precipitated a deep recession and a big recovery. But you know, if you bet 100, or a number of hundreds, and is okay, its, its interesting, but I, I know, another 100 managers who do this, so is this guy better or worse. No, we didnt see it to the same extent back then for whatever reason. And but certainly, you know, being being realistic in the in the return and volatility profile, and how thats presented, is important to consistency is important as well, you know, if its something that has changed a lot over the years, then thats going to be a more difficult story. And thats obviously changed now. And then Ill flip that a little bit. And check out our new Trend Following Guide! Right? And then David Harding came out, right, was that two years ago, three years ago, and basically said, theyre not a CTA. And now weve got a, a war between Russia and Ukraine. Yeah. 1230 Avenue of the Americas You remember, 2018, we had a volatility expansion volume again, and was in February of that year, but it was choppy markets that werent in markets, that sustained directional move. Tell us Yes. I know, this has come up on the top traders unplugged podcast a bit, you know, you know, what it kind of like? And from a macro perspective, you know, we had very low volatility in GDP, you know, if you look at US GDP in that period, on a quarterly basis, it was between maybe minus 1% and plus 2%. Alan Dunne, CFA CEO at Archive Capital and host of the Allocator Series podcast on Top Traders Unplugged Ireland 500+ connections Join to connect Archive Capital Trinity College, Dublin. Amy is tasked with building Abbeys brand globally and helping to inform and educate the market with insight from our team. Actually, were recording a week ahead but its gonna be released on St. Patricks Day. The Alabama native has 18 seasons of experience coaching professional baseball. investors of every size. And then looking at opportunities under discretionary side, whether its more commodity focus or more traditional macro, so I do think and, you know, it probably hasnt been involved for a while but it sounds like investors are warming to this too much greater said obviously a lot of flows have gone into the into the large muddy straits and thats a slightly different approach. In the current club Bromley played 4 seasons, during this time he played 77 matches and scored 0 goals . Yeah. And, you know, its good chance to see whos kind of in the ascendancy outside of the World Cup, they dont tend to play the northern hemisphere is and some mammosphere deems that much. So what are your thoughts on? John joined Abbey Capital in 2009 following the completion of a M.Sc. Its not going to move the needle one way or the other. Prior to joining Abbey Capital in August 2013, Kevin worked at Irish Bank Resolution Corporation as a market risk analyst, and before that at Geneva Trading where he traded a range of futures markets across the energy sector. And not not everybody is the most, you know, socially adapted presenting and all of that. Abbey Capital Limited | 2,627 followers on LinkedIn. And thats all sampling volatility. And I think, you know, trend following managers deal with this somewhat differently, depending on how they approach things, you know, what you have in some instances, but obviously, volatility scaling up. And what is generally the Elemis got a great reputation over there. <p>Happy St. Patrick's Day! Happy St. Patrick's Day! I actually, you know, if I looked at my window here, Id be able to see the Aviva Stadium where, where they play the rugby. Log In. Alan has worked in the financial markets and investment management industry for over 25 years at hedge funds and large . And I, you know, the markets have actually been, you know, you couldnt have said that the markets would have been this good for these types of strategies a year to go, but But I do think that were into an environment, which will be favorable. But if you are a fan, you definitely find lots of great courses over here. The goal of Top Traders Unplugged is to democratize the hedge fund industry, by providing easy access to the most successful managers and traders while simultaneously giving small and emerging managers a chance to be heard. Alan has worked in the financial markets and investment management industry for over 25 years at hedge funds and large investment banks as a CIO, hedge fund allocator, macro strategist, and technical analyst. And, and maybe theres something interesting in, in the whole systematic macro space. Office Phone: +353 1 605 0002 . Yeah, right bridge that gap between the two. Tony has more than 25 years investment experience in managed futures. And, and youll see find me on LinkedIn as well. Product About Create Free Account So thats what it sounds like your take is none of that was really true, or some of it was true. So its probably not the case that this is going to be the first. As such, they are not suitable for all investors. rappers. 2007-2022 DATO CAPITAL Luxembourg (Avenue John F. Kennedy), DATO CAPITAL LTD . And, yeah, I think if, you know, Im obviously based in Dublin, here, looking across Europe, in particular, if theres a lot of money invested in kind of asset allocation models, multi asset models, and really, a lot of these strategies are very underrepresented in a lot of portfolios. Fax: +353 1 828 0499 Lets go above 100. Get it now absolutely FREE! RelSci Relationships. For over 20 years, weve developed our processes, systems and team to focus on analysing and selecting managed futures CTAs. And. Alan has worked in the financial markets for over 25 years at global macro and managed futures hedge funds and large investment banks as. So its like, thats probably fair. Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. Tell us what youre doing at archive. And theres no right there. Thats, yeah, its Yeah, yeah. Wheres that going? Its great. But go back five years ago, if youre a manager with a heavy emphasis on trading grains, or agricultural commodities, it was really typical, you know, and pretty hard to make the case that, you know, things are going to change at some point in the future. Abbey Capital is a private company limited by shares incorporated in Ireland (registration number: 327102). And I think its a good environment for managed futures and macro oriented strategy. So kind of an like for like basis. But, you know, no meetings to report where people have showed up for that or close on. I think, you know, you got to you got to show that youre competent and savvy and thoughtful. And what sort of heuristics do you have for that as well of like, Alright, Im gonna allocate to this manager, theyve had a 20% max drawdown, Im gonna let it go one and a half that to x, that having. Thanks a million. And in, you know, on the institutional asset management, so to the tank, its, you know, people wont make those mistakes. Find contacts by bulk company domains. two things to unpack there. Abbey Capital (US) LLC is a wholly owned subsidiary of Abbey Capital. And, you know, the philosophy there is obviously multi manager, you know, for, partially for what Ive been talking about, like you have, you have the broad category of macro and manage your strategy. So thats, I mean, that its interesting when you went to him, when youre in the midst of that, it is a difficult thing to defend. There is rugby this weekend on underplaying England. And then did you ever do any research on like, five year periods or 10 year period? Its like Ive been doing blog posts on mens futures for 15 years, people come on. For some people person, I think theres an evolution, the whole use its wrapper, it ebbs and flows a little bit. Yeah. But you know, a manager who has proved that they can do that over 1520 years, whatever it is, but consistency of approach, that can still be very valuable in a portfolio context. Archive Capital Limited is a registered company in Ireland with company number 704288. And thats, thats been proven in what were seeing in terms of manager performance data at the moment. So, you know, what does that say? So it is, it is really hard, regardless of whether youre a retail trader or individual investor or a large institution, I think the best thing you can do is to be probably more process driven, which some institutions will be and the risk with that is it becomes more box ticking. 2 Alan Dunn. But certainly things like wheat and nickel have been pretty crazy by any standards. So theres not a lot of opportunity to add new managers, it doesnt mean that youre a poor manager, just because youre not getting an allocation. 26:02-40:37= Abbey Capital: Dispersion in the Trend Space & David Harding 40:38-54:47= CTA Due . So obviously, the result of that will be age when this is an Ireland, Scotland in the final match. What are your thoughts on investors looking at trend or commodity exposure? We found 100+ records for Alan Dunne in MA, FL and 11 other states. But but as we know, these things move in total. And it was around 2018 2019. Whenever it was to choose the morning, I think and you know, so those, those those have been cancelled there. So its I think, I think meaning a lot of managers. And then you get something and, you know, a significant event. But at the same time, you know, if you look back at where weve been, for the last 1020 years, certainly the last decade was unusual to 2010 to 2020. But the Six Nations that used to be the five nations, you know, its been gone back many years and its kind of the big domestic are suppose big northern hemisphere. How you Alexon? Right. Abbey Capital (US) LLC 1230 Avenue of the Americas Suite 1803 New York, NY 10020 Phone: +1 646 453 7850 This website contains information provided by or about Abbey Capital Limited ("Abbey Capital"). And, you know, and its like, if you look at the periods of where trend following has done well, historically, be it, you know, 2008, or even 2014, early 2015, you know, youll see months, you know, for your typical trend for where theyre up maybe eight 10%, two or three months, and you think, okay, that now would be the time to take profits. He is the CEO of Archive Capital. Yeah, it seems to be I mean, theres there are a number of trend following managers you can access in any use its format. Especially when you could have five years of flat? Yeah, I mean, youve got different shades of this, that people will, will do that to a degree and that will dampen it, but obviously, you will tend to adjust to volatility exposed, so you can still capture that, that those periods of volatility expansion, I think, you know, I think you have had historically, philosophically different approaches, and, you know, trend following has evolved in different ways, youve got the, you know, the turtle trading type approach of, you know, risking a certain amount on on discrete bets, and doubling up and managing the stop losses on kind of a on a on a, on a position by position basis, versus the more holistic, you know, managing the risk in the overall portfolio. 28 | 09 | 2022. Yeah, its interesting. He played in the English Football League for Millwall and Leyton Orient as well as in non-league football for Bromley. Director. 2022 Archive Capital Limited. Weve never seen strategies like that before. I mean, I would I would be thinking more like 20%. So there was a lot of people saying, you know, trend following, it doesnt work anymore. Here we are, and were Were seeing them. But its really hard in the moment of making the decision. Episodes. How do you view like, this needs to come out of the portfolio, right? And it shouldnt necessarily be the case. Whats the holiday like over there in Ireland. How do you do trend falling in particular is a penalty for these large givebacks of open profits. Alan has worked in the financial markets for over 25 years at global macro and managed futures hedge funds and large investment banks as a CIO, hedge fund allocator, macro strategist, and technical analyst. I cant remember the exact numbers, but very low GDP quarterly, there was no recession in the whole period, there was no boom. My guest today is Alan Dunne. All Rights Reserved. So even within trend following managers, if you look at say the sub 10, CTA, sorry, structuring trended and so 10 large trend following managers, you will still get, once you adjust onto a common volatility, trend, remember what the numbers are, but you know, it certainly certainly it could be the order of 40 percentage points in a given year, which is pretty substantial. . And all of these, well, you know, well, what youll tend to find is that the managers will by and large, be reasonably correlated. What do you call it on top traders unplugged? Jim manages new and existing client relationships across North America, educating the US market on managed futures and growing awareness of Abbeys funds. Why, because theres something about their system that might have been favored by the market environment for a year or two, and then that changes, the challenge for investors is differentiating, you know, quite element of performance is just by chance, and just just been favored by the environment, and what element of performance is actually, you know, crew manager skill. So its already, you know, shaping up to be a very different decade, it would be, I think itd be foolhardy to suggest that weve seen the volatility and things are going to revert back to what it was like, for the last decade, I would think a more reasonable expectation would be more volatility ahead, we still have to navigate the Fed reducing their balance sheet from eight, 9 trillion, whatever it is. I mean, private placement, managed accounts, you know, whatever it is, the vehicle is less, less less important as more just the strategies Im talking about. 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Dealt with them theres been more more embracing of quantitative strategies isnt working, youre looking for something speculative document It you know, because youll always think back of your expectations the timeframe tricky to select one two Get passed along the way up to 100 million further, that will. Big one this year to substantial charges for management and Capital investment macro and managed alan dunne abbey capital and growing awareness Abbeys. As in non-league Football for Bromley alanjdunne and visit Archive Capitals website not a!
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